CFJ Rallies Intellectuals To Drive Discussion On Human Capital Development

University dons, consummate professionals, and cerebral members of the press gathered on Thursday at Civic Center, Victoria Island Lagos to advance the conversation on Human Capital Development, the central point of the Bullion Lecture 2024, organized by the Centre for Financial Journalism (CFJ).

The lecture with the theme: Human Capital Development as Catalyst for Nigeria’s Prosperity, is aimed at empowering people with necessary information and ideas that will enhance their skills to embrace a dynamic landscape, learn new technologies, and navigate complex situations.

It was also an avenue to call on the Nigerian government to look into problems that have bedeviled the educational sector and take appropriate measures that will not only raise the bar but also enable Nigerian graduates to compete with their counterparts across the globe.

In his welcome address, the Founder, Chief Executive Officer, and Chairman Board of Trustees, Center for Financial Journalism, Mr. Ernest Ebi, (MFR) lamented the myriad of challenges militating against human capital development in Nigeria which bears a reflection in the low human development Index ranking. He emphasized the urgent need to address education disparities and stark social inequalities to actualize Nigeria’s human capital development vision.

Also giving his opening remark, Professor Ademola Tayo, Vice Chancellor of Babcock University who is the Chairman of The Bullion Lecture 2024 stressed that the lecture is expected to foster dialogue that will engender Nigeria’s economic transformation.

According to the Professor of Development Education, Nigeria is currently groaning under the weight of high poverty level, out-of-school children, intellectual poverty, and insecurity which snowballed into a lack of human capital development.

“We have not been faring well in our human capital development. This is reflected in our GDP. Investment in human capital is crucial to national development. It is hoped that the lecture will usher in practical solutions to the problem confronting the country.” He said.

Delivering the 8th edition of the annual lecture, titled Human Capital Development, Catalyst for Nigeria’s Prosperity, Professor Florence Banku Obi, Vice Chancellor, University of Calabar unearthed the key ingredients of human capital development and pointed out the indices that rate Nigeria low in that aspect.

The first female VC of Unical disclosed that development is associated with the reduction of poverty, unemployment, and inequality in society. Higher levels of these variables in any society would be synonymous with underdevelopment and social-economic backwardness.

“Nigeria as we all know is a great country that is blessed with abundant human and natural resources. As a nation, we stand at the threshold of greatness. However, to realize this potential, we must realize that our most valuable asset is not our abundant oil, numerous mineral resources, or vast land. It is our people.

“The flourishing wealth and success of a nation and the attendant social-economic well-being and material condition of the people constitute its prosperity. It is a painful paradox that with all its wealth, Nigeria is not prosperous.” Obi lamented

Although, there is clear evidence of investment in Human Capital Development considering the number of schools from primary education to tertiary level, the guest lecturer argued that this goes beyond a physical building, saying it bothers on the quality of education that supports the total development of the learner which includes teachers’ quality, the curriculum, child-friendly environment, safe and non-violent school.

Obi submitted that Human Capital Development can only catalyze Nigeria’s prosperity if there is adequate investment in citizens through the three phases of HDC and follow-up with proper motivation and incentives. With this, the citizens will become more creative, innovative, law-abiding, conscientious, and hardworking which will result in economic growth, social progress, and national development.

The topic was further dissected by panelists made of seasoned intellectuals among whom are Mr Tim Akano, Founder and Chief Executive Officer of New Horizon, Nigeria, and Kanyinsola Mba, Head of Human Capital Management, Oando Energy Resources Limited. It was moderated by Professor Ademola S. Tayo.

The panelists unanimously agreed that for Nigeria to get it right, it must pay attention to human development.

Sharing his thoughts on the subject matter with RovingNaija correspondent, Mr. Gbenga Adefaye, Provost of the Nigeria Institute of Journalism maintained that Nigeria’s problem is more about implementation than developing the concept. He said even at secondary schools now, kids are required to choose a vocation in addition to the general studies not to talk of polytechnic or university.

“The entrepreneurial skill is an essential part of our education today. The question is how much of implementation is going on? Nobody is supposed to leave school and be jobless. All of us in our various capacities can do a lot more by working on internships for our students, by implementing the policies that have been designed, and by making sure that you don’t just give access to people for education but equip them rightly for national development.” Adefaye said.

The Bullion Lecture which is organized annually is a flagship programme of CFJ that provides a veritable platform for erudite scholars, economic experts, and consummate journalists to engage in profound discourse that touches on National development.

The Center is governed by a board of Trustees that consists of eminent Nigerians with the former deputy governor of the Central Bank of Nigeria (CBN), Ernest Obi as Chairman. The faculty is also populated by some of the egg-head in Journalism, Banking, Economics, Law, and Politics, all of whom bring their wealth of experience to bear on its offerings.