Public Health Expenditure and Human Capital Development: Implication on Economic Growth in Nigeria

OGUNJOBI, J. O. and OLALERE, S. S. Public Health Expenditure and Human Capital Development: Implication on Economic Growth in Nigeria. Public Health Expenditure and Human Capital Development: Implication on Economic Growth in Nigeria, 07 (03). pp. 201-210.

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Abstract

The objective of the study is to examine the effects of public health expenditure and human capital development on economic growth in Nigeria between 1981 and 2021. The study employs non-linear equation (VAR). The study incorporates the following variables: Economic growth (proxied by GDP growth rate), growth rate of capital formation, Human capital (proxied by secondary school enrolment), labor force, public health expenditure, life expectancy rate and infant mortality rate. The result of the findings shows that public health spending and secondary school enrolment exhibit both positive and negative impact on economic growth in the short- run, but their impact are said to be insignificant. This might be attributed to inappropriate funding of both health and education sector, misplacement of priority, corruption, money policy formation and some other human factors. The study therefore recommended that governments at all levels should ensure proper funding of both health and education sectors in Nigeria as well as formulating appropriate policies to improve high standard of education and health care services and facilities in Nigeria.

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