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SS3: ECONOMICS - 1ST TERM

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  1. Basic Tools for Economic Analysis I | Week 1
    4 Topics
  2. Economic Lessons from Asian Tigers II | Week 2
    6 Topics
    |
    1 Quiz
  3. Human Capital Development I | Week 3
    2 Topics
  4. Human Capital Development II | Week 4
    2 Topics
    |
    1 Quiz
  5. Petroleum and the Nigeria Economy I | Week 5
    3 Topics
  6. Petroleum and the Nigeria Economy II | Week 6
    3 Topics
    |
    1 Quiz
  7. Manufacturing and Construction | Week 7
    3 Topics
    |
    1 Quiz
  8. Services Industries | Week 8
    3 Topics
    |
    1 Quiz
  9. Agencies that Regulate the Financial Market | Week 9
    9 Topics
    |
    1 Quiz
  10. International Trade | Week 10
    8 Topics
    |
    1 Quiz



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Brain drain refers to a situation where the majority of intelligent, skilled, or capable resources within a given field or geographic region leave an area because of various factors including lack of high-paying jobs, unfavourable working environment among others.

Brain Drain is the migration of highly skilled labour leaving a particular geographic area because of different reasons, examples of highly skilled labour are professional engineers, teachers, doctors, Nurses, Lawyers, etc.

Brain drain is a phenomenon whereby a significant large number of highly skilled individuals leave a particular geographical area usually their nations of origin, for other nations over a comparatively short period of time because of various reasons. It is the migration of highly skilled labour especially those with different degrees such as doctors, engineers, well trained footballers from home or poorer countries to richer countries to seek and secure more giant employment. It is mainly due to absence of lucrative jobs at home or in poorer countries.

Causes of Brain Drain

1. Political instability in the country

2. High level of unemployment in a country

3. The unreasonable payment or wages of workers

4. Unconducive working environment for workforce

5. Lack of psychological satisfaction encountered by professionals

6. Poor economy growth and development

7. Favouritism based on religion, culture and ethnic groups

8. Lack of devoted and patriotism among professional 

Effects of Brain Drain

1. It leads to acute shortage of highly skilled labour and talented people

2. It leads to inability to exploit local resources

3. It leads to employment of foreign skilled labour

4. It reduces foreign exchange reserve as the foreign staff transfer their income to their countries

5. It may likely cripple local industries if they can’t recruit foreign skilled labour

6. There is loss of a generation of well-trained experts

7. It leads to the breakdown of the educational system and reduction in quality of education

Arresting Brain Drain in Nigeria

1. The Nigeria government should maintain zero tolerance for corruption and embezzlement of public funds.

2. The government should put in place social facilities.

3. The country should maintain adequate security for lives and properties.

4. Professionals should be considered for higher wages in return for their services.

5. Expansion in the area of educational infrastructures and offering individuals the necessary qualification in their home country.

6. The government should put in place measures to look into problem of the country and give solutions where necessary.

7. There should be a conducive environment for saving and investment in the country. 

Evaluation Questions

1. Explain the effects of brain drain on the Nigerian economy

2. Discuss the characteristics of physical capital.

Responses

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