ABSTRACT

Human capital is an important factor used in converting all resources to mankind’s use and benefit. This study is undertaken to examine the impact of human capital development on economic growth in Nigeria using time series data spanning from 1980 to 2015, which were sourced from the CBN Statistical Bulletin and National Bureau of Statistics. The basic objective of this study investigated the correlation between human capital development and economic growth in Nigeria. The Ordinary Least Square (OLS) statistical technique was employed in analysing the data. The findings in the study review that there a significant relationship between human capital and economic growth. Based on the findings, it was recommended that the government should formulate policies that would increase government expenditure on education with special interest in the efficiency and outcome of such increase in expenditure and also to ensure that the resources are channeled towards the right direction for the desired level of productivity to be achieved. Also effort should be made by the government of Nigeria to consistently drive the economy towards the development of human capital for the desired level of growth in the economy to be achieved.