Abstract

To create a knowledge-based economy, in the light of technological advancements and globalisation, there is the inevitable need to increase investment in human capital development. Human capital development is considered to be one of the fundamental solutions to the challenges facing the developing countries of the world. This study therefore evaluates the impact of human capital development on economic growth in Nigeria over the period 1990-2018. It applied the Augmented Dickey Fuller unit root test and Autoregressive Distributed Lag (ARDL) cointegration techniques. The cointegration test result revealed that there exists a long run relationship between human capital variables and economic growth in Nigeria. Furthermore, the ARDL result reveal that human capital Thus, the study recommends that government should increase its budgetary allocations to the education and health sectors while ensuring that the funds released to these sectors are utilised for the purpose for which they have been released.