2023: Peter Obi pledges to reverse brain drain and turn it to gain if elected

By our reporter| The presidential candidate of the Labour Party (LP), Peter Obi has pledged to reverse Nigeria’s brain drain and turn it to gain if elected president in 2023.

Obi, who is currently interacting with Nigerians in diaspora, made the pledge series of tweets on Wednesday, said the country is yet to fully harness the huge benefits of its citizens living abroad.

Beyond their vital roles of sending foreign remittances back home, the labour party flagbearer explained, the diaspora were increasingly critical in advancing technology and skill transfer, strengthening democracy, opening up global supply chains, trade, and foreign direct investment, education, and research, as well as healthcare delivery.

“As we explore ways and means of tapping in on technology transfer from the diaspora, we will also explore ways of reversing the enormous brain drain that has been debilitating for our country,” Obi said.

“Like India, Nigeria, should be able to tap her huge diaspora human resource to ensure technology transfer home. We will trigger every known technological and knowledge transfer initiators. Nigeria’s brain drain will be turned into brain gain.”

Obi further told his audience that it will take only one “visionary leadership and disruptive thinker” for Nigeria to be put back on the right trajectory.

“First, with $20 billion in remittances in 2021, Nigeria ranks 6th behind the top five recipient countries. Expert assessments are indicative that given the huge Nigerians in diaspora population, the country has the potentials of receiving from the diaspora, annual remittances of about $60b, which translates to about 14% of our total GDP,” he added.

“I see diaspora remittances as the new normal and becoming Nigeria’s Official Development Assistance (ODA). In 2021 Nigeria’s foreign direct investment (FDI) was a paltry $4.8 billion compared to diaspora remittances.”

“Brain drain” refers to a situation where large numbers of educated and very skilled people leave their home country to live and work in another one where pay and conditions are better.