The Nigerian Economic Summit Group (NESG), in collaboration with the African Economic Research Consortium (AERC), organised a webinar and dissemination workshop with the theme “Human Capital Development in Africa: Country Case Study – Nigeria.”
Dr Olusegun Omisakin, Chief Economist and Director of Research at the NESG, welcomed participants to the workshop, emphasizing that the event would explore various aspects of human capital development and provide policy recommendations for governments at the national, state, and local levels.
Omisakin highlighted that human capital development is a crucial indicator of a country’s progress, as it influences economic growth, health, employment opportunities, and skills development.
He acknowledged that Nigeria has experienced fluctuations in growth, including periods of recession, which underscore the need to improve human capital development indicators.
Dr Tom Kimani, Lead Manager, Training, African Economic Research Consortium (AERC), explained that the AERC focuses on capacity building for economic policy in Africa, with the dissemination workshop serving as a platform for policy outreach.
The AERC’s research program includes thematic and collaborative initiatives, with a focus on capacity building for young researchers.
During the workshop, Mr Sodik Olofin, an economist at the NESG, presented a paper on “Foreign Direct Investments and Human Capital Development in Nigeria: A Firm-Level Analysis of Manufacturing and ICT.”
He noted that recent FDI inflows into Nigeria have shifted towards technology-enabling sectors such as ICT, education, health, and manufacturing, contributing to knowledge transfers, employment opportunities, and employability.
Another paper titled “Analysing the Determinants of Healthcare Insurance Uptake in Nigeria” was presented by Mr. Wasiu Adekunle, an Economist with the NESG. He highlighted the historically low health insurance coverage in Nigeria, emphasizing that despite the mandatory health insurance policy introduced in 2021, compulsion alone may not guarantee the desired increase in healthcare insurance uptake.
Professor Yelwa Mohammed of the Department of Economics, University of Abuja, presented a paper on “Child Development and Family Human Capital Investment Decisions in Nigeria: A Study of Selected States in the Six Geo-political Zones.”
She stressed the importance of human capital development for Nigeria’s economic growth and productivity, noting that investment in human capital is particularly lacking among low-income rural families.
Dr Kehinde Oluwaseun Omotoso from the National Centre for Technology Management (NACETEM), Obafemi Awolowo University, Ile-Ife, presented on “The Differential Impacts of COVID-19 Pandemic on Education in Nigeria: Implications for Policy Review.”
She highlighted the challenges faced by Nigeria’s education sector, exacerbated by the COVID-19 pandemic, leading to high rates of school absenteeism, dropout, and out-of-school children.
The webinar and dissemination workshop aimed to shed light on human capital development in Nigeria and facilitate informed policy decisions to enhance the country’s progress in various aspects of socio-economic development.
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