Diversification of the Nigerian Economy through Human Resource Development and Utilization

Abstract

The purpose of this paper is to highlight the significance of diversification of Nigeria’s economy through human resource development and utilization. It is on record that most developed countries in the world diversified their economy through the development of their citizens and thereafter utilized them in all the sectors of the economy. The narrative research design was adopted as it involves the use of secondary sources of data from Newspapers, Journals, and other online sources. This paper concludes that diversification of the Nigerian economy measured in terms of human resource development and utilization in the areas of manufacturing diversification, financial diversification, foreign direct investment, fiscal diversification, regional diversification, and job diversification has the capacity of revitalizing and sustaining Nigeria's economy. Therefore, human resource development policies in Nigeria should focus on education, technology, biotechnology, agriculture, aircraft, vehicle manufacturing, manufacturing of military gadgets such as weaponry and drones. The Nigerian government should also implement equal regionalization of industrial zones for equitable distribution of resources across all regions to avoid marginalization.