IMPACTS OF HUMAN CAPITAL DEVELOPMENT ON ECONOMIC GROWTH IN NIGERIA
Abstract
The study examines the impacts of human capital development on economic growth in Nigeria from 1990 to 2022. Descriptive research design was adopted for the study. Secondary source of data was used to gather information for the study. The data was sourced from the Central Bank of Nigeria(CBN), World Bank ( WB 2022), Statistical Bulletin: public finance Statistics. Two research hypotheses were formulated to guide the study and they were tested by carrying out correlation and regression analysis using Author's computations (2024). Results of the study showed that Nigerian government should ensure to allocate adequate resources for the development of human capital in order to enhance economic growth in Nigeria. The study recommends that going forward the government and policy makers should increase it's total expenditure on education, ensure sufficient budgetary allocation on health expenditure so that propel human capital required for any individual to became productive and economic is enhanced. Moreover,improve personnel development in the health care and ensuring adequate distribution of health facilities within the federation is essentially imperative. Panel studies should also be useful in examining the possibility of generalization to countries which share similar characteristics with Nigeria.
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