A latest report by the UK Workplace for Nationwide Statistics (ONS) has raised issues over the growing variety of Nigerian college students opting to remain within the UK after finishing their research.
The info revealed that 76% of Nigerian nationals who entered the UK on study-related visas through the 12 months ending June 2021 transitioned to non-study visas inside three years, a major rise from 24% in 2019.
Specialists at the moment are warning that this pattern may have extreme financial penalties for Nigeria.
Rising mind drain and expertise loss
Based on HR skilled, Kehinde Akintobi, the rising variety of Nigerian college students selecting to stay overseas after finishing their research is a transparent indication of an escalating mind drain.
“As proficient people go away, they take with them vital abilities which are important to the event of the Nigerian financial system,” Akintobi acknowledged.
This migration of expert labour is resulting in what Akintobi calls a “capability hole” in sectors very important to Nigeria’s progress and an elevated value of human useful resource due to the mind drain. He defined that many Nigerian companies at the moment are struggling to fill vacancies in these fields, which is driving up prices in recruitment and coaching.
“The lack of expertise means the nation faces a scarcity of expert professionals, which additional hampers financial progress,” he stated.
Monetary pressure on Nigeria’s financial system
The report from the ONS has additionally drawn consideration to the monetary influence of this migration pattern. Based on Mr. Olumide Ohunayo, Basic Secretary of the Aviation Security Spherical Desk Initiative (ART), Nigeria is dropping substantial monetary sources by way of the outflow of scholars.
“Individuals have invested important quantities of cash in educating college students overseas, but we aren’t seeing a return to the financial system once they determine to remain there,” Ohunayo stated.
He defined that the funds used to assist college students’ tuition and residing bills overseas have contributed to Nigeria’s international change outflows. With many college students not returning to Nigeria after their research, the nation is successfully dropping out on the potential financial contributions. “These funds have been spent however there’s no return. We’ve depleted our foreign exchange reserves, and we’re not seeing any funding come again into the nation,” he acknowledged.
Influence on Nigeria’s youth and socioeconomic stability
The rising pattern of scholars staying overseas can be contributing to rising ranges of youth disillusionment inside Nigeria. Ohunayo warned that seeing friends go away and reach international nations is making youthful Nigerians more and more disillusioned about alternatives at residence.
“After they see their friends go away to check overseas and never return, it encourages others to comply with go well with,” he stated.
This sense of disillusionment is making a cycle, the place college students proceed to hunt alternatives overseas, leaving Nigeria with a shrinking pool of expert professionals. Moreover, households are promoting belongings and mobilizing funds to ship their kids overseas, which is inserting additional pressure on the nation’s financial system.
“Persons are mopping up funds for his or her youngsters and kins to journey, and in doing that, they’re placing strain and weakening the Naira,” Ohunayo added.
What wants to alter for Nigeria to retain expertise
Specialists counsel that the Nigerian authorities should tackle the underlying causes of this migration pattern with a purpose to retain extra of its educated youth. Akintobi emphasised that enhancing the nation’s financial and social situations would make Nigeria a extra enticing vacation spot for extremely expert professionals.
“The factor is when issues are going properly, every part will align. Cash flows in a route like water. If issues are going properly, folks sometimes will come again. Identical to you don’t want anyone to inform you that Dubai is an effective place to speculate since you see it in all places; from the airport to the city and all,” Akintobi stated.
Ohunayo added that systemic modifications are essential to curbing the circulate of expertise overseas.
“For folks to return, there must be a useful system in place—higher safety, improved justice, and a steady financial system. As soon as folks see that these methods are in place, they are going to be extra inclined to remain,” he acknowledged, stressing once more how this troubling pattern poses important challenges for Nigeria’s financial system.
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