n Journal of Emerging Trends in Economics and Management Sciences - Education and economic growth : the Nigerian experience

Volume 2, Issue 3
  • ISSN : 2141-7024
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The paper considers the relation that is established between education and economic growth in Nigeria. Education is seen here as representing one of the primary components of human capital formation, which is an important factor in modeling the endogenous growth. Human capital is essentially important in achieving a sustainable economic growth; however, the greatest contribution is accomplished through investment in the quality and quantity of education. Time series data were collected between 1980 and 2008, and ordinary least squares technique was used to estimate the model. It was discovered that education investments have direct and significant impact on economic growth in Nigeria. It was therefore recommended that government at all levels should increase their funding on different segments of education in the country.

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