SELECTED COUNTRIES STRATEGY FOR HARNESSING LABOUR MIGRATION OPPORTUNITIES: INSIGHTS FOR NIGERIA

Abstract

Labour migration present challenges, and also opportunities for economic growth and development. In Nigeria however, there is no sufficient indication that the nation is fully harnessing this non-formal source of foreign exchange, despite its vast labour mobility coverage across the globe. The paper examine Nigeria’s policy measures in harnessing labour migration opportunities, while providing insights into strategies adopted by selected countries. The New Economics of Migration (NEM) theory was adopted to explain casual variables. The qualitative content analysis of secondary data was applied. Findings revealed that Nigeria has viable policy blueprint on labour migration, but defective in pragmatic engagements for exploiting its inherent economic opportunities. Nigeria currently lacks concise data regarding its citizens abroad, as well as channels and precise worth of international remittances inflow, which constitutes the basis for effective diaspora engagement and quantifiable economic benefits. On the other hand, countries under review have demonstrated functional strategies for exploiting the benefits inherent in labour migration evidenced in comprehensive record keeping and concrete bilateral agreements to guarantee the welfare and prosperity of citizens abroad. Others are initiatives that attract social capital for development funding, tackling poverty and reintegrating skilled diaspora in critical sectors of science and technology, as well as investment, and maximization of international remittances. The paper recommended that the Nigerian state needs economic revival, and should reengineer its labour migration strategies to incorporate the required political will for profitable engagements. In order to achieve this, Nigeria has to address its internal contradictions such as corruption, foreign exchange crisis, weak and defective institutions, insecurity, and the issue of ease of doing business.