The Chartered Institute of Personnel Management of Nigeria has warned that the country's economic future depends on deliberate and sustained investment in human capital development rather than reliance on natural resources. At its second-half 2026 Advocacy Roundtable, the Institute argued that Nigeria's challenge is not a shortage of oil, gas, minerals or a youthful population, but the failure to adequately develop and harness its people's skills. Mallam Ahmed Ladan Gobir, the Institute's President, said Nigeria cannot build a world-class economy with an underdeveloped workforce and cannot aspire to global competitiveness while treating human capital development as an afterthought. He compared Nigeria unfavourably with Singapore, noting that countries with fewer natural advantages have recorded stronger economic outcomes by prioritising investments in people, skills, institutions and enterprise.
Speaking on behalf of the Minister of Industry, Trade and Investment, the Permanent Secretary of the Federal Ministry of Industry, Trade and Investment said the government is working to align skills development with manufacturers' needs and is promoting investments in small and medium-sized enterprises through the Industrial Training Fund and the Bank of Industry. The official emphasised the importance of developing workforce capabilities in agricultural processing, digital skills and technical competencies to support manufacturing growth and reduce dependence on imported goods.
Business leaders at the roundtable stressed the need for closer collaboration between industry and educational institutions. Patrick Ajah, the Chief Executive of May & Baker Nigeria Plc, called for educational curricula to be aligned with industry needs and urged large organisations to partner with educational institutions to provide students with practical workplace experiences and industry-relevant skills. Ayuba Gadzama, representing BUA Foods Plc, advocated greater investment in technology, entrepreneurship and workforce reskilling to keep Nigerian businesses competitive in a rapidly changing economy.
Folake Oyemade, Founder and Chief Executive of Sam & Sara Ventures Limited, argued that Nigerians will support locally made products once quality and competitive pricing are assured. Participants agreed that stronger collaboration among employers, educational institutions and government is essential to build consumer confidence in locally manufactured goods and to drive industrial growth. The roundtable concluded that Nigeria's ambition to build a globally competitive Made-in-Nigeria economy depends less on natural resources and more on the knowledge, skills, productivity and innovation of its workforce.
For savers, borrowers and business owners, this means that Nigeria's economic competitiveness and job creation prospects will depend on whether government and industry make sustained investments in developing workers' skills in critical areas like agriculture, manufacturing and digital technology.