PUBLIC HEALTH INVESTMENT, PUBLIC EDUCATION INVESTMENT AND INDUSTRIAL OUTPUT GROWTH IN NIGERIA
Investment in public health and public education is expected to have positive effects on the nation’s industrial output. Nigeria economy seemed to have recorded deficit in this area in terms of inadequate allocation to health and education, with the resultant effect on low productivity in the Nigeria industrial sector. Hence, study examined the relationship between public health investment, public education investment and industrial output growth in Nigeria. Secondary data were collected from the Central Bank of Nigeria 2022. The study due to the strong evidence of long run relationship among the variables, conducted ARDL model to be able to determine the nature of the relationship between the variables. Selected variables are integrated of order I (1) and I(0). Cointegration test was carried out using ARDL Bounds Test approach to cointegration. The finding revealed that, in the long run, public education investment have significant effect on industrial output in Nigeria as well as longrun negative relationships exist between public health expenditure on the performance of industrial output in Nigeria and that long run relationship exist between Gross Capital Formation and industrial output in Nigeria. In the long-run the level of inflation rate, gross capital formation, exchange rate and interest rate affects industrial sector output growth positively and negatively in Nigeria. Based on the findings, the study recommended among others that; government should grow the industrial sector through its budgetary allocation on education which contribute positively to industrial growth in the long run in Nigeria. Government should increase and restructure its expenditure on health sector in order to provide more funds to the sector.
Public Health Investment, Public Health Education, Industrial Output Growth.