INDUSTRIAL SECTOR PERFORMANCE AND HUMAN CAPITAL INVESTMENT: NIGERIAN EXPERIENCE
Abstract
This study investigates the extent which human capital investment has influenced industrial sector performances in Nigeria over the periods of 1981 to 2022. An Autoregressive Distributed Lagged model was employed to examine the influences of education investment, health investment, domestic credit to private sector and the cost of capital on industrial sector performance. The study found that government expenditure on education maintained positive and significant impacts on the measure of industrial sector performances while government expenditure on health exhibited negative and insignificant influence on industrial sector performances. It was recommended that government should increase not just the amount of expenditure on education and health sector but the percentage of its total expenditure accorded to these sectors needs urgent improvement, especially now that the over dependent on oil revenue is rapidly failing the country.
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