HUMAN CAPITAL DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA (1985-2018)

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ABSTRACT

The problem of development has occupied the attention of scholars, activists, development workers and international organizations for many years with an increased tempo within the last decade. Although there are different perspectives to development, there is a general consensus that development will lead to a good change manifested in increased capacity of people to have control over material assets, intellectual resources and ideology, and obtain physical necessities of life like food, clothing, shelter, employment, etc. This is why some people have argued that the purpose of development is to improve peoples lives by expanding their choices, freedom and dignity. Nigeria, which was one of the richest 50 countries in the early 1970s has retrogressed to become one of the 25 poorest counties at threshold of the twenty-first century. The aim of this study is to examine the effect of human capital development on economic growth in a Nigeria. The belief in human capital as a necessity for growth started in Nigeria during the implementation of the 1955-60 development plan and today, with the importance of knowledge in the economy, human capital has increasingly attracted both academic and public interest.

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