Human Capital Development and Sustainable Growth in Nigeria: Lessons from East Asia (Published)
The study basically focused on the indispensable roles human capital development plays to achieve sustainable socioeconomic growth in Nigeria. Human capital development encompasses academic and technical skills a labour force acquires for impressive output performance. Besides, the study sought to identify the encumbrances to sustainable socioeconomic growth in Nigeria. It was a qualitative study with secondary data drawn from journal articles; newspapers; books; conference materials; seminar papers; statistical tables, and internet. The study was designed to anchor on human capital theory as espoused by Gary Becker; Jacob Mincer and Theodore Schultz as framework of analysis while trend analytical technique was adopted as method of data analysis. The outcome of the study revealed that there is a relationship between well-funded and professionally managed formal and vocational education and human capital development/sustainable growth in a state, citing its proof in socioeconomic miracle in East Asia countries. This finding is expected to open a frontier of knowledge that will provoke a gamut of intellectual insight in the human capital development and sustainable growth. The study recommends Nigeria should invest in human capital via education and training, and also have strong belief in the ability of quality education to ensure takeoff of sustainable growth.
Keywords: sustainable growth; human capital development; east asia; human capital; budget