According to PricewaterHouseCoopers, Nigeria’s labor market has benefits over Europe’s due to a decline in the number of workers in that region.
According to a recent paper titled “Nigerian Brain Exports: The Optimal Path to Growing the Nigerian Economy,” Nigeria already had a sizable Diaspora, and the abundance of young talent there was a valuable commodity that gave the nation an advantage.
Nigeria’s target markets, according to the paper, would mostly be in Europe and North America, especially given that by 2030, Europe’s old-age dependency ratio—defined as the proportion of the working-age population that is 65 years or older—was predicted to rise from 27.8% to 39.5 percent.This raises the possibility that European nations won’t be able to replace workers who are retiring.
The analysis predicted that work opportunities would expand further, raising the possibility that Europe wouldn’t be able to keep up with the increase in job demand.
Exporting Nigerian skills and experience would be advantageous for all parties given the aging workforce in America and Europe and the requirement for talent to maintain economic performance in these regions.
Nigeria exports intellectual property, and these markets offer jobs.One in six ICT workers at the moment are women, which means that the country is not utilizing all of the skill sets available.
This will be resolved by a concerted plan to increase brain exports, according to PwC analysts.However, the research highlighted several key priority areas that demanded various skill levels and paid varied pay.
- Tags: #europe, #PwC, #workforce, Nigeria
