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The over 250 participants from the academia, banking and finance, ICT, maritime, media, public sector, diplomatic circle, etc. who converged on Lagos recently, for the annual lecture organised by the Centre for Financial Journalism, observed that Nigeria is not doing well about human capital development because it is not making adequate investment in the education of its citizens, which is a major avenue for developing human capital.
Participants at the Bullion Lecture 2024 held in Nigeria have called on governments at all levels in the country to increase investment in human capital development to achieve fast-paced prosperity for the country.
The over 250 participants from the academia, banking and finance, ICT, maritime, media, public sector, diplomatic circle, etc. who converged on Lagos recently, for the annual lecture organised by the Centre for Financial Journalism, observed that Nigeria is not doing well about human capital development because it is not making adequate investment in the education of its citizens, which is a major avenue for developing human capital.
They pointed to relevant data which suggest that Nigeria is operating at the bottom of the ladder in many aspects of human capital development. The participants noted that while Nigeria is blessed with abundant human and natural resources, the gross inability of the various governments in the country over the years to develop and equip the human capital on a sustainable basis has increased poverty, diseases and squalor across the country.
The participants are worried about the increasing phenomenon of migration of the country’s vibrant youth population to overseas countries, including a large number of already accomplished professionals, in search of greener pastures because of the hostile environment of the country characterised by poverty, high unemployment rate, insecurity, lack of infrastructure that inhibit the actualisation of their dreams.
The participants agree that human capital development and its sustainability are the key solutions to solving many economic problems confronting the country today.
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The participants recommend that the existing National Education Policy should be reviewed to align it with modern reality and requirements – after noting that the current National Education Policy is outdated and too rigid, and, therefore, inadequate to produce the needed skilled manpower requirement for a modern economy.
