ABSTRACT

The study investigated human capital and economic recession in Nigeria spanning from 1981 10 201 8. The objectives of the study were to investigate the impact of inflation rate on human capital development in Nigeria, to evaluate the impact of unemployment rate on human capital development in Nigeria, to ascertain the impact of balance of payment on human capital development in Nigeria and to examine the impact of aggregate poverly on human capital development in Nigeria. Ordinary least square regression technique was employed in the research. Thus, revealed that; there exists a positive relationship between global economic recession and training and development of human capital in Nigeria Based on the findings the study recommended that; government and appropriate agencies to put in place policies such as enabling environment that will lead to the growth and development of human capital in Nigeria. Government needs to put forward policies !hat minimize cost at all levels, maximize efficiency of output, training and retraining of goods hands; and that there is need to encourage better motivation of workers at every sector of the economy among'it others. In addition. the entire regulatory system requires a complete overhaul and re-engineering, not only of the processes and practices but also of the mind-set of the human capital in the upstream sector of the petroleum industry The fraud and corruption in the industry is hardly quantifiable The recenl fuel subsidy drama may just be a tip of the iceberg. Above all, there is urgent need to diversify the economy of Nigeria from its monoproduct status. If all the sectors of the economy are as vibrant as the petroleum sector, there may be less attention on the oil proceeds and this may confer even distribution of growth without too much emphasis on the sector.