Human Capital, Employment And Sustainable Development In Nigeria
Oladimeji Abeeb Olaniyi, Adewale Mathew Adekanmbi, Tajudeen Adewale Olanrewaju, Margaret Abidemi Olomola, Oluwasanmi Oyedeji
Keywords: Human capital, employment, VECM, sustainable development JEL Codes: I25, J21, Q01, O15, O55
Abstract
This study investigates the short-run and long-run relationship between
human capital development, employment and sustainable development in Nigeria from 1990 to 2024 using the Johansen Cointegration and Vector Error Correction Model (VECM). The results reveal that human capital development and employment have significant positive impacts on
sustainable development in both the short and long run, implying that
investment in education, skills and health enhances productivity and
improves welfare. However, labour force growth exhibits a negative effect,
suggesting that rapid labour expansion without adequate job creation can
impede human development progress. Inflation shows an insignificant effect,
indicating that macroeconomic instability weakly influences sustainable development outcomes. The study concludes that human capital formation and productive employment are critical drivers of sustainable development in Nigeria. The study recommends increased investment in education, healthcare and technical training, alongside policies that promote job creation, macroeconomic stability and innovation-driven growth in achieving
sustainable development.
Author Biography
Oladimeji Abeeb Olaniyi, Margaret Abidemi Olomola
Department of Economics, University of Ilesa. Nigeria.
Email: [email protected]; [email protected]
Adewale Mathew Adekanmbi
Department of Economics, Dominion University, Ibadan. Nigeria
Email: [email protected]
Tajudeen Adewale Olanrewaju
Osun State University, Osogbo. Nigeria
Email: [email protected]
Oluwasanmi Oyedeji
Department of Liberal Studies, Economics Unit, The Federal Polytechnic, Ado-Ekiti.
Email: [email protected].
Corresponding Email: [email protected]