The Impact Of Human Capital Growth On The Nigerian Economy:- Chukwu Gift C

ABSTRACT

The study, investigated the impact ofhuman capital development on economic growth in Nigeria covering the period of 1981 to 2018. The objectives ofthe study were to evaluate the impact of human capital development on economic growth in Nigeria and to ascertain the long run relationship between human capital development and economic growth in Nigeria. The study employed a time series regression approach in which Ordinary Least Square (OLS) technique and Johansen Co-Integration test were used. The study revealed that: Life expectancy and tertiary school enrolment rate have positive and significant impact on economic growth in Nigeria, government expenditure on education and health have positive and significant impact on economic growth in Nigeria, primary and secondary school enrolment have positive but insignificant impact on economic growth in Nigeria. Lastly, a long run relationship wasfound between human capital development and economic growth in Nigeria. Based on the findings, the study recommended that: Government should increase its expenditure on education so that adequate educationalfacilitiesforthorough andproper quality education delivery would be made available. The governmentshould ensure sufficient budgetary allocation on health expenditure in order to make proper health carefacilities available to Nigeria citizens. Government should make health care and education more accessible through improving its affordability to the common individual in society by so doing increasing human capital development, in turn lead to economic growth and development in the country. Nigerian government should ensure a standard is set across allprimary, secondary and tertiary institutions in the country so that proper human capital requiredfor any individual to become productive is enhanced. Lastly, due to the presence oflong run relationship, there is need to encourage more human capital development in Nigeria. For this will be visible in the country.