Is the idea of “stay and build” really feasible?

Every young, enthusiastic Nigerian has that one friend who just relocated or is currently processing their documents to move out. The search for greener pastures beyond Nigeria's borders has become more an act of survival than a choice. A survey conducted by Afrobarometer found that 56% of Nigerians have once considered emigrating, a figure that has tripled since 2017. Recently, migration policy has tightened, and most advocates are encouraging the youths to stay back and build since most developed countries have become less welcoming.

Bear in mind that these people are expected to build in a space where they constantly have to battle with the unfavorable cost of fuel, rent hikes, and food inflation. This prompts the question as to whether “staying and building” is feasible, or is it just another optimistic phrase used by Nigerians to soothe their emotions?

The Nigerian economy's market conditions are highly volatile. Inflation has reshaped what comfortable living looks like, and the cost of power, internet services, and transportation has become so expensive.

The concept of stay-and-build makes sense in a way, because Nigeria is regarded as one of the countries with dense opportunities in Africa. This is because our country has gaps created by an unstable economy. The interesting thing is that gaps are where builders and creative minds thrive.

A good example is what Fintech did in less than a decade. Flutterwave, Paystack, and mobile money operators like OPay and PalmPay scaled through the worst of the Nigerian economy because they solved Nigerians' payment frustrations. The perfect policy never came, but they still built with what they had.

But looking at the concept through the lens of Fintechs is far-fetched, as it may not apply to the average Nigerian youth.

Building might mean learning and developing skills like coding, web design, and financial consulting locally while you earn globally with them. It might be building community-based businesses that solve local problems. Whatever it is, it does not matter when considering how feasible it is for an average Nigerian struggling to afford basic amenities.

If you are earning solely in naira with no possibilities to scale upward, “stay and build” may not make sense to you. If your industry is capital-intensive, fluctuations in the exchange rate may take a toll on you, making it difficult to build.

We have to come to terms with the fact that some will leave the country and will either struggle or thrive abroad, while some will stay to scale or stagnate.

Feasibility depends on how easily you can leverage your skills and how readily you can access the right tools, but, working amidst the unstable nature of the Nigerian economy is the first step.

Staying does not always mean settling for what is available, especially if repositioning is in the picture. It is safe to tell Nigerian youths to make the most of every opportunity that comes their way, whether through migration or by establishing themselves locally.

Whatever the outcome, I believe every Nigerian will find a way to win in the end.