Title: Impact of Diaspora Remittance on Economic Growth of Nigeria: An Appraisal
Authors: .Joseph Danmale, . Dr. Marian Chioma Ugwu and . Monday Adama
Volume: 10
Issue: 5
Pages: 220-226
Publication Date: 2026/05/28
Abstract:
Diaspora remittances in foreign currency are essential in supporting both government and family finances, offering essential income, savings, and consumption resources. over 17 million Nigerians living in diaspora are trying in contributing to the economic growth of their home country through remittance knowing fully the station they left their households, family, community and friends in. These remittances mostly in hard currency continue to provide required support to the family and equally become regular source of income to many households in Nigeria. The primary Objectives of these research work is to appraise how diaspora remittance help to improve the economic growth of Nigeria through household support. The study adopted the Exogenous Growth Theory by Robert Solow in 1956. Descriptive Survey research design was used in the study for data collection. Both primary and secondary data was used where oral interview was used. it is concluded that diaspora remittance had contributed to the economic growth of Nigeria in diverse way ranging from adding to Gross Domestic Product, increasing investment in business and Agriculture, building of houses, increase money in circulation, creating menial jobs thereby reducing unemployment and crime. The study recommended encouraging Nigeria diaspora through diplomatic protection against Xenophobic attack, legislation to protect Nigeria diaspora as well as removal of unnecessary bureaucracies in handling diaspora issues.