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ABSTRACT
This study examined the impact of human capital development on industrialization in Nigeria for the period of 1981-2019. The main objective of this research work is to examine the impact of human capital development on industrialization in Nigeria and the specific objectives of this research work are to examine assess the effect of secondary school enrollment on rates on industrialization in Nigeria. Also to assess the effect of tertiary school enrollment on rates on industrialization in Nigeria. Also to examine the causal relationship between human capital development and industralization in Nigeria and then to formulate effective policy recommendations that would help address the problem statement of this study.
The study used Error Correction Mechanism (ECM) to examine the relationship between human capital development and industrialization in Nigeria. The study found that the level of manufacturing output which was used to capture industrialization in the study is positively related to secondary school enrollment in Nigeria and the level of manufacturing output in the study is negatively related to tertiary school enrollment in Nigeria and the level of manufacturing output is positively related to gross capital formation in Nigeria and the level of manufacturing output is negatively related to labour participation rate in Nigeria and the level of manufacturing output is negatively related to wage rate in Nigeria. The study therefore recommends that need for government to invest more in human capital development process and endeavours prioritize the health and education sectors budgeting considering their growth driving potentials in Nigeria.
Similarly, government should endeavour to pay attention to the issue of school enrolment. There should be policies that focuses on technical education at all levels, for the development of human capital so as to to increase it's contribution to the growth of industrialization in Nigeria since human capital is the key factor of production in Nigerian industries seeing that Nigeria is a labour intensive economy.
