HUMAN CAPITAL DEVELOPMENT IN THE PERIOD OF ECONOMIC RECESSION IN NIGERIA: IMPLICATIONS FOR COUNSELLING PRACTICE

Abstract

What measures are needed to cushion the impact on the nation’s education and the people? It is important to stress that human capital development might go a long way in reviving the nation’s education sector. The development of human capital has been recognized by educationist to be a key prerequisite for a country’s socio-economic and political transformation. Nigeria is relatively characterized by economic backwardness which manifests itself in low investment in human capital, low labour efficiency, factor immobility, limited specialization in occupation and in trade, a deficient supply of entrepreneurship, traditional and social institutions that minimize the incentives for economic change. Education policy issues continue to be a question of critical concern in developing countries like Nigeria, particularly issues bordering on adequate funding. The relationship between education and human capital development in economic recession  has been established, such that education is now globally accepted as a key development index and it is in appreciation of this significance that the Nigerian government like other national governments has developed extensive educational policies aimed at granting her citizens access to education. Human capital development is a means of bridging the gap between science or innovation and the market place through creating new enterprises and bringing new products and services to the market thereby increasing national income. These human capital development activities significantly affect the economy of an area by building the economic base through provision of jobs. In conclusion, the counselling implication is that the professional counsellors’ core duty is to build and inculcate current human capital development to empower the youths, for capacity building of small and medium scale enterprises and what have you. The professional counsellors in their best expertise, through human capital development, utilizes these skills: education, vocational education, workshop, transformative paradigm, learning to know/learning to do, expert teacher/gadget, and decision making, to empower the youths for sustainable development in Nigeria tertiary institution. As a result, students on graduation will not roam about looking for white collar job but will be self employed and employers of others.  Against this backdrop, this article sought to address Human Capital Development in the Period of Economic Recession in Nigeria.