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The Importance of Education To The Development of Nigerian Economy

The Importance of Education To The Development of Nigerian Economy
The Importance of Education To The Development of Nigerian Economy Photo Credit: Shutterstock

Education plays a very important role in the growth and development of the economy of every country and the Nigerian Economy is not an exception.

No country can attain lasting and significant economic growth without investing in the education of its people. For a country like Nigeria with a large human capital, the provision of quality education goes a long way in enhancing productivity and creativity which manifests in entrepreneurial as well as technological advancement.

Although the country is behind in technological advancements, we can not dispute the fact that Nigerians are very entrepreneurial people.

READ ALSO: 7 Valid Reasons Why Entrepreneurs Need Business Insurance

Even the government can not claim to be responsible for this entrepreneurial streak, imagine how far the country can go with a government that understands the importance of quality education.

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Also, studies have shown that countries that focus on investing in human capital as opposed to physical capital experience an upswing in the national income as well as per capita income. In other words, a country interested in experiencing lasting economic growth must intentionally ensure that a reasonable portion of its population is given access to quality education. Investing in human capital is fundamental and its importance can not be overemphasized

The Importance of Education To The Development of the Nigerian Economy

The Importance of Education To The Development of Nigerian Economy

The Importance of Education To The Development of Nigerian Economy

Also, education is important because of its ability to alter the way people understand themselves and the world at large.

It provides a new lens through which people view themselves. Proper knowledge brings clarity and clarity makes recognizing opportunities a lot easier. This goes a long way in improving the quality of life which in turn benefits the people and society.

READ ALSO:  Impact Of Technology On Education In Nigeria

In addition, any level of specialized education possessed by the people goes a long way in improving their quality of life and the economy by extension. It is true that the government indeed does a sorry job at providing employment opportunities for the masses but it is also true that we live in a digital world where anybody can make money on the internet with any level of digital knowledge.

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Technological productions and industrial activities are executed by those with the knowledge of how it works. This is why the acquisition of professional knowledge on Information and Communication Technology (ICT), Engineering or any related course is important as it directly or indirectly affects the economy

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