This study investigates the multifaceted relationship between labour migration and economic development, focusing on the Nigerian context. It explores the impacts of both rural-to-urban and underdeveloped-to-developed country migration patterns on national development. Key aspects examined include the depletion of skilled professionals due to migration, the effectiveness of domestic investment incentives in attracting diaspora-led investments, and the potential inhibitive role of global intellectual property rights regulations on industrial investments and technology transfer. Through a descriptive survey design involving 300 respondents, the study aims to shed light on the intricate dynamics of labour migration and its implications for economic development in Nigeria. The findings seek to contribute to theoretical understanding and provide practical insights for policymakers, scholars, and stakeholders interested in optimizing the benefits and mitigating the challenges associated with labour migration.