Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 9 2024
DOI: 10.56201/jafm.v10.no9.2024.pg199.209


Impact of Public Debt on Human Capital Index in Nigeria

MBACHU, Eseosa & ONUORA, Joshua Kenechukwu


Abstract


This study ascertained the effect of public debt on human capital index in Nigeria. The study extracted the data from the Central Bank of Nigeria (CBN) Statistical Bulletin and World Bank data spanning the period from 1999 to 2022. Descriptive analysis was used to analyze the data multiple regression was employed to test the hypotheses. The study found that both external debt and domestic debt were statistically significant on human capital index. Given the predictive relationship between the human capital index and public debt, it is evident that as the country's economy expands, external and domestic debts also tend to increase. However, this scenario should be avoided. Based on this, it was advice that government is advised to focus on enhancing local productivity and utilizing local financial resources more effectively.


keywords:

Public Debt, External Debt, Domestic Debt and Human Capital Index


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