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Home Macro Monday

Is the End of Brain Drain in Sight?

In 2020, remittances amounted to about $17.2 billion, providing a huge source of foreign exchange, but what’s to show for this?

by Joan Aimuengheuwa
August 19, 2024
in Macro Monday
1
Is the End of Brain Drain in Sight?
UBA
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The issue of brain drain in Nigeria, where highly skilled professionals emigrate in search of better opportunities abroad, doesn’t seem to be anywhere close to coming to an end. 

Initially, the health sector was the most affected, but now, the issue has spread wide across the country. Citizens with or without skills are increasingly thrusting away.

Despite various initiatives aimed at reversing this trend, such as the Nigerian Diaspora Direct Investment Summit (NDDIS), Nigerians in Diaspora Commission (NIDCOM) and 3MTT, among others, economic challenges continue to outpace progress. 

Since 2021 on average, 40 doctors leave Nigeria every week. This exodus has greatly impacted the healthcare system, leading to a shortage of medical professionals and this has not changed till now. 

As of June 2021, out of 80,000 doctors registered with the Medical and Dental Council of Nigeria, only 35,000 were practicing within the country and as at 2022, reports revealed just 24,000 licensed doctors in the country. This shows that more than half of the registered doctors have left Nigeria or are not practicing.

Thousands of nurses have also left Nigeria since the start of the COVID-19 pandemic, seeking better opportunities abroad. This migration has further affected the already overburdened healthcare system.

The Tech Industry

Many skilled IT professionals are leaving Nigeria for better opportunities in countries like Canada, the UK, and the US. This migration is driven by the search for better working conditions, higher salaries, and more stable environments. Even the cost of phones and laptops for work is a big challenge.

The Educational Sector

University lecturers and researchers are also part of the brain drain phenomenon. The Academic Staff Union of Universities (ASUU) has reported that many lecturers are leaving Nigeria due to poor funding of universities, inadequate research facilities, and low salaries. This trend is detrimental to the quality of education and research in the country.

The economic impact of brain drain is huge. The loss of skilled professionals affects various sectors, leading to reduced productivity and slower economic growth. It also increases the burden on the remaining workforce, who often have to take on additional responsibilities.

Key Initiatives to Enhance Job Creation

To address this, the Nigerian government and various organisations have launched several initiatives aimed at creating jobs and retaining talent.

Programs like the Nigerian Diaspora Direct Investment Summit (NDDIS) and the establishment of the Nigerians in Diaspora Commission (NIDCOM) have been built to engage the Nigerian diaspora in national development. But still, the problem outweighs the efforts.

The 3 Million Tech Talent (3MTT) Initiative, targeting the training of three million tech professionals by 2030; the Nigeria Economic Sustainability Plan (NESP), designed to support SMEs and improve infrastructure; the N-Power Program, which offers skills and employment opportunities to youth; and the National Youth Investment Fund (NYIF), which provides financial support to young entrepreneurs. These have not been able to reduce the brain drain issues in Nigeria, because every seven out of 10 citizens still want to leave the country. 

Let’s talk about the “Why”

The kind of economic challenges that hit Nigeria from time to time are such that not everyone foresees or fathoms. This includes the subsidy removal, but let’s delve into others:

Inflation

Inflation hit an all time high this year, and these high rates have cut short the purchasing power of Nigerians. The cost of living is not growing at the same pace of solutions delivered by the government, making it difficult for many to afford basic necessities.

Increased food insecurity across the country, the high cost of internet data, limiting access to digital resources and opportunities for many Nigerians, rising transportation and fuel costs continually strains finances, affecting the ability to commute and access essential services. All of these goes without saying. 

Even the high cost of phones and laptops makes it challenging for many to participate in the digital economy.

Can we even leave out the devaluation of Naira against the Dollar which has made imports more expensive? Definitely not. 

The economic hardships led to widespread protests across Nigeria and even with this, more than 1,000 protesters were detained during the #EndBadGovernance protests.

Despite remittances from Nigerians abroad contributing to the economy, this is obviously not enough. In 2020, remittances amounted to about $17.2 billion, providing a huge source of foreign exchange, but what’s to show for this?

Discouraging Investment 

These economic issues are discouraging both local and foreign investments, impacting job creation and overall economic growth. The lack of economic stability affects the confidence of businesses and potential investors, further increasing the brain drain issue.

Corruption and Bureaucracy

Corruption and bureaucratic inefficiencies are major obstacles to effective policy implementation and economic development. The misallocation of resources, lack of transparency, and cumbersome administrative processes is damaging efforts to create sustainable employment opportunities. 

Skills Mismatch

An unignorable challenge in the job market is the mismatch between the skills of job seekers and the needs of employers. Despite training programs like 3MTT, many graduates face difficulties finding relevant employment due to this disconnect. After the training, what next? 

Limited Access to Capital

Access to capital is another issue for many aspiring entrepreneurs. Although initiatives like the NYIF aim to provide financial support, the overall availability of funding for startups and small businesses is still limited. Limited access to capital affects the ability of businesses to grow, create jobs, and contribute to economic development.

Initiatives such as the NIRP, 3MTT, and N-Power are commendable and necessary for job creation and talent retention. However, addressing the foundational economic challenges are highly necessary to ensure the long-term success of these initiatives. 

Until then, the economic challenges will continue to outpace progress, and the brain drain issue will remain a pressing concern for Nigeria.

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Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
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Tags: 3MTTBrain DrainEconomic ChallengesForeign exchangeInflationMacro MondayNigeriaRemittances
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

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  1. Pingback: Brain Drain: Nigerian Tech Leaders Call for Talent Retention Strategies | Tech | Business | Economy

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