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This study examines the impact of Economic and Social Sec-
tor Expenditures on Human Capital Development in Nige-
ria from 1981 to 2018. The Autoregressive Distributive Lag
Model was applied in the analysis. The results reveal that the
lagged values of government economic expenditure, student –
teachefr ratio, external aid and per capita income impact sig-
nificantly and positively on current level of development in
human capital, while, government social expenditure, infla-
tion, current value of student – teacher ratio and lagged value
of external aid show a negative relationship with human cap-
ital development. In view of the above findings, the study
recommends that social expenditure should be given more
serious attention, while adequate measure should be taken to
ensure that economic expenditure yield its preferred results.
The study concludes that resources should be properly chan-
neled (and monitored) to areas of expenditure that would
boost human capital development in Nigeria.
