For correspondence:-
Received: January 23 2023 Accepted: March 26 2023 Published: 31 March 2023
Citation: Human Capital Development and Manufacturing Sector Performance in Nigeria. Account Tax Rev 2008; 7(1):1-16 doi:
© 2008 The authors.
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Abstract
The study examined the effect of human capital development on the manufacturing sector in Nigeria for the period 1981-2021. After various pre-estimation test such as unit root and co-integration were carried out. The study utilized Ordinary Least Square (OLS), Augmented Dickey-Fuller Test and Auto Regression Distributed Lag Bound Test. Secondary data were collected from the Central Bank of Nigeria Statistical Bulletin. Human capital development and Manufacturing value added have a significant inverse relationship. More so, Exchange rate and Manufacturing value added have insignificant inverse relationship. Consumer price index and Interest rate showed an insignificant positive relationship with Manufacturing value added. Population growth rate and Manufacturing value added possess a positive and significant relationship. From these important findings that emerged from this study, it is important to conclude, that the overall model or variable are significant relationship with manufacturing sector growth in Nigeria. In view of the above, the study made recommendations for training and retraining of staff in the manufacturing sector to enable them to acquire requisite skills and knowledge to enhance productivity and also make provision of new technological equipment and training of workers on new technologies. This will lead to better performance of the manufacturing sector in Nigeria.
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