The greatness of nations appears to be based on the level of their human capital development as the world continues its march in the knowledge economy. It has become imperative for Nigeria to remain competitive in the comity of nations in the production, transfer and utilisation of knowledge. The realisation of the importance of human capital development, especially in the key areas of the economy, such as mining, telecommunications and agriculture has led to the establishment of the Universities of Technology in Nigeria. These universities promote technological advancement, through the teaching and training of manpower in various fields of Science and Technology. Science and Technology are recognized as the main catalysts for national development. This paper examined the role of the Federal University of Technology, Akure, (FUTA) in the development of human capital in Nigeria. The paper reviews the training programmes and the graduates produced at the University since its inception. It argues that FUTA, which was adjudged as the best University of Technology in 2004 and one of the best 100 Universities in Africa by 2010 Webometric ranking has qualified as a veritable institution in Human Capital Development. The study reveals that the graduates produced over the years have been in high demand in the various sectors of the economy; particularly oil and gas, construction, mining and agriculture. It posits that with necessary infrastructure, the institution will continue to produce competitive manpower that is needed to transform Nigeria to one of the best 20 world economies by the year 2020.