The Trilogy of Entrepreneurship Education, Human Capital Development and Economic Growth in Nigeria (1970 – 2020)
Authors: Oladitan Sam Tunde & Bello Abdulrahman Oyebode
1. Department of economics. Fct College of education. Zuba, Abuja
2. Department of business administration. Bell University of technology. Ota. Ogun state. Nigeria
This paper examined the effect of entrepreneurship education and human capital development on the growth of Nigeria economy. Using co integration techniques to investigate the effect of human capital development and economic growth in Nigeria, following result were obtained that there is significant long-run relationship between human capital development and economic growth in Nigeria. The above was confirmed by the Johansen co-integration from the VECM estimated. It was thus established that a 1% increase in the government expenditure on education (TEDU), leads to an increase of 23.8% in GDP while a 1% increase in the government expenditure on health (THEA) caused 37.6% decrease in GDP. It was confirmed that the two variables (entrepreneurship education and human capital development factors were found to have significant effect on economic growth. However, government expenditure on education has positive relationship with GDP. This implies any increase in expenditure on education contributes positively to the growth of the economy. It therefore recommended that, effort should be made by government to harmonise the activities in the education and health sectors in order to bring a long run effect on the economy and that, government should try as well to meet up with world standard benchmark on education expenditure in the annual budget among other recommendations.