Best minds not contributing to economic growth – Ajumogobia

Many of Nigeria’s brightest minds may be unable to contribute to the country’s economic growth, warned the pro-chancellor of Pan-Atlantic University, Odein Ajumogobia, decrying brain drain’s effects on the economy and calling on the government to implement restorative policies.

As he recently addressed the 21st Convocation of PAU postgraduate students in Lagos, Ajumogobia noted that many students receive training in local institutions but take their knowledge and skills out of the country, leaving behind a vacuum.

“Many of them (graduates) will take this knowledge and skills acquired out of the country, leaving behind a vacuum, the PAU Pro-Chancellor lamented. “While we’re delighted that our education is world-class, the ‘Japa’ Syndrome exacerbates the perennial challenge of brain drain, whereby our best minds are not contributing to economic growth or development in their fields of practice in Nigeria.”

While Ajumogobia acknowledged that Nigeria’s education remains world-class, he noted that high unemployment, poor remuneration, and structural instability drive the ‘japa’ trend.

He urged policymakers to “implement policies that make Nigeria more attractive to young and bright minds seeking opportunities abroad.”

Ajumogobia stressed the need for improved funding in education to retain quality manpower, saying, “The need for adequate funding for the education sector cannot be overemphasised.”

He also encouraged the graduating students to remain optimistic about the country’s potential, pointing to a past period of economic growth that saw Nigerians in the diaspora returning to invest in the country: “Records indicate that a significant number of Nigerians in the diaspora returned home between 2000 and 2010, coinciding with a period of economic improvement and a boom in Nigerian businesses.

“If history is any guide, we can anticipate a time when Nigeria’s economy will improve and new domestic businesses will emerge.”

Meanwhile, the Lagos Business School celebrated the first set of Doctor of Business Administration students at the PAU 21st convocation.

The Dean of Lagos Business School, Prof. Chris Ogbechie, told The PUNCH the DBA programme, which could only take in 12 students, was a practical alternative to the more academically inclined PhD, tailored to solving real-world business challenges.

“We found the first set of DBA students to be CEOs or senior managers who brought real-life challenges from their industries for research and solutions,” Prof. Ogbechie explained. He added that one graduate focused on digitalising Nigeria’s apprenticeship scheme to accelerate learning and scale training opportunities.

While addressing concerns about graduates leaving Nigeria, Ogbechie asserted, “I don’t see anything wrong with it. Nigerians can go out, acquire knowledge, and bring it back.”

The LBS dean drew parallels with India’s global success and emphasised that technological advances now allow skills to be transferred across borders.

Further, the students identified how undertaking their programme impacted their businesses and helped their careers.

One of the DBA graduates, Dr. Chiedu Ojemaye, described the programme as transformative, blending theory with practice to address complex organisational challenges.

“The DBA programme in Lagos Business School is a rigorous process that is very impactful,” Ojemaye remarked, adding that his research on corporate brand orientation in the Nigerian banking industry has already provided actionable strategies.”

Another doctoral graduate, Dr. Oginni Odiri, noted that her thesis on social norms and investment decisions aimed to motivate Nigerians to embrace high-risk, high-reward investment opportunities: “The DBA bridges the gap between practice and research.”

She affirmed the programme, highlighting, “It is very beneficial to the society. Because for once, we’re not just focusing on theory. We’re using research as a tool to solve practical business problems. And you can see that in Nigeria we have a lot of business problems.”

The school celebrated graduates from MSc programmes in Data Science, Media and Communication, Economics, and Film Production.

A representative of one of the MSc classes lauded PAU’s role in equipping students with tools for societal change and announced donations totalling over N1.24m in support of the school.

The DBA graduates pledged a one-year bursary for one indigent student in the Faculty of Management Sciences selected by PAU’s management.