Impacts of Human Capital Development on Real Sectors Growth in Nigeria

Obasanmi Jude Omokugbo; Idogun Henry Imogiemhe

doi:doi:10.11648/j.jfa.20200801.14

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Impacts of Human Capital Development on Real Sectors Growth in Nigeria

Obasanmi Jude Omokugbo, Idogun Henry Imogiemhe

Received: 3 December 2019 Accepted: 10 January 2020 Published: 14 February 2020

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Abstract

Human capital is an important factor used in converting all resources to mankind’s use and benefit. In an attempt to examine the nexus between human capital development and real sector growth indicators (Agriculture and Petroleum and Natural Gas), this study investigated the relationship between human capital development and real sector growth in Nigeria. Annual time series data from 1990 to 2018 was employed. The Augmented Dickey Fuller (ADF), Johansen-Cointegration, and Error Correction Mechanism (ECM) were employed in the study. The result indicated long run relationship between human capital development and output growth in the two sectors investigated. The result revealed that current public expenditure on education and health translated in increase in output for Petroleum & Natural Gas in Nigeria but not in the Agricultural sector. Also, expenditure in research and development (R&D) had significant impact on output growth in the two sectors. It was recommended that the federal government should endeavor to increase their expenditure on education to boost quality education infrastructure needed in schools.

DOI	10.11648/j.jfa.20200801.14
Published in	Journal of Finance and Accounting (Volume 8, Issue 1, January 2020) This article belongs to the Special Issue Financial Inclusion , Accounting Perspectives and Development
Page(s)	24-33
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Human Capital, Real Sectors, Agriculture, Petroleum, Education and Natural Gas

References

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APA Style

Obasanmi Jude Omokugbo, Idogun Henry Imogiemhe. (2020). Impacts of Human Capital Development on Real Sectors Growth in Nigeria. Journal of Finance and Accounting, 8(1), 24-33. https://doi.org/10.11648/j.jfa.20200801.14

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ACS Style

Obasanmi Jude Omokugbo; Idogun Henry Imogiemhe. Impacts of Human Capital Development on Real Sectors Growth in Nigeria. J. Finance Account. 2020, 8(1), 24-33. doi: 10.11648/j.jfa.20200801.14

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AMA Style

Obasanmi Jude Omokugbo, Idogun Henry Imogiemhe. Impacts of Human Capital Development on Real Sectors Growth in Nigeria. J Finance Account. 2020;8(1):24-33. doi: 10.11648/j.jfa.20200801.14

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@article{10.11648/j.jfa.20200801.14,
  author = {Obasanmi Jude Omokugbo and Idogun Henry Imogiemhe},
  title = {Impacts of Human Capital Development on Real Sectors Growth in Nigeria},
  journal = {Journal of Finance and Accounting},
  volume = {8},
  number = {1},
  pages = {24-33},
  doi = {10.11648/j.jfa.20200801.14},
  url = {https://doi.org/10.11648/j.jfa.20200801.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20200801.14},
  abstract = {Human capital is an important factor used in converting all resources to mankind’s use and benefit. In an attempt to examine the nexus between human capital development and real sector growth indicators (Agriculture and Petroleum and Natural Gas), this study investigated the relationship between human capital development and real sector growth in Nigeria. Annual time series data from 1990 to 2018 was employed. The Augmented Dickey Fuller (ADF), Johansen-Cointegration, and Error Correction Mechanism (ECM) were employed in the study. The result indicated long run relationship between human capital development and output growth in the two sectors investigated. The result revealed that current public expenditure on education and health translated in increase in output for Petroleum & Natural Gas in Nigeria but not in the Agricultural sector. Also, expenditure in research and development (R&D) had significant impact on output growth in the two sectors. It was recommended that the federal government should endeavor to increase their expenditure on education to boost quality education infrastructure needed in schools.},
 year = {2020}
}

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TY  - JOUR
T1  - Impacts of Human Capital Development on Real Sectors Growth in Nigeria
AU  - Obasanmi Jude Omokugbo
AU  - Idogun Henry Imogiemhe
Y1  - 2020/02/14
PY  - 2020
N1  - https://doi.org/10.11648/j.jfa.20200801.14
DO  - 10.11648/j.jfa.20200801.14
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 24
EP  - 33
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20200801.14
AB  - Human capital is an important factor used in converting all resources to mankind’s use and benefit. In an attempt to examine the nexus between human capital development and real sector growth indicators (Agriculture and Petroleum and Natural Gas), this study investigated the relationship between human capital development and real sector growth in Nigeria. Annual time series data from 1990 to 2018 was employed. The Augmented Dickey Fuller (ADF), Johansen-Cointegration, and Error Correction Mechanism (ECM) were employed in the study. The result indicated long run relationship between human capital development and output growth in the two sectors investigated. The result revealed that current public expenditure on education and health translated in increase in output for Petroleum & Natural Gas in Nigeria but not in the Agricultural sector. Also, expenditure in research and development (R&D) had significant impact on output growth in the two sectors. It was recommended that the federal government should endeavor to increase their expenditure on education to boost quality education infrastructure needed in schools.
VL  - 8
IS  - 1
ER  -

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Author Information

Obasanmi Jude Omokugbo

Department of Economics, Ambrose Alli University, Ekpoma, Nigeria
Idogun Henry Imogiemhe

Department of Economics, Ambrose Alli University, Ekpoma, Nigeria

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APA Style

Obasanmi Jude Omokugbo, Idogun Henry Imogiemhe. (2020). Impacts of Human Capital Development on Real Sectors Growth in Nigeria. Journal of Finance and Accounting, 8(1), 24-33. https://doi.org/10.11648/j.jfa.20200801.14

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ACS Style

Obasanmi Jude Omokugbo; Idogun Henry Imogiemhe. Impacts of Human Capital Development on Real Sectors Growth in Nigeria. J. Finance Account. 2020, 8(1), 24-33. doi: 10.11648/j.jfa.20200801.14

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AMA Style

Obasanmi Jude Omokugbo, Idogun Henry Imogiemhe. Impacts of Human Capital Development on Real Sectors Growth in Nigeria. J Finance Account. 2020;8(1):24-33. doi: 10.11648/j.jfa.20200801.14

Copy | Download

@article{10.11648/j.jfa.20200801.14,
  author = {Obasanmi Jude Omokugbo and Idogun Henry Imogiemhe},
  title = {Impacts of Human Capital Development on Real Sectors Growth in Nigeria},
  journal = {Journal of Finance and Accounting},
  volume = {8},
  number = {1},
  pages = {24-33},
  doi = {10.11648/j.jfa.20200801.14},
  url = {https://doi.org/10.11648/j.jfa.20200801.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20200801.14},
  abstract = {Human capital is an important factor used in converting all resources to mankind’s use and benefit. In an attempt to examine the nexus between human capital development and real sector growth indicators (Agriculture and Petroleum and Natural Gas), this study investigated the relationship between human capital development and real sector growth in Nigeria. Annual time series data from 1990 to 2018 was employed. The Augmented Dickey Fuller (ADF), Johansen-Cointegration, and Error Correction Mechanism (ECM) were employed in the study. The result indicated long run relationship between human capital development and output growth in the two sectors investigated. The result revealed that current public expenditure on education and health translated in increase in output for Petroleum & Natural Gas in Nigeria but not in the Agricultural sector. Also, expenditure in research and development (R&D) had significant impact on output growth in the two sectors. It was recommended that the federal government should endeavor to increase their expenditure on education to boost quality education infrastructure needed in schools.},
 year = {2020}
}

Copy | Download

TY  - JOUR
T1  - Impacts of Human Capital Development on Real Sectors Growth in Nigeria
AU  - Obasanmi Jude Omokugbo
AU  - Idogun Henry Imogiemhe
Y1  - 2020/02/14
PY  - 2020
N1  - https://doi.org/10.11648/j.jfa.20200801.14
DO  - 10.11648/j.jfa.20200801.14
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 24
EP  - 33
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20200801.14
AB  - Human capital is an important factor used in converting all resources to mankind’s use and benefit. In an attempt to examine the nexus between human capital development and real sector growth indicators (Agriculture and Petroleum and Natural Gas), this study investigated the relationship between human capital development and real sector growth in Nigeria. Annual time series data from 1990 to 2018 was employed. The Augmented Dickey Fuller (ADF), Johansen-Cointegration, and Error Correction Mechanism (ECM) were employed in the study. The result indicated long run relationship between human capital development and output growth in the two sectors investigated. The result revealed that current public expenditure on education and health translated in increase in output for Petroleum & Natural Gas in Nigeria but not in the Agricultural sector. Also, expenditure in research and development (R&D) had significant impact on output growth in the two sectors. It was recommended that the federal government should endeavor to increase their expenditure on education to boost quality education infrastructure needed in schools.
VL  - 8
IS  - 1
ER  -

Copy | Download