Business
FG To Invest In Human Capital Development
Mr. Remi Babalola, Minister of state for Finance, said the Federal Government would enhance its investment in human capacity and leadership development as they would help boost the economy.
This was contained in a statement signed by Oluyinka Akintunde, Special Assistant (Communications) to the Minister and made available to the newsmen on Thursday in Abuja.
It said the administration had identified human capital and leadership development as critical both to Nigeria and the continent.
“Strong economies are known to have focused on low cost manufacturing in the early stages of growth, built up savings which were then invested in core infrastructure, trained their workforce and gradually moved up the value chain.
“Our future progress in this country will depend on us making full use of our talent.
“The administration will continue to invest heavily in human capital and leadership development,” it said.
According to the statement, there is a need for partnership to build a strong talent base that will create prosperity for the economy and better the lives of our people.
Babalola noted that investments in human capital and organisational development initiatives would have positive impact on the state of the economy, particularly the quality of leadership, productivity and the wellbeing of the citizens.
Babalola, who was represented by his Special Assistant, Dr. Felix Ogbere, said: “The dynamic links between human development initiatives and economic growth of a nation are quite profound.
“There is a strong connection between human capital and organisational development initiatives and economic growth of a nation.
“Higher levels of human capital development affect the economy by enhancing people’s capacities and consequently their creativity and productivity,’’ it added.
It said there were ample evidence that suggest that as people become healthier, better nourished and educated, they contribute more to economic growth through higher labour productivity, improved technology and attracting more foreign capital.
It however, noted that human capital development alone could not transform an economy.
The statement added that qualitative and quantitative of domestic and foreign investments along with the overall policy environment were also important determinants of economic performance.
“The level of human capital development has a bearing on these factors too.
“Human development initiatives essentially allow for change mechanisms which would determine how an organisation would evolve,” it said.
It therefore, advised organisations to precipitate these changes and plan for them.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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