Federal Government Reaffirms Commitment to Human Capital Development as Nigeria Aims for $1 Trillion Economy

Federal Government Reaffirms Commitment to Human Capital Development as Nigeria Aims for $1 Trillion Economy

The Federal Government has reaffirmed its dedication to large-scale human capital development as the key driver of Nigeria’s industrial and economic transformation. The government emphasized that the country’s true wealth is found “not beneath the ground but in the minds and hands of its people.”

During the Industrial Training Fund and Nigeria Employers’ Consultative Association Stakeholders’ Dialogue Forum and 2023/2024 Outstanding Trainees’ Awards Ceremony in Abuja, the Minister of State for Finance, Doris Uzoka-Anite, highlighted that Nigeria’s long-term prosperity hinges on empowering its youthful population with practical, industry-relevant skills.

Uzoka-Anite stressed the importance of equipping the workforce to leverage emerging industrial opportunities across various sectors. She noted that as Nigeria enters the second phase of economic reforms—marked by the removal of fuel subsidies and foreign exchange market adjustments—the nation anticipates an industrial boom aimed at reaching the President’s goal of a $1 trillion economy.

She underscored that industrial skills will be crucial during this phase, making the training programs offered by the Industrial Training Fund (ITF) vital to the country’s economic growth. “The true measure of a nation’s wealth lies not beneath the ground but in the minds, hands, and hearts of its people,” she stated. “It is the skill, creativity, and resilience of citizens that transform natural resources into real prosperity. A nation’s ability to train, equip, and empower its people determines its productivity, innovation, and global competitiveness.”

Uzoka-Anite praised the collaboration between ITF and NECA for sustaining the Technical Skills Development Project, describing it as “a shining example of how government and the private sector can work together to address unemployment and the skills mismatch between education and industry.”

She highlighted the progress of the Skill Up Artisans Programme (SUPA), launched in 2024 to modernize and formalize Nigeria’s artisans. Over 100,000 youths have enrolled in the initiative, receiving training in sectors such as construction, ICT, renewable energy, automotive services, and manufacturing. The program aims to transform artisans into globally competitive professionals, bridging informal skills with formal certification and fostering entrepreneurship.

The Minister also commended the efforts of ITF Director-General Toyin Afiz and NECA’s Director-General Adewale-Smatt Oyerinde in maintaining the public-private partnership, emphasizing that technical skills development must remain central to Nigeria’s economic reforms. She announced that the Ministry of Finance is prioritizing investments in human capital through structured partnerships, incentives for apprenticeship, funding mechanisms for vocational education, and entrepreneurship financing.

Uzoka-Anite affirmed that government cannot tackle unemployment alone. Every factory training an apprentice, every firm mentoring youth, and every entrepreneur investing in skills contribute to building a more prosperous Nigeria. She also acknowledged private-sector and multinational support for youth training and mentorship programs, which complement government efforts.

Nigeria’s unemployment rate was reported at 5.2 percent in the first quarter of 2025, with youth unemployment nearly accounting for two-thirds of that figure. Industry experts have long linked these challenges to the gap in technical and vocational education aligned with market needs.

The ITF–NECA Technical Skills Development Project, launched in 2018, aims to bridge this gap by providing young Nigerians with hands-on skills demanded by industries, creating pathways to employment and entrepreneurship. Beneficiaries undergo structured training, mentorship, and certification in fields such as mechatronics, welding, ICT, and industrial maintenance, with many securing immediate employment or starting their own businesses after graduation.

Uzoka-Anite urged the ITF and NECA to extend their training to underserved communities, emphasizing that skill-based empowerment remains the most effective solution to poverty and unemployment. She reiterated that technical and vocational skills are not alternatives to formal education but pathways to dignity, productivity, and national competitiveness.

The Industrial Training Fund, established in 1971, is Nigeria’s leading agency for manpower development, promoting skill acquisition in industry and commerce. The Nigeria Employers’ Consultative Association (NECA) serves as the umbrella body for private sector employers.

Their joint TSDP initiative has trained 60,000 Nigerians in high-demand sectors since its inception, with many graduates absorbed into partner industries. ITF Director-General Afiz Ogun highlighted that over 16 years, the partnership has demonstrated the power of collaboration between government and the private sector in nurturing problem-solvers and nation-builders.

“Skills are the new currency of national development,” Afiz Ogun stated, emphasizing that a skilled youth population attracts investment and fuels economic growth. He called for continued support for the TSDP program, which trains beneficiaries in thirty-five trades and has led to upgrades in several federal educational institutions.

Adewale-Smatt Oyerinde, NECA’s Director-General, noted that the partnership’s success has led to the training of thousands across Nigeria and the ongoing Stakeholders’ Dialogue Forum held simultaneously in nine locations nationwide.

The collaboration between ITF, NECA, and the government’s SUPRA scheme is increasingly recognized as a sustainable model for job creation and productivity-driven growth.