Impact of Rising Migration on Socio-Economic Development of Nigeria (2015-2022)

Abstract

Since 2015 Nigerians have been experiencing failure of governance which have manifested in persistent insecurity, high inflation, poor socio-economic performance, unemployment, hardship, suffering, poverty, low development, and frustrated hope. Currently, the level of poverty has skyrocketed that people hardly provide for one square meal a day. The inflation rate has increased to 20.77%, the debt profile is 41.62 trillion, unemployment rate has risen to 33.3% while, the GDP growth rate is 3.5%. Consequently, these precarious conditions in Nigeria have led to massive migration of both trained and untrained professional like academics, doctors, nurses, engineers, builders and even students to developed countries. Thus, this study examined the impact of migration on socio-economic development of Nigeria from 2015 to 2021.  The study relied on secondary sources of data collection and data collected were analyzed using content analysis. The study is anchored on relative deprivation theory and argued that, poverty is the major driving force for migration of Nigerians to developed countries. The security, economic and political conditions in Nigeria have worsened the surge for people to migrate in search of better living conditions and safety. The study revealed that, Nigeria has lost skilled personnel with capacity of transforming the economy through the wealth of knowledge in their disposal to developed countries. The study concludes and recommended that, government should expedient efforts in tackling insecurity confronting the nation, create more job opportunities and improve the environment to stop people from migrating. Furthermore, good economic policies should be formulated and implemented to revamp the Nigeria economy to compete with developed world.