ABSTRACT

Abstract

The impact of human capital development on economic growth cannot be over-emphasized. Evidence has shown that human capital is one of the major factors that drive economic growth. This paper examines the relationship between human capital development and economic growth in Nigeria between 1980 and 2017. The study adopts Autoregressive Distributed Lag (ARDL). The variables economic growth and secondary school enrolment are statistically significant in the short run. Also, in the long run analysis, secondary school enrolment and life expectancy are significant determinants of economic growth. Therefore, the study recommends that government should comply with the 26% bench mark of UNESCO recommendation on education and proposal by WHO of 5% national income allocation to health. For Nigeria to benefit from investment in human capital, the government should embark on infrastructural development in education and health sectors and provide enabling environment through macroeconomic stability.