Centre urges more investment in human capital development
The Centre for Public Policy Alternatives (CPPA) has said it would require more investment in human capital, especially in the education and health sectors to bridge inequality gap in Nigeria.
According to a CPPA report on ‘Public Policy Implications of Wealth and Income Inequality in Nigeria’, for long-term growth to happen, investment in human capital must be prioritised, because for a nation with huge population like Nigeria, its working population needs to be productive, healthy and adequately trained.
Prof. Melvin Ayogu of CPPA, presenting the report at a seminar themed: ‘Dialogue Series on the 21st Century Challenges of African Economies’ at Ford Foundation, Lagos, said findings of recent study by the centre showed that Nigeria and many other African countries were not investing enough in human capital, specifically education and health.
He stressed that these two areas were key to creating wealth, as they are tools for closing the inequality gap and setting the country on the path of sustainable growth.He also said these inequalities manifest in abysmal welfare conditions for citizens, evidenced in poor healthcare and education outcomes, which deprive the population of critical mass of citizens that can hold government accountable.
The study, conducted in 40 African countries, according to him, gave evidence of collective deprivation of citizens by African governments.