This article is aimed at providing empirical evidence on the impact of human capital development on industrial growth in Nigeria. Time series data spanning 1976-2016 period on relevant variables were analyzed using both descriptive and econometric techniques. ADF procedures were used to test for stationarity of the variables. The results show that the variables moved towards equilibrium in the long-run. The results also show that recurrent expenditure on education and health has a negative impact on industrial growth. The goodness of fit was encouraging. This article asserts that rigorous pursuance of graduate skill acquisition programmes as well as adherence to the 26 per cent minimum budgetary allocation demanded by UNESCO for education which will spur improvement in human capital development will impact industrial growth positively. More-so, incentives such as tax holidays, pioneer reliefs and exemptions that aids increased investment in industrial growth be vigorously pursued by governments at all levels in Nigeria.
One-Window Solution to Skills Development of War-Struck Youth of Northern Region of Pakistan (Published)
The counter terrorism operations have severely affected the residents of Khyber PakhtunKhwa (KPK) and Federally Administered Tribal Areas (FATA) due to their displacement, loss of jobs, businesses, homes, friends and means of education. Making these regions Taliban-free is not enough; the government of Pakistan needs to offer a one-window solution to sustainable economic independence of the people in the war-struck regions. They must be equipped with vocational skills in employment promising sectors in Pakistan as well as in international markets. The one-window solution for high quality skills development system can be achieved by focusing on curriculum development, job placement in industry & self-employment generation, as a whole process. The working mechanism of technical training institutes must include industry leaders, relevant government bodies, micro-finance creditors, training providers & other stake holders as associates who will work as consortium to provide one window solution for developing employment generation skills amongst the unemployed & unprivileged section of society and improving their living standards.
The study examined the effect of human capital development on financial performance of banks in Nigeria. The specific objective was to determine the extent to which the banks PDW affects the PAT, TR and the NA. The research design employed was a cross sectional survey design. Time series data which comprise PDW, PAT, TR, and NA of quoted commercial banks in the NSE were the secondary data used. Statistical tools of Multiple Linear Regression and student t-test were used for the analysis. The regression model was estimated through the use of statistical package for social sciences (SPSS). The three null hypotheses used in this study were tested at 5% level of significance. The result obtained showed a no effect on PAT and no effect on TR, but a negative effect on NA. The p-value for all the independent variables are not significant. The F-test showed a good fit for the model. The study therefore concludes that banks have not invested adequately on human capital development that is why the effect on financial performance is not significant. Therefore commercial banks in Nigeria are advised to give more attention to human capital development by way of training and adequate welfare to enhance their productivity.
Analysis of the Relationship between Human Capital Development and Economic Growth in Nigeria (Published)
This research examined the effect of human capital development on the growth of Nigeria economy. The objectives of the study include to: (i) determine the extent to which significant long-run relationship exist among the human capital development and economic growth in Nigeria, (ii) determine if expenditure on education has significant effect on economic growth in Nigeria, (iii) investigate if expenditure on health has significant effect on economic growth in Nigeria. Using co integration techniques to investigate the effect of human capital development and economic growth in Nigeria, we obtained the following results. (i) there is significant long-run relationship between human capital development and economic growth in Nigeria. This is confirmed by the Johansen co-integration. (ii) It was estimated from the VECM, 1% increase in the government expenditure on education (TEDU), on the average led to 23.8% increase in GDP while. 1% increase in the government expenditure on health (THEA) caused 37.6% decrease in GDP. (iii) The two variables as human capital development factor were found to have significant effect on economic growth. However, government expenditure on education has positive relationship with GDP. This implies any increase in expenditure on education contributes positively to the growth of the economy. Based on the findings, the policy implications are in three directions (i) to retain the continuous long run relationship with GDP and human capital development, effort should be made to harmonize the activities in the health and education sector with much attention on funding. The harmonization of the activities in these two sectors will have long run effect on the economy. (ii) as one of the factors of human capital development, government expenditure on education was found to have positive effect on the economy. In the light of this, government should try as well to meet up with world standard benchmark on education expenditure in the annual budget. In so doing, this will improve on the economy. (iii) government expenditure on health was found to have negative effect on the economy. Therefore, effort should be made by government to address the agitations by the health workers which always make them to resort to frequent strike actions. If these worrying issues are addressed, the instability experienced in the health sector will be solved. This will go the long way promoting the economy. More so, efforts should be made to equip our health sector so that capital flight in the name of foreign medical treatment is reduced.
THE INTERFACE BETWEEN GOVERNMENT POLICIES, HUMAN CAPITAL DEVELOPMENT AND POVERTY REDUCTION IN NIGERIA (Published)
There can be no significant development in any country without functional and adequate human capital development. The reasonability of every government is determined to a larger extent on the ability of the government to better the lives of its citizens through the development of sound macroeconomic policies that will reduce poverty and inequality, controlled growth rate of population, attainment of high per capita income, programmed external borrowing and so on. The cumulative effect of these is to a greater extent the elimination of poverty and inequality in a nation. On the contrary, the major issues of critical concern in Nigeria in particular and developing nations in general are weak and poor policies resulting into high level of poverty and inequality. In view of the above, this paper seeks to examine the relationship between Government Policies, Human Capital Development, Poverty and Inequality Reduction thereby examining the policies of various regimes in Nigeria and how these policies have affected level of inequality and poverty in Nigeria. The following questions were raised to guide the writing of this paper. 1. What is meant by the following concepts: governance, poverty, inequality, human capital development? 2. What are the causes of poverty in Nigeria? 3. What are the possible solutions to human capital development problems, inequality and poverty? 4. Can Nigeria meet the targets as set by MDGs by 2015?
The methodology adopted in this presentation is theoretical in approach. It is important to note that as laudable as some of these policies and programmes were, the sincerity of their establishment and poor implementation mechanism were the major causes of failure of these policies, resulting into high level of poverty and inequality in the society. In view of this, the paper therefore recommended that there should always be sincerity in the establishment of policies, faithful implementation of transformation agenda, NEEDs, MDGs, and other supportive programmes, full and proper implementation of Universal Basic Education and other structural levels of our educational policy to mention just a few.
Recently, the death of business organisations in Nigeria is on the increase as business operates in an environment that is embedded with change, risk, high uncertainty, stiff competition, unethical business practices, unfavourable government policies and ignorance of the role of mentors in business development. Mentoring is rapidly becoming recognised worldwide as a highly effective human resource development process. Many organisations have gone through or are currently going through increasing significant change. Generally, people in any organisation react positively to change when they take responsibility for their own development. Mentoring is one way in which organisations can provide this assistance as there is a high degree of trust and mutual regard which will enable the person to become what he aspires to be by realising his or her potential. Mentoring has being identified as an important influence in business development. The major function of mentoring is to promote the mentee’s development in specific areas and to facilitate success in business activities. Mentoring relationship can produce positive development and organisational outcomes and it can sometimes fail due to a variety of causes and problems viz-a-viz lack of participation, absence of leadership involvement, poor planning, setting unrealistic expectation and fuzzy goals. The paper examines the roles of mentoring in business development. It focuses on the stages, forms, reasons, types, roles and characteristics of mentors, fundamental objectives, benefits and keys to mentoring success with a view to accelerate business development through investment in human capital development particularly through mentoring. The paper opines that mentorship and business development offers a wide range of benefits such as welfare, satisfaction, development, progress, feeling rejuvenated in career development, learning how to use new technologies, becoming aware of business issues, methods, strategies or perspectives that are vital to business. Content analysis was used in the writing of this paper. Evidence from the paper on the policies that need to be adopted to improve Nigeria’s business environment includes, the need to address those issues constraining business development. The paper also recommends that mentoring should be based upon encouragement, frank advise, readiness to assist the mentee to acquire needed knowledge, skills and competencies so as to operate functionally in our ever changing business environment, constructive comments, openness, mutual trust, respect, willingness to learn and share ideas and experiences, improve self confidence, job competitiveness and enhanced diversity of the workforce. Moreover, there is need to eliminate negative factors that militate against business growth and development with a view to increase business efficiency. There is the need, therefore for a re-orientation of our businesses because mentoring relationships depends on the people and the character of the organisation concerned. The paper concludes that successful mentoring programs as aid to business development requires proper understanding, planning, implementation and evaluation.
THE IMPACT OF HUMAN CAPITAL DEVELOPMENT AND ECONOMIC EMPOWERMENT ON THE SOCIO-ECONOMIC DEVELOPMENT OF AKWA IBOM STATE, NIGERIA (Published)
Human capital development is an indispensable component of the development process. It is a development strategy aimed at fulfilling the potentials of people by enlarging their capabilities which necessarily implies the empowerment of the people, and enabling them to participate actively in their own development. It also serve a means through which the skills, knowledge, productivity and inventiveness of people are enhanced. This study therefore, examined the impact of human capital development and economic empowerment in the socio-economic development in Akwa Ibom State. The study adopted a historical and descriptive approach in data collection. The study therefore revealed that from 1999 to 2012, the government being the foremost driver of the economy has made a positive impact on the training and retraining of workers in the public sector. This has made the public sector more vibrant, efficient and result-oriented. The study also revealed that aside from training, the government also embarked on elaborate empowerment programme which has helped so many to become self-employed as well as employer of labour. The study further revealed that government failed to give priority need in their training programme to the critical areas in the state namely oil and gas for effective participation of this sector by the Akwa Ibomites. On the strength of this, the study recommended among others that government should embark on extensive training of domestic engineers in the areas of oil and gas in the state. Also government should encourage individuals and private sector to increase investment in human capital and economic empowerment in the state.