ECONOMIC CRISIS AND BRAIN DRAIN SYNDROME IN NIGERIA, 2015-2022

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ABSTRACT

Human resource as well as human capital is an important factor to economic development. Serving as the largest and most valuable effective tool, these human resources are tasked with the responsibility of growing wealth for a nation through the exploiting of its natural resources, build infrastructure, form social organizations and better other sectors all for economic growth. As Adam Smith opined, the prosperity and success of a country is determined by the skills, efficiency, attitudes and efforts of the labor used by that country. Human resource forming a country’s labor portion also functions as the key to economic growth ¹. And the loss of this human capital in the form of human capital flight also known as brain, serves a detrimental blow to a country's economy rather than the expected economic growth in which they ought to have initially performed. From all that has been discussed so far in this work, it is evident that economic crisis and brain drain work hand in hand, while the former precipitates the latter, the latter can also lead to the former. In the same vein, it's obvious that both subject matters prove to be a problem for not only Nigeria as a country, but also the continent of Africa as a whole, which struggles under the force of the effects of brain drain and economic crisis on the entire region.

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