The Founder and Group CEO of Moniepoint, Tosin Eniolorunda, has raised concerns over what he described as a critical shortage of highly skilled senior technical talent in Nigeria, warning that the gap could hinder the country’s ability to build globally competitive companies.
Speaking in the aftermath of his remarks at the Platform Nigeria on May Day, Eniolorunda said Nigeria’s labour market is characterised by limited opportunities, high unemployment, and a shortage of employers relative to the country’s large youth population.
He noted that while Nigerians are widely recognised for their resilience and work ethic, the country currently lacks enough experienced professionals in advanced technical roles to drive large-scale innovation and execution.
“We must tell ourselves the truth. Nigeria does not have enough highly skilled technical talent resident in the country to build companies that can scale globally,” he said.
The fintech executive pointed to growing consensus among employers on the issue, referencing comments by former Minister of Finance, Kemi Adeosun, who cited challenges faced by industrialist Aliko Dangote in sourcing the right talent for major projects such as the Dangote Refinery.
Eniolorunda questioned the availability of senior professionals capable of managing complex, high-scale operations, including engineers overseeing payment infrastructure processing millions of transactions daily, senior data scientists building large-scale financial models, and growth executives with experience in scaling digital platforms.
According to him, the challenge is not about the general Nigerian workforce but specifically about the limited number of experienced professionals who remain in the country.
He attributed the gap to structural issues within the economy, including a shortage of “feeder industries” that typically nurture early-career professionals into senior talent. As a result, companies are often forced to compete for a small pool of experienced leaders.
The situation has been further compounded by sustained emigration trends, commonly referred to as the “Japa” wave, which has seen skilled Nigerians relocate abroad in search of better opportunities. Historical patterns, he noted, show that this trend dates back decades, particularly among medical professionals. Recent data indicates that thousands of Nigerian doctors have moved to countries such as the United States and the United Kingdom.
Education stakeholders have also linked the talent gap to declining standards in technical education, warning that Nigeria’s training systems are struggling to keep pace with global benchmarks.
Despite the current challenges, Eniolorunda highlighted ongoing efforts by the private sector to address the deficit. He cited Moniepoint’s talent development initiatives, including the DreamDevs programme, which trains young engineering graduates, as well as collaborations with government programmes such as the 3 Million Technical Talent (3MTT) initiative.
The company has also partnered with innovation hubs, including NITHUB at the University of Lagos, and runs a Women in Tech internship programme aimed at expanding opportunities for female professionals in the technology sector. In addition, scholarship programmes targeting STEM students across Nigerian universities are being implemented to strengthen the future talent pipeline.
However, Eniolorunda stressed that while these initiatives are important, they may not immediately solve the current shortage, as developing senior-level expertise typically requires years of experience.
To remain competitive globally, he said companies are increasingly investing in retaining Nigerian talent abroad by offering internationally competitive compensation packages and flexible arrangements.
Moniepoint, which employs over 3,500 staff with more than 90 per cent Nigerians, continues to expand its workforce, recording an annual growth rate of about 20 per cent.
He concluded by calling for a collective effort to improve both the quantity and quality of technical talent within Nigeria, emphasising that human capital remains central to national development and global competitiveness.
“No organisation can rise above the quality of its output. Execution is everything, and it depends on the strength of talent,” he said.
