RESEARCH, HUMAN CAPITAL AND SOCIO-ECONOMIC DEVELOPMENT IN NIGERIA: A DEVELOPMENTAL APPROACH

Abstract

The paper x-rayed the challenges of research and human capital development in the socio-economic development of Nigeria. Research and human capital development are critical to the development of any nation. Research facilitates human capital development. Human capital planning is getting wider attention with increasing globalization and also the saturation of the job market due to the recent downturn in the various economies of the world. Developed and developing countries emphasize more on human capital development because it accelerates the economic growth by devoting necessary time and efforts. Thus human capital development is one of the fundamental solutions to enter the international arena. A high rating in human capital development indices places a country among the leading countries
of the world. The paper identified inadequate funding, lack of equipment, facilities and materials, lack of awareness, lack of implementation of research results, low rating in human capital indices, brain-drain, underemployment, etc, as challenges of research and human capital development in Nigeria. The paper concludes with some recommendations that will help meet these challenges.