INVESTMENT IN HUMAN CAPITAL A CATALYST FOR ECONOMIC GROWTH AND SUSTAINABLE DEVELOPMENT IN NIGERIA: ISLAMIC PERSPECTIVES

Abstract

This study investigates the role of human capital investment in promoting economic growth and sustainable development in Nigeria through both conventional economic theories and Islamic perspectives. While physical capital and natural resources contribute to development, enduring progress ultimately depends on the quality of human capital. The research employed a qualitative methodology, combining textual analysis of Islamic sources with a review of empirical literature, to construct a faith-based yet globally relevant framework for human capital-centered development. Drawing upon Qur’anic injunctions, Prophetic traditions, and the works of classical Islamic scholars such as Ibn Khaldun and al-Ghazali, the study demonstrates that Islam emphasizes knowledge, health, skills, and ethical values as the foundations of prosperity. The findings revealed three major outcomes. First, both conventional and Islamic frameworks converge on the centrality of education, health, and skills acquisition as the core drivers of national development. Second, empirical evidence shows that Nigeria’s persistent neglect of education and health has resulted in low labor productivity, high unemployment, and weak competitiveness despite its abundant natural resources. Third, integrating Islamic ethical principles such as justice, accountability, and honesty into national development planning enhances not only productivity but also moral integrity and social cohesion. The study concludes that sustainable growth in Nigeria requires a strategic shift from resource dependence to knowledge-driven and ethically guided human capital development rooted in Islamic values.