HUMAN CAPITAL DEVELOPMENT AND ECONOMIC GROWTH AS TOOLS FOR NATIONAL TRANSFORMATION IN NIGERIA

Abstract

This study examined human capital development and Economic growth as tools for national transformation in Nigeria. It assessed the relationship human capital development has with economic growth and analyzed how the relationship can result in national transformation in Nigeria from 1980 to 2013.Ordinary Least Squares (OLS) wasused to analyze the data. The results of the study revealed that Human Capital development (HCD) has a negative impact on economic growth (RGDP) in the short run. Further study revealed that on the long run human capital development has a positive impact on economic growth.The study concluded that high level of human capital development holds the key to the nation’s socioeconomic development as proved by this research study. We recommend that government should boost investment in the education and health sectors so as to enhance economic growth leading to the national transformation of the country.