Introduction TherecenteconomicrecessionsexperiencedinNigeria(firstin2016andexitedin2017andwentback torecessionin2020)deservesresearchattention.Areremittanceflowspartlyresponsibleforthepattern ofgrowthandtherecenteconomicrecessioninthecountry? Foreigncapitalsareimportantsourcesoffinancingeconomicgrowth,especiallyincountrieswherethe foreignexchangegapislargerthanthedomesticinvestmentgap.Remittanceshaveinrecentyears becomeanimportantsourceofforeigncapitalflows.Thisisevidentinthe2020worldbankmigration anddevelopmentbriefwhichindicatesthatglobal(andlowandmiddleincomecountries[LMIC]) remittanceflowwasexpectedtodeclinebyapproximately20percent(19.7percent)in2020duetothe covid19pandemicinducedeconomicdownturn.However,remittanceflowsweretippedtobecome moreimportantsourceofforeignfinancingasforeigndirectinvestmentwasexpectedtodeclineby more than 35 percent (World Bank, 2020; Karimo, 2020).Therefore, remittance flows could have importantimplicationsforsavingsandinvestment,therebyaffectingeconomicgrowth.Forinstance,an increase remittance inflow could contribute to economic growth by increasing consumption expenditureandaggregatedemand,savings,andinvestment(Meyer&Shera,2017). Abstract Thestudyexaminedtheimpactofremittancesonmacroeconomicfluctuation(recessionandrecoverystates) ofNigeriaeconomy.Thestudyusedannualdatacoveringtheperiod1985to2020andestimatedaMarkov timevaryingtransitionprobabilitymodel.Remittancehadapositivesignintherecessionandrecoverystates ofNigeriaeconomy,butstatisticallysignificantonlyintherecessionstate.Furtheranalysisrevealedthat foreigndirectinvestment(FDI)andforeignportfolioinvestment(FPI)inflowswerenegativeandstatistically significantintherecessionstate.Thestudythereforeconcludethatremittanceinflowisprocyclical,thatis, increasedinflowsofremittancesreinforcesrecession,whileFDIandFPIarecountercyclical,implyingthat, increasedinflowsreversesrecessionandsettheeconomyonthepathtorecovery.Thestudyrecommended policyeffortsatprovidinginfrastructure,fightinginsecurityetctoattractFDIandFPIduringrecessionsto taketheeconomyoutofrecession. Keywords:Remittances,Macroeconomicfluctuation,Asymmetricapproachforeigndirectinvestment (FDI),foreignportfolioinvestment(FPI) RemittancesAndMacroeconomic FluctuationInNigeria: AnAsymmetricApproach. 1 2 Dr.NATHAN,Emmanuel andOMEJE,Danjuma  and nathanemmauel98@yahoo.com danjumaomeje@gmail.com DepartmentofEconomicsFacultyofSocialSciences, NigerDeltaUniversity,BayelsaState,Nigeria 76 1 JournalOfContemporaryResearchInEconomicsAndDevelopmentStudies(JCREDS) APublicationOfTheDepartmentOfEconomics,RiversStateUniversity,PortHarcourt www.economicdeskjournals.net ECONOMICDESKJOURNALS Jan. - Mar., 2022 01 Volume-1, Issue-01, Pg.01-11