Underinvestment in Education Hinders Economic Growth in Nigeria, Study Finds.
Human capital, which includes education and health, is crucial for a country's economic growth. In Nigeria, there has been insufficient investment in these areas. A study using data from 1980-2010 found that investing in human capital, technology, and population growth positively impacts the Nigerian economy. Trained and employed people help the economy grow, but high mortality and unemployment rates are challenges. Contrary to previous beliefs, high population growth can actually increase productivity. Education has the biggest impact on life expectancy. The private sector benefits from educated people but may not invest enough in their development. Both productive and unproductive behaviors of economic agents can boost economic growth in Nigeria. The government should focus more on developing effective human capital to improve the economy.