Peter Obi: If elected president, I would turn Nigeria’s brain drain to gain

Peter Obi, presidential candidate of the Labour Party (LP), says if elected president, he would turn Nigeria’s brain drain to gain.

Obi is currently outside the country interacting with Nigerians in diaspora ahead of the 2023 general elections.

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

In a series of tweets on Wednesday, the former Anambra governor said the country is yet to fully harness the huge benefits of its citizens living abroad.

He said beyond their vital roles of sending foreign remittances back home, 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,” he tweeted.

“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.”

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.

— Peter Obi (@PeterObi) August 31, 2022

According to him, it will take only one “visionary leadership and disruptive thinker” for Nigeria to be put back on the right trajectory.

He said with a robust diaspora support, his administration would accomplish this feat, if elected.

“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.”