The connection between education and sustainable economic growth in Nigeria

Emediegwu, Lotanna ORCID: https://orcid.org/0000-0001-7844-0397 and Ighodaro, Clement (2016) The connection between education and sustainable economic growth in Nigeria. Zambia Social Science Journal, 6 (1). pp. 65-79. ISSN 2079-5521

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Abstract

This article considers the nexus between education and economic growth in Nigeria. Education here is seen as portraying one of the major components of human capital formation. Investment in the quantity of education, and more significantly in its quality is pivotal to achieving sustainable economic growth. Time-series data were collected from different sources for the period 1980-2015. Cointegration technique and error correction methodology were employed for the estimation of the chosen model. The empirical results reveal that educational investment impacts on economic growth in Nigeria in a direct and significant manner. Hence, amongst several recommendations, we propose that a forceful and pragmatic injection of funds by government at all levels into the different sectors of education is a key factor to increased and sustainable economic growth.