Human Capital Development: A Catalyst for Achieving Sdgs in Nigeria

Abstract

There is no gainsaying in the fact that one of the objectives of Sustainable Development
\nGoals (SDGs) is to attain poverty hitch-free by 2030. However, the continuous increase in poverty level
\nhas generated a lot of debates among policymakers, scholars and economists while government have
\nalso been continuously formulating different policies to avert this ugly situation. Various studies have
\ndocumented the contributions of human capital development to poverty alleviation in Nigeria with
\nspecial reference to MDGs and their results might not be transmitted to achieving the SDGs in Nigeria.
\nThis study therefore addresses this issue. The paper examines the impact of human capital development
\non poverty alleviation in Nigeria over the last two and half decades (1990-2017). The results obtained
\nshall be used to project into the future as to whether investments in human capital expenditure has
\npotential to achieve the objectives of Sustainable Development Goals (SDGs) by 2030. The study
\nadopts a log-linear regression model formulated sequentially from the Solow’s neo-classical growth
\ntheory and standard Cobb-Douglas production function. The prevalence of poverty rate as a percentage
\nof total population was regressed on unemployment rate, real government expenditures on education
\nand health. The result of the estimated model reveals that real government expenditure on education
\nand unemployment rate both have significant effect on the prevalence of poverty in Nigeria. However,
\nreal government expenditure on health has negative but insignificant inelastic effect on the prevalence
\nof poverty rate in Nigeria during the period under review. On this basis, the paper therefore suggests
\nthat government should invest more in education and facilitate the integration of vocational training
\nprogrammes and courses as part of academic curriculum in schools at all levels. Also, government
\nshould increase investment in the health sector to ensure improvement and access to quality health
\nfacilities in the country, if human capital investment should catalyze SDGs achievement.