Purpose

In Africa, recent data show that Nigeria is the second top remittance recipient behind Egypt, but welfare seems deteriorating. Most related reviewed literature is micro-based with surveys, giving credence to the dearth of macro-based literature whose gap this study attempted to fill. Thus, the main purpose of this study is to examine remittance flows and its welfare implications in Nigeria.

Design/methodology/approach

The study used quarterly data (1980Q1–2020Q4) from World Development Indicators (2020) and applied the dynamic ordinary least squares (DOLS) model.

Findings

Remittance flows were found to be significantly improving the welfare of Nigerians by about 0.04% for a percentage remittance increase. Financial sector development results show that while loans decrease welfare per individual significantly by 0.25% given a 1% increase in the loans accessible by the private sector, a percentage increase in broad money supply in circulation raises welfare per individual significantly by about 0.43%.

Practical implications

Since remittance is found to improve welfare, the study recommends that relevant stakeholders should endeavor to eliminate all form of bottlenecks (payment delays, remitting costs, transfer delays, poor policies and policy inconsistencies) inherent in remitting funds back to Nigeria. The implication of this is that if the impediments are minimized, remittances are bound to rise which will ultimately lead to improved welfare.

Originality/value

The existing literature revealed that there exists very limited or no macro-based study in this context, hence this novelty study.

中文翻译：

---

汇款流和福利影响：尼日利亚的经验

目的

在非洲，最近的数据显示，尼日利亚是仅次于埃及的第二大汇款接收国，但福利似乎正在恶化。大多数相关综述文献都是基于微观的调查，这证明了宏观文献的缺乏，而本研究试图填补这些文献的空白。因此，本研究的主要目的是研究尼日利亚的汇款流及其福利影响。

设计/方法论/途径

该研究使用了世界发展指标（2020）的季度数据（1980Q1-2020Q4），并应用了动态普通最小二乘（DOLS）模型。

发现

研究发现，汇款流量显着改善了尼日利亚人的福利，汇款百分比增加约 0.04%。金融部门发展结果表明，虽然私营部门可获得的贷款每增加 1%，贷款就会使个人福利显着降低 0.25%，但流通中广义货币供应量的百分比增加会使个人福利显着提高约 0.43%。

实际影响

由于汇款可以改善福利，该研究建议相关利益攸关方应努力消除将资金汇回尼日利亚所固有的一切形式的瓶颈（付款延迟、汇款成本、转账延迟、糟糕的政策和政策不一致）。这意味着，如果障碍最小化，汇款必然会增加，最终将导致福利改善。

原创性/价值

现有文献表明，这方面的宏观研究非常有限或根本没有，因此本研究是新颖的。