MIGRANTS’ REMITTANCES: PATTERNS AND TRENDS IN BENIN CITY

Abstract

Remittances are supplementing source of funding to private capital inflows and foreign direct investments of most developing countries. This study has examined migrants’ remittances; patterns and trends in Benin City. 875 respondents were sampled across the 3 local government areas in Benin City namely Egor, Oredo and Ikpoba Okha. The instrument used in this study was the questionnaire. The method of data analysis used in this study was descriptive analysis with the aid of a Statistical Package for the Social Sciences computer software (version 22.0). The result showed that migrants from Benin City were more prone to migrate abroad between January and April (55.3%). 63.8% had a visa before migrating that is, the visas were issued to them by embassies and high commissions before their migration to their current countries of destination. 40.4% of the respondents migrated based on the availability of high paying skilled jobs. 55.3 percent of the migrants sent remittance mostly in September – December due to preparations for the Christmas, Igue Festival, and New Year celebrations which commence in October. Comprehensive legal migration pathways to various continents and countries in the world should be brought to the knowledge of all Nigerians to discourage the use of dangerous illegal migration routes. Hence, no pressure should be placed on migrants especially during festive periods to avoid economic imbalance for them in their destination countries.