In fact, the major difference between the developed and developing countries is the rate of progress in human capital. Oct 03, 2012 in short, human capital is the sum of knowledge, abilities, skills, values, personality, ideas, motivation, behaviors and experiences owned and offered by the people within an organization. The impact of human capital development on economic growth of nigeria. Key development challenges facing the least developed countries. The paper underscores human capital development in the nigerian university system via the interrogation of human capital theory. Leadership as a challenge to human capital development in nigeria by ibraheem a. The objective of this study is to examine challenges to the. The challenges of human capital development in nigeria. Challenges of research and human capital development in nigeria. The concept human resource, human capital and manpower connote the same thing and they will be used interchangeably. Human capital is the fundamental source of economic growth. Challenges for human capital development and technological.
Pdf corruption as a major challenge of human capital. Accumulation accumulation of human capital is perhaps the most important determinant of productivity in nigeria. Research and human capital development are critical to the development of any nation. A high rating in human capital development indices places a country among the leading countries of the world. The paper discussed the challenges of research and human capital development in nigeria. Challenges for human capital development and technological innovations in the south african water sector page 5 development planning division working paper series no. This is for the fact that the growth of tangible capital stock of a nation depends to a considerable degree on human capital. Not only are professor quinoness thoughts of interest and value, they provide a useful context for the series on the top. The challenges of developing human capital in nigeria with a global comparability and competitiveness remains far from appreciable levels despite very feeble attempts by successive governments. Department of industrial relations and personnel management, faculty of business administration, university of lago.
Investing in human capital for nigerias future 3 preface the nigeria biannual economic update is a product of the staff of the world bank and has three broad aims. Upon these achievements of human capital development, there are some factors militating against its ultimate success. Human resource management academic research society 440 human capital development in science and technology education. The national action plan nap which is an addendum document to this report draws. Research is a tool for enhancing human capital development. Consolidated and zonal reports 11 list of acronyms ansa armed nonstate actors bcda border communities development agency cve countering violent extremism dss department of state services ewers early warning and early response system ews early warning system fct federal capital territory.
Investing in people to build human capital world bank. Pdf entrepreneurship education as a strategy for boosting. Human development report 2019 inequalities in human development in the 21st century briefing note for countries on the 2019 human development report nigeria introduction the main premise of the human development approach is that expanding peoples freedoms is both the main aim of, and the principal means for sustainable development. Many graduates come out the university with theoretical knowledge of their course of study not minding the outdated concepts and textbooks used in teaching and when they come outside they cant. Human capital is substitutable, but not transferable like land, labour, or fixed capital. Human capital development and its impact on firm performance.
Implications for educational development focused on the benefits of human. Pdf this study employs the augmented solow humancapitalgrowth. From the above, the topic human capital development and economic growth in nigeria. This is because it has been posited that one of the most crucial avenue for grooming and developing human capital is in. Ajayi department of geography, university of ibadan, nigeria abstract perhaps one major problem facing nigeria today that has received little or no attention remains her low industrial base. Equipped with education, skills and jobs, its youth stand to be the most important driver of economic growth. It is a source of both increased productivity and technological advancement. Human capital development is all about investing in personnel training and growth to ensure that the total objectives and organizational, goals are met yesufu 2000. Challenges, sustainable, human capital, development and christian moral education introduction human capital development is a process of enhancing skills, productivity, knowledge and. Challenges and new responsibilities of the teacher odu oji kennedy department of technical and business education, delta state university, abraka, delta state,nigeria email. However, the effect of human capital on sustainable industrial development in nigeria has not been adequately explored.
The challenge of implementing the sustainable development. To realise the vision of becoming one of the top economies in the. Impact of human capital development on economic growth. Impact of human capital development on poverty reduction. The research analyses the role of human capital development on nigeria economic growth, the policies government has developed so far to improve human capital in nigeria, the reason why some failed and how all this play roles in driving the economic growth of the country. The united nations conference on sustainable development reaffirmed the. Based on the above finding recommendations were made on improving human capital development in nigeria. Olaniyan and okemakinde 2008 in their studies titled human capital theory. Higher education as a tool for human capital development in.
Apr 28, 2017 firstly and most importantly is our education system. A poor country is a country, which never invested sufficiently in its human capital development and the citizens who are supposed to be at the centre of the economic growth would be poverty stricken. Developed and developing countries put emphasis on a more human capital. Hdi trends for nigeria, cameroon and mauritania, 20052018 nigerias 2018 hdi of 0. Abstract from the current phenomenon, the major factor facing the country nigeria is the leadership problem. First, it reports on the key developments in the nigerian economy in the recent past. Deloitte conducted an online survey to assess the key human capital trends in africa and the readiness of business and hr executives to meet these challenges. The broad objective of the study is to study the state and nature of human capital development in the nigeria federal civil service with the view of identifying its challenges under goodluck jonathan administration. Impact of human capital development on poverty reduction in nigeria chikelu james chukwubudom department of economics, faculty of social sciences, nnamdi azikiwe university awka, anambra state, nigeria.
Obianuju mary chiekezie and others published corruption as a major challenge of human capital development in nigeria find. Key human capital challenges facing organizations today. With a population bigger than any other continents, africa has a huge asset and a strong competitive advantage. Overview of nigeria s human capital development performance and ranking1 rank 0. Nigeria is greatly endowed with both human and mineral resources, but has low human capital development. Nigeria biannual economic update investing in human capital. The sdgs have adopted an allinclusive approach, taking on board challenges faced by all nations and promoting the cooperation between the private and public sector in the execution of the goals. Empirical study of training and development as a tool for. Among the greatest challenges facing many countries today are inadequate human capital investment and high unemployment rates among youth. All things being equal, the better the quality of an organizations human capital the more successful it will be. Leadership problem has contributed to this challenge.
Control of hr programmes and laid down procedures i. Hvdc high voltage direct current icpc independent corrupt practices commission. The african development banks human capital strategy aims to harness the potential of 1 billion africans through skills development and investments in new technologies to promote quality jobs and workforce competitiveness. Wilson, geoff briscoe empirical analysis of human capital development and economic growth in european regions hiro izushi, robert huggins nonmaterial benefits of education, training and skills at a macro level andy green, john preston, lars erik malmberg. Human capital development and economic growth in nigeria. More specifically the study sought to find out types of data stored in. The study examined the challenges of human capital development in nigeria federal civil service under goodluck jonathan administration 20102015, the. Human capital development in nigeria article in economics and organization of enterprise 53. It finds that nigerias efforts at developing formidable human capital is challenged by certain inadequacies in the education and health sectors such as.
There is relationship between research and human capital development. Globalization and the challenges of national development. Nigeria has this in abundance but it can become a problem if not well developed. Paul corley distinguished chair in organizational behavior at the smu cox school of business, has provided the following thoughts on the key human capital challenges facing organizations today. The challenge of human capital development in nigeria nigeria is dismally ranked 151 among the 177 countries rated in the 2004 human development report. Youth population trends and sustainable development. Key development challenges facing the least developed. Human capital development is seen as a focal point for pivoting industrial development, for reducing the level of unemployment and increasing the supply of entrepreneurs in any economy. Selected developing countries ranked on the human development index. Human capital trends survey and analysis conducted by deloitte. The study of this nature is prompted by the slow rate of nigerias economic growth despite the huge contribution of the government. What is the role of human capital in economic development. Leadership as a challenge to human capital development in nigeria.
More specifically the study sought to find out types of data stored in lawson. The human capital project this urgent challenge is why president kim has put the full backing of the institution behind a new human capital project. What are the challenges facing human capital in nigeria. Impact of human capital development on poverty reduction in. Nigeria biannual economic update investing in human. However, this has been hampered as a result of internal problems. Higher education as a tool for human capital development. Introduction in recent times, the development of human capital has been the focus of concern towards the development of a nation. This study examines the impact of human capital development on poverty reduction in. Entrepreneurship education as a strategy for boosting human capital development and employability in nigeria.
The human development report of 1999 ranked nigeria 146 as against 142 in 1998 out of 174 countries covered in the report, and categorises it among the low human capital development countries of the world, while south africa, human capital development. The role of human capital in industrial development. The underdeveloped countries need human capital to staff new and expanding government. Researches on this topic being carried out over the years have not really achieved its prior objective. The panacea for sustainable national growth and development in nigeria. This report summarises the talent and hr trends and priorities that are likely to. Leadership as a challenge to human capital development in.
The world bank group is committing to help countries prioritize human capital in a sustained way, given the deepening recognition that jobs and skilled workers are key to national progress in. These are not simply costs but investment with valuable returns that can be calculated. Impact of human capital development on economic growth in nigeria. The challenges the university faces are identified in section five while some suggestions for the way forward are put across in section six. Problems and prospects of human capital development in nigeria. Evidence from developmental economics 267 concept as traditionally defined to say that expenditures on education, training, and medical care, etc.
The role of higher education in human capital development by. Impact of human capital development on economic growth of. Challenges for developing human capital in nigeria. The purpose of this was to examine the challenges of human capital management information system lawson, version 9 in local government authorities as it helped better performance in local government authorities. Find out the state of human capital development in nigeria civil service. The greatest investment any nation can make is in the development of her human capital.
Human capital development with a population bigger than any other continents, africa has a huge asset and a strong competitive advantage. However, the paper posits that the form of education that will translate to economic growth, especially, in nigeria must place emphasis on the access to, content and openness of the education programmes to labour market demand. This problem has been on right from the time of her independence. The role of higher education in human capital development. Challenges and new responsibilities of the teacher odu oji kennedy department of technical and business education, delta state university, abraka, delta state, nigeria email. Africa human capital trends 2014 deloitte united states. Challenges of research and human capital development in. Introduction knowledge is the engine that drives economic growth, and africa cannot eliminate poverty without first increasing and nurturing its intellectual capital.
To realise the vision of becoming one of the top economies in the world, nigeria must produce world class manpower. Firstly and most importantly is our education system. The economic importance of human capital in modernization. Human resource, development, wealth creation, poverty reduction and vision 20. Human resource management challenges in nigeria under a globalised economy francis c. Human or social capital is indispensable to development. Strategies to overcome these challenges were also proffered such as improving the standard of education, investment in research and. Human capital development african development bank.
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