education human capital and economic growth in Nigeria
Gyeongsang University Turnitin Trash Files HUMAN CAPITAL NEXUS AND GROWTH OF NIGERIA ECONOMY CHAPTER ONE INTRODUCTION Background to the Study Government expenditure equally known as public spending simply refers to yearly expenditure by the public sector (government) in order to achieve some macroeconomic aims notably high literacy rate, skilled manpower, high standard of living, poverty alleviation, national productivity growth, and macro-economic stability. It is also expenditure by public authorities at various tiers of government to collectively cater for the social needs of the people. Generally, it has been revealed that public expenditure plays a key role in realizing economic growth. This is because providing good education to individuals is one of the principal avenues of improving human resource quality in any economy. From this perspective, advancing school enrolment may subsequently lead to economic growth. Therefore, education remains the effective way to subdue poverty, illiteracy, underfeeding and accelerate economic growth in the long-term. Much attention has been channeled towards clarifying the relationship between education and economic growth, and so, has led to series of studies by economists over the past 30 years. There is substantial literature to back the fact that correlation exists between the two. (Sylvie, 2018). In line with the views of Hadir and Lahrech (2015), the fact that humans are the most worthy assets remains undisputable in both developed and developing countries. Therefore efficiency in human resource management is pertinent if development must be realized. In this sense, the major gateway to development is adequate investment in human capital which may be described as an individual's potential economic value in terms of skills, knowledge, and other intangible assets. In order to realize the well-known macroeconomic objective of economic growth, Nigeria being a developing country embarked on some programs in the educational sector with the aim of boosting human capital ...