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| National Development Plan, Human Capital Investment and Economic Growth in Nigeria: A Survey of Literature |
Akinbowale, Oluwatoyin Esther
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Abstract:
Development planning in Nigeria has suffered from lack of coordination and harmonization of programmes/policies both within the tenure of an administration and those succeeding it. However, this study seeks to examine the causes of failure in achievement of most of the National development plans in Nigeria taking a theoretical approach and findings revealed that there is no co-ordinated efforts and participative decision making in the course of achieving these plans which has led to their failure. Conclusively, the era of the Sustainable Development Goals (SDGs) has come with indicators for all the seventeen (17) set goals to give a direction to Nigeria in the pursuit of her development goals. Based on the observed gaps which are; inconsistency of co-ordinated effort and directions; inadequate review of previous plan to ascertain area of deviation of actual form planned and absence of participative decision, the researcher therefore recommends that there is a need to continuously review set plans in order to ascertain if the plans are properly achieved before going further to set or achieve another and when setting new goal, the weakness of the previous goal must be considered for proper control measure. Also, investment in human capital must be priotized and included in the National development plans for rapid economic growth. There is also the need to encourage participative decision in the setting of National development plans to aid the selection of a strategy suitable for attaining specific economic goals.
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