IIARD International Institute of Academic Research and Development

Journal of Business and African Economy (JBAE )

E-ISSN 2545-5281
P-ISSN 2695-2238
VOL. 9 NO. 3 2023
DOI: https://doi.org/10.56201/jbae.v9.no3.2023.pg134.169

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Analyzing Sectorial Growth and the Influence of Human Capital Development on Achieving Sustainable Development Goals in Nigeria

Shina Joshua Adesanya, Edward Perekebina Agbai

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Abstract

This research investigates the correlation between sectorial growth and the efficacy of human capital development initiatives in Nigeria within the context of Sustainable Development Goals (SDGs). The study employs the autoregressive distributed lag cointegration framework, using annual data over the period 1986 to 2020. The study's goal was to ascertain how Nigeria's many sectors were affected by the growth of human capital. Nigeria's economy was divided into three sectors: the agricultural, industrial, and service sectors. Government spending on education and the secondary school enrollment rate was found to have a substantial and favorable long-term influence on the expansion of the agricultural sector. In the short term, investments in education were seen to have a negative impact on the industrial sector, but over time, both education and secondary school enrollment were shown to positively impact the growth of the industrial sector. Last but not least, investments in education were perceived to have a negative short-term impact but a positive long-term effect in the services sector. The report suggests raising government spending on health and education to benefit the agricultural, industrial, and service sectors over the long and short terms. As the results of the diagnostic test demonstrate that the estimate produced is genuine, our conclusions are solid and trustworthy.

keywords:

Sustainable Development Goals (SDGs), Sectorial Growth, Human Capital Development, Nigeria, Economic Growth, Education

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