In Nigeria, the Socio-economic and political situations and climates, coupled with the forces of globalization are driving away the highly educated and highly talented professionals and experts to the developed countries of the world. This phenomenon often called the "brain drain" has led to several disastrous consequences in the political economy of Nigeria. However, considering the "trickle down" benefits of the brain drain through Diaspora remittances and other means to national development; current scholars and researchers on brain drain have marshaled out contrary arguments in support of the issue. This study examines the two sides of the debate. The study was based on secondary method of data collection and was anchored on the change theory of Kurt Lewin. Our findings show that there are benefits and costs of brain drain and Diaspora remittances. On a comparative level, it was recommended that the Nigerian government should use pro-active and pragmatic policy measures to address the "push factors" that are behind the "heightened rate" of migration of the quality human capitals in Nigeria. This would mitigate the negative impacts of it and in turn leads to an acceptable rate of Nigerian emigrants abroad.