HUMAN CAPITAL ACCUMULATION AND TRANSITION TO SKILLED EMPLOYMENT IN NIGERIA

Admin/ June 27, 2019/ Journal of Business and Social science/ 0 comments

HUMAN CAPITAL ACCUMULATION AND TRANSITION TO SKILLED EMPLOYMENT IN NIGERIA


1ADEOSUN, Theophilus Oluyemi & 2ODELEYE, Taye Anthonia

: 1&2Department of Economics, University of Lagos

1Corresponding Author e-mail: oluyemiadeosun@gmail.com

Abstract

Investment in human capital stock is a strategy many developing countries have embraced. This is in line with the eight Sustainable Development Goal which focus on decent work and employment. Capacity to learn and develop workplace skills is an important area of study. This research examines the transition route to skilled employment and human capital base in Nigeria from the year 1980-2016, applying the Vector Autoregression (VAR) method of examination. The outcome which was empirically generated indicates that human capital accumulation substituted by enrolment in primary, secondary and tertiary levels positively influenced human capital evolving into skilled employment in the years selected for the purpose of this study. Furthermore, it was shown that the smallest influence to transitioning, is the enrolment in primary schools, while the largest influence to transitioning, emanates from Tertiary School enrolment. This study suggested that 15% to 20% of the nation’s budget, should be dedicated to education, while provision should be made by the government to enhance ensuing budget allocation for subsequent years to be significantly changed to two digits which will enable comprehensive and quality education. Also, an evaluation of the curriculum of tertiary institutions should be conducted to relate with current realities which will allow for standard output, encourage persistent growth of the economy, and increase the output rate and technological creativity.

Keywords: Education, Employment, Enrolment, Human, Skill

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