Tag Archives: Nigeria

Predicting Peak Time Inflation in Nigeria Using Sarima Model (Published)

The often-disturbing adverse effects of inflation in developing economies such as Nigeria necessitates developing dynamic inflation forecasting models for appraising shocks on macroeconomic variables. This work utilizes the Box-Jenkins methodology to develop Seasonal Autoregressive Integrated Moving Average (SARIMA) model to predict peak time inflation in Nigeria’s inflation time series from January 2001 to December 2015 obtained from National Bureau of Statistics, Abuja. A test of parameter estimates was performed on the suggested models and, using the AIC and BIC criteria, SARIMA(1,1,2)(2,0,1)12 model was identified as the most fitted model. The diagnostic test of the residuals using ACF and PACF of residual plots showed that they follow white noise process. The result of the monthly forecast indicated that Nigeria will experience high (double digit) inflation rates which will be at its peak in the months of August and September and its lowest rate occurs in January of the year. The information contained here can be useful to ensure monetary and fiscal policies that will stabilize the economy. 

Keywords: Nigeria, Peak Time Inflation, Purchasing Power of Money, Sarima Model, consumer prices

On The Genesis of Nsofang Marble of Ikom Area of Southeastern Nigeria (Published)

Physical, petrographical and geochemical data are used to constrain the mode of formation of low grade marble occurring in Nsofang and environs, in Ikom area of southeastern Nigeria.  The presence of lamination, vug and cavernous structures as part of the physical features of the marble suggest possible formation at T < 100 °C under biological controls, induced during microbial metabolic activity. However, it appears this mode of formation is insignificant as the modal mineralogy of the rock frequently follow the trend: dolomite (90%) + calcite (5%) + quartz (<1%) + talc (<1%) ± phlogopite (<1%) ± Opaque mineral(s) (1%), reflecting impact of low grade metamorphism. The strong linear correlation existing between Mg/Ca and Mn/Sr components supports the participation of metamorphic dolomitization in the formation of the marble. Other elemental geochemical data revealed progressive replacement – type dolomitization as a component applicable mechanism. The intense volcanism associated with the Cameroon Volcanic Line (CVL) most likely drove the hydrothermal system and metamorphism that produced the dolomitization of precursor limestones. It appears the Cenozoic timing of the CVL coincided with the time of dolomitization, while the extrusive activities provided a source of heat and additional ions for the circulating seawater that drove the calcite-dolomite reactions of the replacement-type dolomitization model.

Keywords: Dolomite, Dolomitization, Hydrothermal, Mamfe, Marble, Nigeria

An Appraisal of Nigeria’s Micro, Small and Medium Enterprises (MSMES): Growth, Challenges and Prospects (Published)

This paper took a critical appraisal of the Micro, Small and Medium Enterprises (MSMEs) in Nigeria. The major focus of this work was to expatiate on the growth, challenges and prospects of the MSMEs in the country. While attempting to give an appropriate definition for Micro, Small and Medium Enterprises using employment strength and asset base criteria, the work revealed that SMEs contribute significantly to economic development in the provision of goods and services, creation of employment and contribute to a high standard of living. There are some setbacks facing the over 17,284,671 Micro, Small and Medium Enterprises in Nigeria. These setbacks include; limited financing, lack of action plan to deal with eventualities, lack of managerial and marketing skill, and lack of research appreciation and technical expertise. The study concluded that entrepreneurship is regarded as the catalyst in most developing economies and that it is very crucial to the economic growth and development of Nigeria. As such, it was recommended that government policies should support the establishment, nurturing and growth of SMEs by curtailing or banning importation of certain products, training of young entrepreneurs, establishment of Centers for Entrepreneurial Development and promoting entrepreneurial spirit through the provision of conducive entrepreneurial environment, funding and empowerment programmes. This will facilitate the training and retraining of entrepreneurs and also help Nigerian youths to develop interest in entrepreneurship.

Keywords: Economic Development, Micro, Nigeria, Small and Medium Enterprises, Technical Expertise

Preliminary Investigation of Length-Weight Relationship and Condition Factor of Periwinkle (Tympanotonus Fuscatus, Linnaeus 1758) From Okrika Estuary, Niger-Delta Area of Nigeria (Published)

Assessment of length-weight relationship and condition factor of a commercially important mollusc species, Periwinkle, Tympanotonus fuscatus, from Okrika estuary was conducted from October, 2015 to February, 2016. A total of 120 samples of the species were hand-picked from the mangrove ecosystem of Okrika. The results obtained showed that the gastropod species had negative allometric growth patterns with a growth exponent, b value of 2.18. This value was confirmed as negative allometric, because it was significantly different (p<0.05) from 3 when a t-test was carried out. The mean condition factor, K of the species was 18.9, which indicated that they were in good condition during the sampling period. This study recommends that further research needs to be conducted because the sampling duration was one-third of a year (4 months).  Also efforts should be taken to reduce the pollution load in order to safe-guard this valuable resource for the local population.

Keywords: Condition Factor, Length-Weight Relationship, Nigeria, Periwinkle, Tympanotonus Fuscatus

Land Use Land Cover Change and Hazard Occurrence along Coastline of Nigeria (Published)

The human modification and interference with landscape globally has increased incidence of hazards and disaster most especially in the coastal areas with particular reference to Nigeria. The aim of this study and how it trigger occurrence of hazards at the coastal areas of Nigeria between 2005 to 2015, using landsat 7 thermatic mapper from 1995 to 2005 and landsat 8 enhanced thematic mapper data from 2005 to 2015. From the study bare land and mangrove vegetation shrinked while coastal mud and water (ocean) increased in size. The study recommends mapping of hazard prone areas along the coast of Nigeria the coastal with a view to reduce human inference with Nigeria coastal landscape

Keywords: Land Cover, Land Hazard, Mapping of Hazard, Nigeria, land use

Education Policy in Nigeria and the Genesis of Universal Basic Education (Ube), 1999-2018 (Published)

The Universal Basic Education (UBE) in Nigeria was introduced in 1999 to improve the educational system in the country. The policy was aimed at primary education and junior secondary schools which are the foundations of education worldwide. The paper discussed the UBE Act, 2004 and the statement of the problem outlined. The methodology applied is qualitative technique while cognitive development theory is considered relevant to the work. The Genesis of Education in Nigeria from primary, secondary school and higher education institutions were also analysed. The importance of primary education in a child’s overall development and the relevance of Universal Basic Education in Nigeria were emphasized. The paper suggested the way forward and made some recommendations.

Keywords: Education Policy, Genesis of Education, Nigeria, Universal Basic Education (UBE)

Assessment of Built Environment Quality in Ogbomoso, Oyo State, Nigeria (Published)

The interactions between man and environment determine both the quality of environment and as well as the quality of life that man lives. The feedback mechanisms of the interactions between man and environment are directly proportional. The increase in the number of urban dwellers is no more novel as over 50% of the world population resides in urban centers. This continuous and accidental increase in the number of urban dwellers with respect to their actions in the environment has played significant roles in the depletion of the quality of the environment. Since human health or wellbeing depends on the quality of his immediate environment, the focus on environmental quality emerged as a key area for research in urban and regional planning. This paper appraises the quality of the built environment in a steadily urbanizing traditional settlement in Ogbomoso North Local Government, Nigeria using selected environmental quality indicators while necessary recommendations are put forward to rejuvenate sickening built environment.

Keywords: Built, Depletion, Environment, Health, Human, Nigeria, Quality, Urban

Financial Reporting Quality and Its Effect on Investment Decisions by Nigerian Deposit Money Banks (Published)

The study investigated the effects of financial reporting quality on investment decision making by Deposit Money Banks in reference to Zenith Bank Plc, Nigeria. Data obtained from the audited annual reports of Zenith Bank Plc that covered period of  2009 – 2016.The study utilised both Descriptive and Ordinary Least Square Regression method with the aid of using  E-view 9 to analyse the data. The findings showed that, there was a significant effect of   variables of (Financial Reporting Quality FRQ measures as profit after tax, cash used in/ from investing and cash and cash equivalent) on investment. The result also shows that, Financial Reporting Quality has significantly influenced on investment of Deposit Money Banks with (R2 = 0.98; P <0.05). The study concluded that, higher financial reporting quality increases investment decision by Deposit Money Banks in Nigeria.

Keywords: Cash, Deposit Money Banks, Financial Reporting Quality., Investment, Nigeria, Profit after tax

Level of Availability and Utilization of Information and Communication Technology Facilities by Students: A Case Study of Federal Polytechnic Nekede, Owerri, Imo State Nigeria (Published)

This paper is an attempt to evaluate the availability and utilization of Information and Communication (ICT) facilities  by students in Federal Polytechnic Library, and also challenges the academic library faces in the area of adoption and utilization of ICT in their service delivery. Questionnaire survey approach was adopted. Primary data were collected with the aid of a four point likert scale questionnaire. Questionnaires were administered to Students of the study area. The Population for the Students at Federal Polytechnic Nekede  is 870 which was obtained from the Universities’ Information and Communication Technology block (ICT, 2017). The sample size is 290. The sampling technique used here is stratified simple random. To guarantee the reliability of the instrument, it was administered on ten(10)participants out of the envisaged population of the study. A test-retest reliability method of two weeks interval was conducted, response obtained were subjected to Pearson Product Moment Correlation method and a reliability co-efficient of 0.78 was obtained. To analyze data on the research questions of the study the researcher used descriptive statistical mean. The hypothesis was tested using the chi-square (x2) which is a statistical tool to test hypothesis about the relationship between means of groups. It was tested at 0.05 level of significance. The study found that scanning machines, printer, CD-ROM, Computer, Flash Drives, Land Area Network (LAN) and Inverter were available but few. Also the majority of the students indicated that they use ICT to retrieve information (3.1), make research(3.1), disseminate information (3.0) chat with friends (3.1) and download files (3.0). Challenges such as unreliable telecommunication network (3.3) insecurity in the library (3.3) epileptic power supply (3.3) unreliable internet (3.0) and high cost of ICT hardware/software were identified as major challenges of availability and utilization of ICT in the school’s academic library. It was recommended however that these challenges be looked into both by the institution and government in order to address the challenges.

Keywords: Academic Library, Education, ICT, Information and Communication Technology, Nigeria, Students, Utilization

Availability and Utilization of Information Resources and Services in the Special Education Centre Libraries in South-East, Nigeria (Published)

The study focused on ascertaining the availability and utilization of information resources and services in the special education centre libraries in South-East, Nigeria. The study was prompted due to the problems encountered by physically challenged student in the use of normal library services. Six research questions were posed to guide the study, while two hypotheses were formulated and tested at 0.05 level of significance. The study adopted survey research design, and used observational checklist and rating scale as data collection instruments. The sample size for the study was 430 comprising five special education staff and 425 special education pupils/students. Two-stage sampling simple random sampling was made. Cronbach Alpha technique was used to ascertain reliability coefficient of .85. Frequency count, standard deviation and mean score were used to address the research questions while the hypotheses were tested using t-test of difference. Results revealed that the number of available information resources for the blind and partially sighted is significantly less than expected in this context. That the number of available information resources for the deaf and hard of hearing is also significantly less than expected. The study also revealed that the available information services for the blind and partially sighted is significantly less than expected, the available information services for the deaf and hard of hearing is also significantly less than expected. The available information resources for the blind and partially sighted are not fully utilized, and the available information resources for the deaf and hard of hearing are not fully utilized. The study concluded that the provision of information resources and services is less than expected. Also the available information resources and services are not fully utilized by the physically challenged groups studied for any significant impact in learning. It `was recommended that, there should be provision of information resources, such as Braille resources; tactile or raised surface; sign language books; adaptive or electronic devices. Services like: on-sight support; guided tours; facilities, etc.  Every such library should employ librarians who are clearly aware of the nature of work they do. Adequate funding for proper management of the special education centre libraries in Nigeria in such a way as to meet the present day educational demand for these classes of /pupils/students studied, among others. Suggestions for further studies were also made.

Keywords: Education, Information resources, Libraries, Nigeria, Students, Utilization

Trade Openness and Nigeria’s Economic Growth (1990- 2015) (Published)

This study examines empirically the relationship between Trade openness and Economic growth in Nigeria. The study covered the period 1990 – 2015, using ARDL approach to cointegration.  The ARDL result confirmed the existence of a long-run relationship between Economic Growth, Trade Openness, Foreign Direct Investment and Gross Capital Formation. It was found that Trade Openness and Gross Capital Formation had positive and negative impacts respectively on growth rate of GDP in the short run. Therefore, this study concludes by recommending that; (i) trade openness should be regulated by government; from our result an increase in trade openness caused a decrease in our GDP (ii) FDI should be encouraged as it was seen to have significantly improved economic growth in Nigeria.

Keywords: Auto-Regressive Distributive Lag (ARDL), Nigeria, economic growth, trade openness

Education for Sustainable Development in Nigeria and Other Developing Nations (Published)

This paper is a contribution to addressing the challenge of underdevelopment in Nigeria using the tool of education. The researcher looked at education for sustainable development in Nigeria as a developing country. In recent times, there has been a paradigm shift in defining development and the way it is practiced. This paradigm shift is what has resulted in the adoption of Sustainable Development (SD) as a concept. Sustainable Development was highlighted in the Brunttand Report, at the Stockholm Conference of 1972 and more recently, in Paris, France where over 169 countries adopted the 17 Sustainable Development Goals (SDGs) as a working document. All over Nigeria, there are rumours and evidence of failed leadership characterized by dwindling educational, economic, social and political fortunes. All these problems are as a result of the inability of the leadership to plan successfully for development using appropriate educational tools. It is the opinion here that, Education for Sustainable Development (ESD) can function to educate, train and undertake research to contribute to the sustainable development of the Nigerian Society. For instance, such education can provide the citizens with skills, perspectives, values and knowledge to live sustainably in their communities. It can also produce leaders who manage the affairs of government and private sector industries to constitute the stake holders of sustainable development. To function properly in this regard, Education for Sustainable Development (ESD) should grow from a variety of sources and be delivered through casual, informal, non-formal and formal strategies. In order to achieve these therefore, the paper recommends among other things that there should be a reorientation of existing education at all levels to include principles, skills, perspectives and values of sustainable development. That formal, non-formal informal and casual education for knowledge, attitude and skills for poverty alleviation and human development be promoted. 

Keywords: Developing Nations, Education, Nigeria, Sustainable Development

Analysis of Poultry Eggs Marketing In South-South Part of Nigeria. A Case Study of Ika South Local Government Area, Delta State, Nigeria (Published)

Poultry egg marketing is a common enterprise in Ika South Local Government Area, Delta State of Nigeria; but there are no documented research findings on the conduct of the market and profitability to authenticate the viability of this business. Thus, this study was targeted to analyze the performance of poultry egg marketing in Ika South Local Government Area, Delta State. The study was conducted in five purposively selected villages in Ika South L.G.A., Delta State. Twelve (12) respondents were then randomly selected from each of the five selected villages to give a total of sixty respondents. Descriptive statistics were used to analyze the socio-economic characteristics of the respondents, the profitability of poultry egg marketing was determined using gross profit margin analysis, net profit margin analysis and return on investment. Gini Coefficient was used to examine the market structure for poultry egg marketing. The results of the study showed that majority (40.00%) of the poultry egg marketers were within the age group of 30≥ 40 years, majority (71.70%) of the marketers were female, 50.00% were married, 35.00% had family size of 3 – 5 persons. 30.00% of them attained  tertiary level of education, 41.67% had marketing experience of 1-5 years, 53.33% had egg marketing as their primary occupation, 65.00% were none members of co-operative societies. The gross profit margin was N772,200 while the net profit margin was N747,500 per marketer per annum and return on investment was 0.29,  which showed that poultry egg marketing is profitable and viable in the study area.  Gini Coefficient of 0.3054 showed that there was a moderate inequality in the distribution of incomes among the marketers hence some level of perfect competition of the market structure. The major constraints militating against poultry egg marketing in the study area included: inadequate capital, poor transportation, price fluctuations and exorbitant price of poultry eggs. The study therefore recommended that credit granting institutions should be established, effective transportation system and good road networks should be constructed in the study area for easy transportation, price control mechanism should be established to avoid fluctuation of price within the marketing system and the activities of trade union should be minimized to reduce the exorbitant price of poultry eggs to consumers.

Keywords: Gini Coefficient, Market structure, Marketers, Nigeria, Poultry Eggs, Profitability

Umbilical Cord Care and Management Outcome among Mothers in Calabar South Local Government Area of Cross River State – Nigeria. (Published)

In developing countries umbilical cord infections constitute a major cause of neonatal morbidity and pose significant risk for mortality Methods of caring for the umbilical cord vary greatly between communities depending on their cultural and religious beliefs, level of education and resources. The risk of cord infection is increased by unhygienic cutting of the cord and application of unclean substances. This study examined the cord management practices and management outcome among mothers in Calabar South Local Government Area of Cross River State, Nigeria. Methods: A cross sectional community based study was conducted in Calabar South Local Government Area of Cross River State, Nigeria. Calabar South is one of the two Local Government Areas that make up Calabar Metropolis with 11 wards. Women of child bearing age were used as population of the study. A sample size of 451 mothers was selected using the snowball method. A structured pre-tested interviewer administered questionnaire was used to collect data. Data were analyzed descriptively using frequencies, percentages, means and standard deviation. All analyses were performed using SPSS version 18.0 at 95% confidence interval. Results: Whereas most of the respondents 224(49.8%) used methylated spirit in cleaning the cord, others used dettol 88(19.6%), saliva and salt 44(9.8%), herbal preparations 44(9.8%). Most of the respondents 314 (69.8%) applied unhygienic substances at the base of the stump after cleaning the cord. Main reason for choice of materials includes to wade off evil spirits and hasten cord separation 270(55.9%). The outcome of cord management showed that majority of the umbilical cords were infected 338 (75.1 %.). Conclusion: Majority of the respondents applied harmful and contaminated materials/ substances to the umbilical cord. Good umbilical cord care practices can lead to improved newborn care while poor umbilical cord care practices may result in neonatal morbidity and mortality. Improving the standard of umbilical cord care among mothers can largely be achieved through health education and follow up visits by nurses after discharge from the health facility.

Keywords: Calabar, Management outcome, Mothers, Nigeria, Umbilical cord care

Performance of Fishery Cooperative Societies in Rivers State; Nigeria (Published)

In Nigeria fishery sub-sector accounts for about 40% of animal protein in the diet and contribute 4.4% of the agricultural share of the nation’s GDP in 2003. Nigeria is blessed with a vest expense of inland, fresh water, marine and brackish ecosystem which is richly bless with aquatic life. However Nigeria fish production volume of 0.5 tones cannot meet the annual demand of 1.3 million tonnes. Average annual fish consumption in the country has therefore stagnated a 9.2kg per capita, a situation that resulted in a huge supply and consumption gap. The study, therefore had its trust as appraising the performance of fishery cooperative societies in Rivers State. Data were obtained from 360 cooperative fishermen, from 12 purposively selected Local Government Area of Rivers State. Data obtained were analyzed with both descriptive and inferential statistics. The findings revealed that, the respondents were of low educational qualification as such affected their initiative to improve the technique in the fish production as well as management of the fishing experience, had significant influence on the fishermen return as fishermen who went for more catch. Also, the findings from the study gave evidence that; there are three major sources used in the fishing exploit deep sea approach, the riverside and the creek. It was observed that more fishermen prefer the creek as fish tend to hide at the creek followed by the riverside approach with few exploiting the deep sea. The findings revealed that fishermen are faced with various degrees of challenges which range from pollution, climate change/bad weather, financial challenge; storage and processing facility; as well as high cost of fishing tools. The Researcher, therefore recommended among others that formal cooperative system of fish producers should be put in place to improve fish production in the areas.

Keywords: Cooperative Societies, Fishery, Nigeria, Rivers State

Loan Repayment Behavior among Member of Farmers Multipurpose Cooperative Societies in Anambra State (Published)

This study examined the loan repayment behavior of farmers multipurpose cooperative societies in Anambra State. The famers are poor and cannot raise the money needed for farming and when they obtain loan repayment is usually poor. The study specifically examined the range of amount of loan applied for, amount approved, amount disbursed and repaid by the cooperative farmers. It investigated the socioeconomic factors affecting the farmers’ credit repayment ability and ascertained major problems affecting the farmers in loan repayment using t-test statistics and a multiple econometric model of the Ordinary Least Square (OLS). Findings revealed that there is a significant difference between the amount of loan received and amount repaid by the cooperative farmers. The joint effect of the explanatory variable in the model account for 91.9% of the variations in the factors affecting the farmers’ credit repayment ability. Four coefficients (educational qualification, farm size, loan application cost, and collateral value) are significant. Age, membership duration and income of the farmers are not significant but they show a positive relationship with loan repayment. Factors affecting the farmers’ credit repayment ability are significant at 0.000 significant level. The study therefore recommends among others that cooperative societies should endeavour to educate the farmers on financial discipline and management because it has proven to significantly influence loan repayment. Lending institutions should ensure that whoever they are lending to meets a minimum threshold in asset value before loans are accessed. This will help to reduce defaulters.

Keywords: : Loan Repayment, Farmers, Multipurpose Cooperative, Nigeria

Community Participation in the Millennium Development Goals (Mdgs) Programmes in Awka North Local Government Area (LGA) of Anambra State, Nigeria (Published)

The term community participation is commonly understood as the collective involvement of Local People in assessing of their needs and organizing strategies to meet those needs. The importance of community participation in Millennium Development Goals Programme is uncontested. Communities in Awka North lack infrastructures such as good roads, healthcare, electricity, pipe born water, schools etc. the study analyzed the level of community participation in the Millenium Development Goals (MDGs) programmes in Awka North LGA of Anambra State. Awka North LGA is made up of 10 autonomous communities where data were obtained from 100 respondents with the help of multi stage sampling technique. Data obtained were analyzed using both descriptive statistics (frequency tables, simple percentage and 5-point scale analysis with standard mean of 3.0) and inferential statistics. The result revealed that MDGs have implemented and executed some reasonable developmental programmes in the area. Also, there was evidence that communities are involved to an extent. In order to strengthen and enhance community participation in developmental  programmes, the following recommendations are made; the community should be allowed to identify and make choice on the type of programmes and projects they went in their community. Also, the government officials should allow the community to be involved in the design, planning and formulation of the programmes. All these will encourage full participation of the community.

Keywords: Communtiy Participation, Millennium Development Goals (MDGS), Nigeria

Background Geochemistry of Soil In Part of Girei District, Upper Benue Trough, N.E. Nigeria (Published)

Soil geochemical study aimed at determining the background levels of trace and major elements in soils of a relatively small part (MAUTECH Campus) of Girei District has been carried out. The results show that the contents of trace and major elements in the area are generally low and vary by factors ranging from about 3 times (As, V), about 4 times (Ni, W), about 6 times (Cd, Rb, Be), about 10 times (Cr, Ba, Br), about 7 times (Se), about 18 times (Mo), about 30 times (Co) and about 45 times (Pb). The low contents reflect the granites and migmatite gneisses bordering the study area and suggest that the soil was derived from these granites with little contribution from the mafic gneisses. Correlations amongst elements are significant at the probability level of 0.01. Among the major elements; Mg has a strong positive relationship with Ca (0.88), and Al (0.74) while Fe is also strongly related to Al (0.69). Several trace elements have very strong positive relationship with one another: Ba-As (0.91), Be-As (0.93), Be-Ba (0.91), Cs-Ba (0.91), As-Cs (0.85), Cr-Ba (0.85), Cr-Be (0.85), Cs-Be (0.88), As-Ce (0.94) and Cs-Cr (0.86). Mn and Mo are poorly related with most of the trace elements. Among the rare earth elements, Eu is strongly related to Dy (0.98), Gd (0.99) and Lu (0.96) just as Dy is strongly related to Er (0.99), Eu (0.98), Gd (0.98) and Lu (0.98). These strong positive correlations among elements suggest that chemical and physical factors control elements associations in parent materials and soil forming processes. Consequently, the data may serve as a reference standard in the assessment and monitoring of possible future environmental issues related to trace and/or major element contamination

Keywords: Background Geochemistry, Benue Trough, Girei, Nigeria

Managing Study Habits and its Impact on Secondary School Students Academic Performance in Nigeria (Published)

How a student takes his or her studies, greatly determines his/her level of academic achievements. The level of preparation and learning strategies developed and employed consciously by students, go a long way to influence their level of academic performance

Keywords: : Academic Performance, Nigeria, secondary school students, study habits

The Dynamics of Human Capital Development and Industrial Growth in Nigeria (Published)

This article is aimed at providing empirical evidence on the impact of human capital development on industrial growth in Nigeria. Time series data spanning 1976-2016 period on relevant variables were analyzed using both descriptive and econometric techniques. ADF procedures were used to test for stationarity of the variables. The results show that the variables moved towards equilibrium in the long-run. The results also show that recurrent expenditure on education and health has a negative impact on industrial growth. The goodness of fit was encouraging. This article asserts that rigorous pursuance of graduate skill acquisition programmes as well as adherence to the 26 per cent minimum budgetary allocation demanded by UNESCO for education which will spur improvement in human capital development will impact industrial growth positively. More-so, incentives such as tax holidays, pioneer reliefs and exemptions that aids increased investment in industrial growth be vigorously pursued by governments at all levels in Nigeria.

Keywords: Exchange Rate, Human Capital Development, Industrial Growth, Nigeria, expenditure on education, expenditure on health, gross capital formation

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