IMPACT OF EDUCATION ON THE GROWTH OF NIGERIA ECONOMY
Abstract
This study examined Impact of Education on the Growth of Nigeria Economy using annual time
series data from CBN Statistical Bulletin and World Development Indicators, 2022. The study
employed Ordinary Least Square Technique. The findings, that there is a significant relationship
between Gross Education Enrollment and Gross Domestic Product. The findings further show
that the relationship between Human Development Index and real gross domestic product is
positive but statistically insignificant. The findings also show that the relationship between Gross
Capital Formation and real gross domestic product is positive and statistically insignificant
within the study period which conforms to apriori expectation. Finally, the findings show that the
relationship between Government Expenditure on Education and gross domestic product is
positive and statistically insignificant. The study recommends that government should always
ensure effective measures of education output so as to increase a significant level of economic
growth.
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