Stakeholders have called on the Federal Government to focus on prioritizing local investments to mitigate the issue of brain drain, which has led to a significant exodus of skilled talent from Nigeria.
In separate interviews with The PUNCH, stakeholders argued that improved economic opportunities and infrastructure would encourage skilled professionals to remain in the country rather than seek opportunities abroad. They highlighted the importance of investing in key areas such as healthcare, education, agriculture, and technology to create more attractive opportunities for skilled professionals to stay and contribute to the country’s development.
The ongoing talent exit has been identified as a significant concern, weakening key sectors and hindering growth. Stakeholders suggested that by improving infrastructure, offering competitive wages, and promoting career development, the government could curb the outflow and strengthen the economy.
Olalekan Aworinde, an Associate Professor of Economics with the Pan Atlantic University, emphasized the need for the government to prioritize local investments to address the issue of brain drain. He urged the government to act quickly and invest in key areas to retain talent and close the growing gaps left by those departing the country.
Ayoola Lawal, the Chief Executive Officer of LRA Consulting Limited, noted that while brain drain can be seen as both positive and negative, it is important to create a conducive environment for skilled professionals to return and contribute to the country’s development. He emphasized the need for the government to put in place the right infrastructure, incentives, and investments to reduce the brain drain problem.
Lawal suggested that in the long term, brain drain could potentially turn into brain gain as Nigerians in the diaspora may return home with valuable resources and expertise. He urged the government to prioritize local investments by creating a more secure and business-friendly environment, offering incentives to local entrepreneurs, and improving infrastructure to retain skilled professionals and reduce the need for emigration.
