Nexuses between human capital investment and poverty reduction in Nigeria
Bosco Itoro Ekpenyong, Tubotamuno Boma
This paper examined the nexuses between human capital investment and poverty reduction in Nigeria from 1990-2018. Objectively the study, examined both the relationship between government expenditure in education and health on poverty reduction in Nigeria. Secondary data sourced from CBN statistical bulletin and World Bank data base were used for the analysis. The technique of descriptive statistic and Ordinary Least Square (OLS) was used to analyze the data. The empirical result from the descriptive statistics showed that the variables were normally distributed. Also positive standard deviation connotes data consistency. From the OLS result, the R2 is 82%; meaning that the model is a good fit. Government investment in education is negatively related to poverty rate and statistically significant. Government investment in health is negatively related to poverty rate but not statistically significant. The paper concludes that quality education and good health could be achieved through sufficient financing of human capital, this will in turn reduce poverty in Nigeria. Based on these findings, the study recommended that Nigeria government at all levels should increase their budget to double digits in both the education and health sectors in order to increase the intellectual capacity of the people as well as health status of the citizenry which will in turn lead to increase in production aptitude of the economy.