Higher Education: An Investment in Human and Social Capital in Nigeria

Abstract

Investment in higher education is a key contributor to the nation's economic growth, national development, as well as global competitiveness. It is against this backdrop that this paper critically examines higher education as investment in human and social capital in Nigeria. Higher education which involves institutions like universities, polytechnics, colleges of education, Monotechnics and other various bodies offering correspondence courses, contributes immensely to national development and inculcation of proper values for the survival of individual and society. The concepts of human and social capital are reviewed. The development and economic roles of higher education, types of social capital and social capital development roles of higher education are examined. However, the challenges affecting the investment in higher education are adumbrated. The paper concludes that high-level human capacity building economic success and the social progress of any nation like Nigeria is directly determined by the quality of higher education which is the only hope for national development. It therefore, suggests among others, that higher education in Nigeria should be adequately funded to strengthen the investment in human and social developments.