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ABSTRACT
This study examines the sectorial growth analysis of the impact of human capital development in Nigeria. The study employs the autoregressive distributed lag cointegration framework, using annual data over the period 1986 to 2020. The objectives of the study was to determine the impact of human capital development on different sectors in Nigeria. Sectors in Nigeria’s economy were disaggregated into Agricultural, Industrial, and Service Sector. In the long-run government investment in education and secondary school enrolment rate was seen to have a positive and significant impact on Agricultural sector growth while investment in health was seen to have a negative impact on Agricultural sector growth. Investment in education in the short-run was seen to have a negative impact on industrial sector while in the long-run both investment in education and secondary school enrolment was seen to have a positive impact on industrial sector growth, also government investment in health was seen have a negative and insignificant impact on industrial sector. Lastly in the services sector investment in education was seen to have a negative impact in the short-run while in the long-run Its impact was seen to be positive, for government investment in health its impact was seen to be negative both in the short-run and long-run. The study recommends that both government investment in education and health should be increased so as to have a positive impact on, Agricultural, Industrial and Service sector both in the short-run and long-run. The diagnosing test results shows that the estimate obtained is valid, and thus, our findings are robust and reliable.
