Economic and Financial Review


Central Bank of Nigeria


Economic Growth, Human Capital, Human Capital Development, Nigeria


The paper examines empirically the relationship between economic growth and human capital development using Nigeria data. Microeconomics variables such as Growth of real gross domestic products (RGDPG), capital expenditure (CE) on education. recurrent expenditure on education (RE), real gross capital formation (RGCF) was used to proxy physical formation, enrolment into primary (PRYE), post-primary (PPE) and tertiary (TERE) educational institutional were used to proxy human capital development. It found that investment in human capital, through the availability of infrastructure requirements in the education sector accelerates economics growth.

Author Bio

Messrs Otu and Adenuga are both Assistant Director and Principal Economist, respectively, in the Research and Statistics Department, Central Bank of Nigeria, Abuja.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Otu, Moses F. & Adenuga, Adeniyi O. (2006). Economic Growth and Human Capital Development: the Case Study of Nigeria. Economic and Financial Review. 44(3), 1-27.



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