The study examined an empirical investigation of the impact of investment in human capital on economic growth in Nigeria, using time series data from 1980-2014. This paper employs descriptive analysis, trend analysis, causality tests, and the ordinary least square technique.
Empirical findings however indicate that there exists a negative relationship between government expenditure on education and economic growth, but there exists a positive relationship between health expenditure and economic growth.
The findings of this work have strong implications on education and health policy makers, and considering that they are of great debate in the country. Therefore, this study recommends that in order to accelerate growth and liberate Nigerians from the vicious cycle of poverty, the government should put in place policies geared towards massive investment in the education and health sectors.
TABLE OF CONTENTS
DATA PRESENTATION, ANALYSIS AND INTERPRETATION OF RESULTS
SUMMARY, CONCLUSION AND RECOMMENDATIONS
Economic policy in Nigeria: Review of the indicators of investment in human capital and economic growth