The paper examined the impact of human capital on economic growth in Nigeria, with the aim of providing additional evidence on the relationship between human capital and economic growth. A health adjusted education indicator is used as proxy for human capital which was calculated by taking enrolment rate at primary level and then multiplied the value with expenditure on health as percentage of GDP. The study employed Nigeria annual data, from 1980 to 2011 and Generalised Method of Moment(GMM) techniques in the analysis. Sargan test of over-identifying restrictions was conducted to verify the results obtained from Generalised Method of Moment and the Sargan test showed that the results obtain is valid and reliable. The estimated results provide evidence of positive relationship between human capital and economics growth in Nigeria. The health adjusted education indicator used was found to be highly determined economic growth in Nigeria. The study concluded that special attention should be given to health and education sectors simultaneously in Nigeria, such as increased budgetary allocation to the two sectors and to ensure proper implementation of programs in these two sectors in other to increase returns from these two sectors.

The paper examined the relationship between term structure of interest rate and economic activity and also investigated the relationship between term structure of interest rate and inflation rate in Nigeria. This was with a view of providing additional evidence on the predictive power of term structure of interest rate in Nigeria. The study employed quarterly time series data, from 1986-2008. The period was chosen based on the availability of one of the data used(14 years government bond). The study employed Dynamic Ordinary Lest Square(DOLS) techniques in the analysis. The diagnostics test conducted showed that the results obtain is valid and reliable. The estimated result shows that term structure of interest rate being the difference between interest rates of different maturities had positive and long run relationship with economic activity and inflation rate in Nigeria. The study concluded that the positive and significant of term structure of interest rate indicated that, term structure of interest rate in Nigeria does contain information about future inflation rate and economic activities. The study suggested that monetary authority should be consistent in interest rate policy formulation and Government should also bolster its activity in the Government securities market, as all these will improve the predictive ability of term structure of interest rate about future activities in Nigeria.