Impact of Human Capital Development on Economic Growth in Nigeriainventionjournals
The study examines the impact of human capital development on economic growth in Nigeria. The study sought to find out how human capital development (education and health) contributes to economic growth (GDP, unemployment and employment rate) in Nigeria. Investment in Education and health are always not considered in Nigeria which limits the economic growth in Nigeria thereby not contributing to gross domestic product in Nigeria. Poor consideration of human capital development result to high level unemployment, low GDP and low employment rate in Nigeria. The main objective is to examine the impact of human capital development on economic growth in Nigeria. Time series data were collected from secondary source from 1999-2015. The Ordinary Least Square was adopted and finding reveals that human capital development and economic growth in Nigeria is insignificant. The study also found that human capital development contributes to unemployment rate in Nigeria but does not contributes to GDP and employment rate in Nigeria. It is therefore recommended that Nigeria government should re-strategies its human capital development policies and develop a programme to solve human development needs in terms of education and health since there is insignificant relationship between human capital development and economic growth.
The significance of human capital to the growth and development of economies of the world cannot be overemphasized. Thus, government investment in health and education is imperative.
The nature of work is changing both globally and locally here in Nigeria. How can the government prepare its workforce to seize the opportunity that comes with disruption?
Preparing for the changing nature of work in nigeriaAzubike_Emechebe
The future of work is rapidly changing and all stakeholders need to be prepared in order to maximize the benefits as well as mitigate the risk resulting from technological advancement.
Dr.C.Muthuraja's 'Economic Growth Rate in India : Issues and Concerns' Chinnasamy Muthuraja
Economic Growth Rate in India : Issues and Concerns Presented in One Day Workshop on ‘Economic Growth Rate in India’ on 30.03.2016 organized by Department of Economics, Mannar Thirumalai Naicker College, Madurai
Impact of Human Capital Development on Economic Growth in Nigeriapaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic growth. Thus, enhancing effective investment on education and health has been a tenet of growth and development strategies for most countries. The basic objective of this paper investigated the relationship between human capital (through education and effective health care services) and economic growth in Nigeria, using annual time series data from 1980 to 2012. The paper employs OLS methodology. The result shows that considering the magnitude, 1% increase in GDP is brought about by 22% increase in human capital. This postulates that an increase in allocation to education and health will lead to increase in GDP. The estimated value of R2 (goodness of fit) of 0.80 or 80% and it show that the independent variables explain about 80% of the variation in the dependent variable. The findings have a strong implication on educational and health policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational and health investment in order to accelerate growth which would engender economic growth.
Impact of Human Capital Development on Economic Growth in Nigeriainventionjournals
The study examines the impact of human capital development on economic growth in Nigeria. The study sought to find out how human capital development (education and health) contributes to economic growth (GDP, unemployment and employment rate) in Nigeria. Investment in Education and health are always not considered in Nigeria which limits the economic growth in Nigeria thereby not contributing to gross domestic product in Nigeria. Poor consideration of human capital development result to high level unemployment, low GDP and low employment rate in Nigeria. The main objective is to examine the impact of human capital development on economic growth in Nigeria. Time series data were collected from secondary source from 1999-2015. The Ordinary Least Square was adopted and finding reveals that human capital development and economic growth in Nigeria is insignificant. The study also found that human capital development contributes to unemployment rate in Nigeria but does not contributes to GDP and employment rate in Nigeria. It is therefore recommended that Nigeria government should re-strategies its human capital development policies and develop a programme to solve human development needs in terms of education and health since there is insignificant relationship between human capital development and economic growth.
The significance of human capital to the growth and development of economies of the world cannot be overemphasized. Thus, government investment in health and education is imperative.
The nature of work is changing both globally and locally here in Nigeria. How can the government prepare its workforce to seize the opportunity that comes with disruption?
Preparing for the changing nature of work in nigeriaAzubike_Emechebe
The future of work is rapidly changing and all stakeholders need to be prepared in order to maximize the benefits as well as mitigate the risk resulting from technological advancement.
Dr.C.Muthuraja's 'Economic Growth Rate in India : Issues and Concerns' Chinnasamy Muthuraja
Economic Growth Rate in India : Issues and Concerns Presented in One Day Workshop on ‘Economic Growth Rate in India’ on 30.03.2016 organized by Department of Economics, Mannar Thirumalai Naicker College, Madurai
Impact of Human Capital Development on Economic Growth in Nigeriapaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic growth. Thus, enhancing effective investment on education and health has been a tenet of growth and development strategies for most countries. The basic objective of this paper investigated the relationship between human capital (through education and effective health care services) and economic growth in Nigeria, using annual time series data from 1980 to 2012. The paper employs OLS methodology. The result shows that considering the magnitude, 1% increase in GDP is brought about by 22% increase in human capital. This postulates that an increase in allocation to education and health will lead to increase in GDP. The estimated value of R2 (goodness of fit) of 0.80 or 80% and it show that the independent variables explain about 80% of the variation in the dependent variable. The findings have a strong implication on educational and health policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational and health investment in order to accelerate growth which would engender economic growth.
these slides are according to Pakistan HDI and covering the aspects and some important details of HDI.
Little bit description and introduction of HDI as well.
Small assignment I did to investigate Human Development Indicators of Pakistan V Srilanka V UAE and couple more.
All data is available from UNDP Website
The Role of Education and Health in human capital development, Even though there are different perspectives to economic growth, there is a general con¬sensus that growth will lead to a good change manifested in increased capacity of people to have control over material assets, intellectual resources and ideology, and obtain physical necessities of life like food, clothing, shelter, employment, etc. The belief in human capital as a necessity for
This presentation explains all the important points about one of the major measures of development of a country that is the Human Development Index. This presentation includes the definition,history,dimension, calculation,geographical coverage, past top countries and the criticism of Human Development Index.
The Local Human Development Index - policy tool in PolandPiotr Arak
OECD-Universities Joint Conference
July 2013 — France
“Economics for a Better World”
This will be the third international conference of economists interested in welfare economics and public policy broadly defined. This 3rd conference will follow those organised in Oxford (July 2009) and Paris (July 2011). The 2013 OECD-Universities Joint Conference will be informed by the work done over the past decade by economists, statisticians and social analysts to develop broad measures of well-being, and touch on some of the well-being dimensions included in recent OECD reports on the subject. The conference will feature research papers, panel discussions and plenary talks organised by researchers from a range of institutions in Europe, mainly.
An immediate investment in human capital, the solution to poverty reduction OsamudiamenKessitonE
This article critically examines the problem of human capital underdevelopment in Nigeria, it's effects of poverty and how to tackle this growing menace.
Human Capital Development as a Recipe for Sustainable Growth in Nigeriapaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic growth. Thus, enhancing effective investment on education and health has been a tenet of growth and development strategies for most countries. The basic objective of this paper investigated the relationship between human capital (through education and effective health care services) and economic growth in Nigeria, using annual time series data from 1981 to 2013. The paper employs OLS methodology with BLUE assumptions, wald test, breusch Godfrey and pairwise granger test was also used to argument the OLS methodology. The result shows that considering the magnitude 1% increase in RGDP (proxy Economic growth) is brought about by 46% increase in (EXPHLTH) expenditure on health, 107% increase in (GFCF) gross fixed capital formation, 92% increase in (TEXPEDU) total expenditure on education, 0.00091% increase in (TLBF) Total labour force. The estimated value of R2 (goodness of fit) of 0.98 or 98% and it show that the independent variables explain about 80% of the variation in the dependent variable. The findings have a strong implication on educational and health policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational and health investment in order to accelerate growth which would engender economic growth.
these slides are according to Pakistan HDI and covering the aspects and some important details of HDI.
Little bit description and introduction of HDI as well.
Small assignment I did to investigate Human Development Indicators of Pakistan V Srilanka V UAE and couple more.
All data is available from UNDP Website
The Role of Education and Health in human capital development, Even though there are different perspectives to economic growth, there is a general con¬sensus that growth will lead to a good change manifested in increased capacity of people to have control over material assets, intellectual resources and ideology, and obtain physical necessities of life like food, clothing, shelter, employment, etc. The belief in human capital as a necessity for
This presentation explains all the important points about one of the major measures of development of a country that is the Human Development Index. This presentation includes the definition,history,dimension, calculation,geographical coverage, past top countries and the criticism of Human Development Index.
The Local Human Development Index - policy tool in PolandPiotr Arak
OECD-Universities Joint Conference
July 2013 — France
“Economics for a Better World”
This will be the third international conference of economists interested in welfare economics and public policy broadly defined. This 3rd conference will follow those organised in Oxford (July 2009) and Paris (July 2011). The 2013 OECD-Universities Joint Conference will be informed by the work done over the past decade by economists, statisticians and social analysts to develop broad measures of well-being, and touch on some of the well-being dimensions included in recent OECD reports on the subject. The conference will feature research papers, panel discussions and plenary talks organised by researchers from a range of institutions in Europe, mainly.
An immediate investment in human capital, the solution to poverty reduction OsamudiamenKessitonE
This article critically examines the problem of human capital underdevelopment in Nigeria, it's effects of poverty and how to tackle this growing menace.
Human Capital Development as a Recipe for Sustainable Growth in Nigeriapaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic growth. Thus, enhancing effective investment on education and health has been a tenet of growth and development strategies for most countries. The basic objective of this paper investigated the relationship between human capital (through education and effective health care services) and economic growth in Nigeria, using annual time series data from 1981 to 2013. The paper employs OLS methodology with BLUE assumptions, wald test, breusch Godfrey and pairwise granger test was also used to argument the OLS methodology. The result shows that considering the magnitude 1% increase in RGDP (proxy Economic growth) is brought about by 46% increase in (EXPHLTH) expenditure on health, 107% increase in (GFCF) gross fixed capital formation, 92% increase in (TEXPEDU) total expenditure on education, 0.00091% increase in (TLBF) Total labour force. The estimated value of R2 (goodness of fit) of 0.98 or 98% and it show that the independent variables explain about 80% of the variation in the dependent variable. The findings have a strong implication on educational and health policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational and health investment in order to accelerate growth which would engender economic growth.
Proposed solutions to the problems associated with the changing nature of wor...OtobongEssiet
MOOC final project on the proposed solution to the issues associated with the changing nature of work.
Over the last century, technology has created more jobs than it has displaced. This column presents an overview of ways in which technology and innovation are changing the nature of work, leading to demand advanced cognitive skills and greater adaptability among workers. The rise of platform marketplaces is also changing the way people work and the terms on which they work, which requires a rethinking of social protection systems.
Nigeria and the Changing Nature of Work: A Digital Artifact by Nna Adejumoke JUMOKE AJIBOLA
This is a digital artifact that conveys how the nature of work is changing in Nigeria and what the Nigerian government can do to prepare and support its workforce. It talks about various critical issues; like unemployment, maternal deaths and childhood mortality. It also talks about stunting, healthcare and malnutrition among other issues and suggests solutions to these problems.
Final project artifact on the future of workSylvesterEdor1
Being an Artifact presentation required for the award of a verified certificate in respect of the course on The Future of Work organised by edx.org in collaboration with the World Bank Group
Smart Healthcare Revolution The Role of Healthcare Sectors The Contribution t...WerkDone
The healthcare sector is essential to the well-being of society. Prioritising good healthcare and remaining connected with the community will, in the long run, provide invaluable support to a nation's economy and help forge a better future 🤝 🤝
#Werkdone #SmartHealthcare #Solutions #BetterCare
Human capital refers to the stock of skill, ability, expertise, education, and knowledge in a nation at a point of time. We need investment in human capital to produce more human capital out of human resources.Nations require adequate human capital who are educated and qualified as educators and other specialists. In other words, we need great human capital to create other human capital like doctors, engineers, professors, etc., which will later become a human asset and contribute to the economy of the country.Human resources are the people who are part of the workforce and contribute to the productivity of a country. The quality and efficiency of human resources depend on factors such as health, education, skills, and motivation. Different countries have different levels of human resource development and potential. For example, India has a large and young population that can provide a demographic dividend if properly educated and employedThe term human resources refers to the size of the population of a country along with its efficiency, educational qualities, productivity, organisational abilities and farsightedness. It is the ultimate resource, but not equally distributed over the worldIndia has 62.5% of its population in the age group of 15-59 years which is ever increasing and will be at the peak around 2036 when it will reach approximately 65%.These population parameters indicate an availability of demographic dividend in India, which started in 2005-06 and will last till 2055-56.According to Economic Survey 2018-19,India’s Demographic Dividend will peak around 2041, when the share of working-age,i.e. 20-59 years, population is expected to hit 59%.India has one of the youngest populations in an aging world. By 2020, the median age in India will be just 28, compared to 37 in China and the US, 45 in Western Europe, and 49 in Japan.Since 2018, India’s working-age population (people between 15 and 64 years of age) has grown larger than the dependents population — children aged 14 or below as well as people above 65 years of age. This bulge in the working-age population is going to last till 2055, or 37 years from its beginning.This transition happens largely because of a decrease in the total fertility rate(TFR, which is the number of births per woman) after the increase in life expectancy gets stabilised.A study on demographic dividend in India by United Nations Population Fund (UNFPA) throws up two interesting facts.The window of demographic dividend opportunity in India is available for five decades from 2005-06 to 2055-56, longer than any other country in the world.This demographic dividend window is available at different times in different states because of differential behaviour of the population parameter.
Investment in human capital are central to development, delivering substantial economic benefits in the long term. However, the benefits of these investments often take time to materialize and their benefits to the society are not always visible, leading to underinvestment in human capital. The Human Capital Index quantifies the contribution of health and education to the productivity of the next generation of workers. Nigeria whose capital index (HCI) is 0.34, has been ranked 152 out of 157 countries in the first-ever Human Capital Index released by the World Bank Group which makes is one of the worse in the world.
The Impacts of Health and Education Components of Human Resources Development...iosrjce
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
The State of the Youth Report is an audit of the Government of Uganda's investment in Young People. It is based on the demands made by the young people contained in the 2016-2021 National Youth Manifesto.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
2. • What is Human Capital?
• Human Capital in Nigeria
• The Human Capital Index
• Building Human Capital in Nigeria
• Conclusion
OUTLNE
3. Human capital is a measure of the skills, knowledge, and experience possessed by
an individual or population, viewed in terms of their value or cost to an
organization or country. A few of these include education, skill, experience,
creativity and good health. It has large payoffs for individuals, societies, and
countries such as increased earnings and social capital, a healthy and productive
population which translates to increased economic returns and high GDP.
WHAT IS HUMAN CAPITAL?
4. Nigeria is immensely endowed both in natural and human resources but
unfortunately this has not translated to efficient development and utilization of
human capital. Two key factors to gauge the development of human capital are
education and health.
According to UNICEF, 10.5 million children are currently out of school in
Nigeria. This is the highest population of out of school children in the world.
Education accessibility in Nigeria is at 20.1% which is very low.
The health sector does not fare better either. A survey conducted by Philips, a
global leader in health technology show that 52% of Nigerians surveyed trust the
healthcare system, although only 36% feel that their healthcare needs are being
met. This highlights a clear discrepancy between the expectations of Nigerians
and the reality of the healthcare system, indicating inefficiencies and ample room
for growth. The World Bank’s Service Delivery Indicators surveys conducted in
seven countries in Sub-Saharan Africa show that less than 50 percent of Nigerian
doctors were able to correctly diagnose a basic condition such as neonatal
asphyxia.
HUMAN CAPITAL IN NIGERIA
7. The human capital index is an international metric to benchmark certain
components of human capital across countries. The new index measures the
amount of human capital that a child born in 2018 can expect to attain by age
18 in view of the risks of poor education and poor health that prevail in the
country in which she was born. The index is designed to highlight how
improvements in the current education and health outcomes shape the
productivity of the next generation of workers: it assumes that children born
in a given year experience current educational opportunities and health risks
over the next 18 years. A focus on outcomes—and not inputs such as
spending or regulation—directs attention to results, which are what really
matter. It also makes the human capital index relevant to the policy makers
who design and implement interventions to improve these outcomes in the
medium term.
THE HUMAN CAPITAL INDEX
9. The human capital index has three main components:
1. A measure of whether children survive from birth to school age (age 5).
2. A measure of expected years of quality-adjusted school, which combines
information on the quantity and quality of education.
3. Two broad measures of health—stunting rates and adult survival rates
The human capital index is measured in terms of the productivity of the next
generation of workers relative to the benchmark of complete education and full
health. Out of 157 countries listed, Nigeria is placed at a pitiable 152nd position
with a value of 0.34 out of a possible value of 1.00. This means when a child born
today in Nigeria would be entering the labor market, he/she would have attained
only 34% of his/her economic and productivity potential.
THE HUMAN CAPITAL INDEX
10. A first step is improving the quality of basic administrative data in education
and health. UNESCO just recently launched its Global Education Monitoring
(GEM) Report in Nigeria which will help track development in the education
sector. Monitoring of even the most basic health information(births and
deaths) is quite low and this needs to be improved on. High-quality basic
administrative data are essential for governments to understand their needs
and to plan the allocation of public services.
The architecture of the brain forms from the prenatal period to age 5, and so
this is an important stage for developing cognitive and socio-behavioral skills.
Early investments in nutrition, health, social protection, and education lay
strong foundations for the future acquisition of cognitive and socio-
behavioral skills. They also make future skills acquisition more resilient to
uncertainty. Early childhood investments are an important way to improve
equality of opportunity.
BUILDING HUMAN CAPITAL IN
NIGERIA
11. Other possible solutions are investing heavily in the education sector primarily
in advanced research and technology based tertiary institutions to build a
critical mass of innovators that would help use technology to drive localized
development.
Also, over 70% of workers in Nigeria operate in the informal sector and are
not covered by any form of social protection. Initiating a comprehensive
social protection scheme that covers education and health of children in their
formative years and also covers workers irrespective of the nature of their
work would have long term benefits on the health and education of the
current and future generation of Nigerians. All these can be effectively
implemented by leveraging digital technology so as to reach Nigerians
especially those in rural areas.
BUILDING HUMAN CAPITAL IN
NIGERIA
12. Building human capital is essential in adapting to the changing nature of work
caused by automation and globalization. Nigeria like most Sub-Saharan
African countries need to invest heavily in developing its human capital, basic
social protection and productive opportunities for youth. This requires huge
fiscal resources of around 6-8 % of GDP.
Most of the required fiscal resources are likely to come from improved
capacity in tax administration and policy changes, particularly to value added
taxes and through expansion of the tax base. Nigeria could raise, on average,
from 3 to 5 percent of GDP in additional revenues through reforms that
improve the efficiency of the current tax systems. Other taxes like property
and excise taxes could also contribute to the financing of human capital.
Closing tax exemptions and converging toward a uniform tax rate in value
added tax could raise further revenues.
CONCLUSION