Resource efficiency in agricultural development: human capital development perspective and poverty challenges in developing countries

Abstract

Nigeria’s current economic recession, high poverty rate (71-74.2%) and unemployment informed the need to examine the extent that agricultural sector could assist in accelerating economic growth and development. Agriculture accounts for over 78.3% of labour in Nigeria and contributed about 23.9% of the Gross National Domestic product in 2016. This informed the need to examine resource efficiency based on human capital perspective in agricultural sector using Landmark University as a case study. A descriptive study reliant on both primary and secondary data was carried out using employees of Landmark University farm. There was a highly significant relationship between agricultural workers’ training needs and productivity. Human capital development and economic growth were positively correlated. The study concludes that an efficient system can be obtained through the development of the human capital, thus emphasizing the linear relationship between human capital development, agricultural-enterprise and economic growth. This should translate to rapid economic growth as investment in workers’ agricultural skills is strategized. Adequate training programmes are needed to enhance synergistic underpinnings that cut across the human capital. Equally, the new focus on agriculture involves training on new technologies and evolving modern methods of generating farm output. It is only an enlightened mind that can produce the expected effectiveness in productivity that will enhance economic growth.

Keywords: Efficiency, Economic Growth, Synergy, Strategy, Human Capital Development