NET MIGRATION AND ECONOMIC GROWTH NEXUS: EMPIRICAL EVIDENCE FROM NIGERIA

Abstract

Migration plays an important role in determining the economic status of most developing countries in the World and Nigeria is not an exception. Record has shown that Nigeria experiences high emigration rate relative to its immigration, and this alone has posed a serious threat to the growth and development of the economy. This study examines net migration and economic growth nexus: empirical evidence from Nigeria, using time series secondary data spanning the period of 1970 to 2017, applying the Autoregressive Distributed Lag (ARDL) Bounds testing approach. The results of the cointegration test shows that, there is a long run cointegrating relationship between net migration and economic growth alongside other control variables. Specifically, the findings of the study revealed a negative significant long run relationship between net migration and economic growth. Therefore, the study recommends that the push factors such as poor wage and incentive structure in Nigeria need to be addressed. Moreover, the pull factors, such as good quality of life abroad need to be provided in Nigeria, in order to discourage people from leaving the country. The latter can be achieved through massive infrastructural development, transparent recruitment process and incentive based remuneration system that rewards achievement and hard work.