Human Capital Management and Development of the Nigeria’s Economy

Human capital management and development are the effective ways of management and developing people at work and it have now become imperative than ever for organization and society to engage in managing and developing workers so as to improve on corporate performance in order to build and develop a nation at large. The objective of the study was to examine human capital management and development of the Nigeria’s economy – a test of evidence, models and theories. The approach to the study was the review analysis by way of reviewing data derived from extant secondary sources. Data for this study by and large relies heavily on the review of available literature. The study reviewed relevant journals, publications, books, internet articles, archives, and unpublished theses. The models and theories of human capital were reviewed that described the performance of human capital as contributing to nation’s building and development. The paper discovered that, human capital management and development improved performance of organisations and societies which lead to higher productivity, develop individuals as workers, training and acquisitions of skills and experiences, etc. and contribute to national development. The paper concluded that, management of human capital and development as one of the biggest and strongest catalyst for the improvement of the standard of living of the people in the country is beneficial and remains an essential elements of economic growth and development in Nigeria, and therefore, more attention should be given to human capital which equally translate to growth and development of a nation. The study recommended that, Nigeria should invest more in human capital management and development process and endeavours to prioritize the education and healthcare sectors budgeting considering its growth driving potentials in Nigeria.