R.I Udegbunam

This study examines the impact of migrant remittances on aggregate demandinNigeria from 1990 to 2020, analyzing key economic variables such as migrant remittances (MGR), consumption (CON), investment (INV), population growthrate(PGR), interest rate (INTR), exchange rate (EXCR), and real gross domestic product (RGDP). Findings reveal a surprising negative relationship between migrant remittances andconsumption, contrasting with the positive correlation between populationgrowthrate and consumption, indicating the potential demographic dividend of Nigeria'syouthful population. Additionally, a positive correlation between real GDPandconsumption underscores the importance of sustainable economic growth. Moreover, the study identifies a positive relationship between migrant remittancesand investment, highlighting their role as a source of capital for investment inNigeria. These insights emphasize the need for nuanced policy approaches that considerfactors like exchange rates, interest rates, population growth, and economicdiversification. Policymakers should explore avenues to channel remittances intoproductive investments and prioritize initiatives supporting sustainable economicdevelopment to enhance living standards for Nigerians.