Vice Chancellor of the University of Calabar, Prof. Florence Obi, has stated that human capital development is not a luxury; but a necessity for Nigeria's continued growth and prosperity.
Prof. Obi made this known while delivering the 2024 Bullion Lecture with the theme: “Human Capital Development: Catalyst for Nigeria’s Prosperity” at the annual lecture series (8th Edition), organised by the Centre for Financial Journalism, at the Civic Centre, Ozumba Mbadiwe, Victoria Island, Lagos on the 18th of April 2024.
She said that by investing in people, we invest in a brighter future for all, adding that it was important for Nigerians to work together as a united nation to unlock the full potential of our human capital and propel Nigeria towards a future of shared success and prosperity.
The VC, who is the first female to deliver the lecture since its inception, stressed that the path to Nigeria’s prosperity lies in the development of our human capital.
“It is not a quick fix solution or a one time investment-it is a sustained commitment to nurturing the potential of every Nigerian regardless of their background or circumstances,” she said.
According to her, the responsibility should not only rest on our shoulders or that of the government or the relevant ministries, rather, it should be a collective effort that requires collaboration between government, private sector, civil societies, and educational institutions.
“Together, we can build a Nigeria where every child has access to good education, every citizen can live a healthy life, and every dreamer can achieve their aspirations,” she said.
Speaking on how human capital development can serve as a catalyst for Nigeria’s prosperity, she stated that it can only happen when the nation invests adequately in the citizens through proper motivation and incentive, law-abiding, conscientious, hardworking, which will bring about economic growth, social progress and national development.
According to her, investing in human capital is akin to investing in the engine that propels the car.
She, however, called for the reform of the country’s educational curriculum and so that there should be more emphasis on technical education and mentoring.
On gender, she said that: “We cannot talk about human capital development without addressing issues of gender inequality, discrimination, and social exclusion. When we empower women, the vulnerable and the marginalised groups, we unlock a wealth of untapped talent and creativity for the country’s prosperity.
Prof. Obi further stated that the Federal Government was already creating an enabling environment for entrepreneurs to thrive.
She advocated for a trust fund to be set up for young innovators to access funds to promote small and medium scale businesses.
“The repositioning of the National Directorate of Employment to build skills and provide mentorship should be looked at seriously. Setting up of more innovation hubs and incubators will nurture the next generation of Nigerian innovators.
“Mentorship and apprenticeship should be encouraged at all levels. For instance, the traditional ‘Igba-boi & Nwa-boi’ trade apprenticeship system in Igboland has contributed immensely in building the human capital in the South-East. The Anambra people are said to have more wealthy businessmen who are millionaires in Nigeria because of the Igba-boi model.
“Opening up opportunities and access to credit for entrepreneurship will have positive rippling effect in creating wealth and prosperity in Nigeria. The country has the Bank of Industry and Bank of Agriculture charged with the mandate of capacity building to energise and catalyse prosperity. Our investment in human capital development should be more strategic, emphasizing the curriculum, values, skills and character building rather than paper qualification and certificate for jobs.
On Private Public Partnership, the UNICAL VC said that increase in the number of business men and entrepreneurs through government support to private investors will invariably enhance public private partnership which involves private capital financing government projects and services.
“As the Vice-Chancellor of the University of Calabar, I am proud to say that we are playing our part in this journey. Our institution is committed to providing quality education, fostering research and innovation, and producing graduates who are not just job seekers but job creators,” she added.
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