Human Capital Formation as Catalyst for National Development: Nigeria in Perspective

Emmanuel S. I. Ejere

Abstract


Abstract: It is a fact that the difference in socio-economic development across independent states is due not so much to natural resources endowment and the stock of physical capital but to the quality and quantity of human resources. This paper therefore highlights the importance of human capital formation in the development process with particular reference to Nigeria. The paper noted that the human capital question is especially pertinent now that the country is aspiring to be among the top 20 economies of the world by the year 2020. This is because Nigeria (and by extension Nigerians) need to become competitive in the 21st century globalize economy which is skill and knowledge based.
Key words: Development; Education; Economic Growth; Human Capital; Human Capital Formation; Human Capital Development; Human Resources; Training

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