HUMAN CAPITAL DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA
Badamasi Usman Babangida, Ph.D
Volume 2 Issue 2
Abstract
This study examines the relationship between human capital development and economic growth in Nigeria for the period 1981-2020. It uses time series data on government expenditure on education (GEE), government expenditure on health (GEH), life expectancy rate (LER), primary school enrollment (PSE), secondary school enrollment (SSE), and tertiary school enrollment (TSE) as proxies for human capital development, and gross domestic product (GDP) as proxy for economic growth.This study concludes that human capital development has a positive and significant relationship with economic growth over the study period 198-2020 and in the long run. The results reveal that increases in human capital increases economic growth in Nigeria. In view of the above, the study therefore recommends that efforts should be made by every entity of the economy to harmonize the activities in the educational and health sectors of the economy. This will have a long run effect on the economy. Nigerian government should also increase its allocation to education in its future annual budgets in order to set standards in the education sector. Key words: Human Capital, Development, Economic Growth, Expenditure, Nigeria
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