Mrs Patience Key, President and CEO, Nigerians in Disapora Chamber of Commerce, has advised President Bola Tinubu to prioritise human capital in his agenda for the citizens to achieve sustainable development.
Human capital is the economic value of a worker’s experience and skills. It includes assets like education, training, intelligence, skills, health, and other things employers value.
Key, 2023 Peoples Redemption Party (PRP) Presidential Aspirant, gave the advice in a paper on “ Human Capital in Nigeria: A call for a People-centric approach to sustainable development’’.
In a paper shared with the correspondent of the News Agency of Nigeria (NAN) in New York, she said it would be imperative for the Nigerian government to prioritise its human capital in light of the current challenges in Nigeria.
Key, also a former Chairman of Nigerians in Diaspora Organisation Americas, USA, said investing in human capital would amount to investing in the nation’s future.
She said that the investment should focus on key areas such as education, healthcare, job creation, and youth empowerment.
“Education must be at the forefront of this endeavor.
“Enhancing the quality of education, aligning curricula with modern workforce demands, and ensuring access for all, including the marginalized and disadvantaged, are crucial steps.
“In terms of health, improving healthcare infrastructure and accessibility will increase productivity and quality of life.
“Job creation, particularly in new and emerging sectors, is another critical area. Leveraging technology and innovation can open new avenues for employment and entrepreneurship.
“Supporting small and medium-sized enterprises (SMEs), which are significant employers in Nigeria, can also stimulate job growth.’’
According to her, direct engagement with youth is essential.
Key said platforms for dialogue between the government and young people could foster mutual understanding and collaborative problem-solving.
She said listening to and incorporating the views and ideas of the youth in policymaking could bridge gaps and build trust.
“The experiences of nations like South Korea and Singapore, which have successfully transformed their economies through human capital development, offer valuable lessons.
“These countries have shown that with strategic investment in education, healthcare, and employment, nations can not only uplift their people but also achieve remarkable economic growth and development.’’
Key, however, offered some recommendations on boosting the human capital in the country.
First, she advised the government to revitalise education and training, noting that a robust educational system was the foundation of a prosperous society.
“Our focus should be on improving educational infrastructure, enhancing the quality of teaching, and aligning curricula with the evolving demands of the global economy.
“Initiatives like vocational training programmes and digital literacy campaigns can equip our youth with practical skills and competencies.”
Second, Key urged the government to focus on healthcare system enhancement, saying that a healthy population was a productive population.
“Strengthening our healthcare system through improved funding, infrastructure development, and accessible healthcare services is imperative.
“Preventative healthcare, mental health, and awareness programs are equally important to ensure holistic wellbeing.’’
Her third suggestion is on incentivising job creation and entrepreneurship, emphasising that the government can play a pivotal role in job creation by fostering a conducive environment for business growth and entrepreneurship.
“Give support for small and medium-sized enterprises, tax incentives for job-creating investments, and development of sectors like technology, agriculture, and renewable energy can create substantial employment opportunities.’’
She also spoke on youth inclusion in governance and that establishing platforms for youth engagement in policy-making processes could ensure that their voices were heard, and their ideas are incorporated.
In addition, key said investing in human capital was investment in the future and that a well-educated, healthy, and skilled workforce were essential for driving innovation, enhancing productivity, and sustaining economic growth.
“The Nigerian government, under the leadership of the president, must adopt a people-centric approach that prioritizes education, healthcare, job creation, and skills development.
“The government should also address the root causes of insecurity and engage its Diaspora population.
“Utilise the global Nigerian Diaspora network for skills transfer and investment. Our citizens abroad are a reservoir of skills, experiences, and resources that can be pivotal in national development.
“By fostering stronger ties and creating platforms for sustainable Diaspora investment, skills transfer and partnerships, we can harness this untapped potential for our country’s progress.’’
Key further emphasised that empowering Nigerians, especially the youth, should be seen as a critical strategy for national security.
According to her, a population that is engaged, skilled, and has access to opportunities is less likely to be swayed by the appeal of extremist ideologies or criminal activities.
“This empowerment can take various forms, from vocational training and entrepreneurship programmes to investments in tech and innovation hubs.
“The wellbeing of Nigeria’s human capital, particularly its youth, should be a top priority for the nation’s leaders.
“The time is ripe for Nigeria to harness the potentials of its human resources through strategic investments and policies.
“Doing so will not only improve the lives of its citizens but will also position Nigeria to achieve its aspirations of being a leading nation in the global arena.’’ (NAN)
By Cecilia Ologunagba
