The Role of Human Capital Development in a Diversified Economy
OBO, EKPENYONG BASSEY (Ph.D); IHEANACHO, MARYJOAN UGBOAKU (Ph.D); LEBO, MONICA PETER

Abstract
This paper examines the importance of the human capital development in diversifying Nigerian economy, especially, given the fact that it is oil base economy. It argues that to achieve a successful diversification more time and other resources are required into developing human capital which will exert great impact on the direction of the nation economy. For this, the need for adequate investment in education and training, health and safety, infrastructural facilities and a hostile free work environment are necessary for these human elements to strive in different sectors of the economy. This paper review the effect human capitals have on the economy of Nigeria. It also proposes a framework for new direction. Finally, the paper went further to explain that, in doing so, the accumulated wealth of knowledge, skills, and competencies acquired by the human element remains a great asset to creating several innovative ideas that will re-direct the Nigerian economy from mono-product (oil) to non-oil sectors for future economic development.

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