By Milcah Tanimu
Fredrick Nwabufo explores the importance of prioritizing human capital in Nigeria’s budget, emphasizing that building a skilled and educated population is crucial for long-term prosperity. Despite recognizing the necessity of infrastructure investment, Nwabufo argues that human capital development should not be overshadowed. He refers to Nigeria’s low ranking on the global Human Capital Index and advocates for a shift toward a knowledge-driven economy. President Bola Tinubu’s proposed 2024 Budget of Renewed Hope aligns with this perspective, focusing on defense, job creation, economic stability, investment environment, human capital development, poverty reduction, and social security. Nwabufo commends this approach, emphasizing the untapped potential within Nigeria’s citizens as the nation’s true wealth.
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