This study evaluates education expenditure and human capital development in Nigeria using time series data obtained from World and CBN Statistical Bulletin covering a period of 38 years from 1981-2018. The data collected were analyzed using the Vector error correction model (VECM). Augmented Dickey Fuller (ADF) unit root and ARDL Bound tests were all performed. Findings revealed that a proportionate change in government education expenditure and human capital development lead to a more than proportionate change in economic growth of Nigeria. The study recommended that the National Assembly members should review the budget estimate and offer adequate finance the educational sector. Public officers should also consider significant areas of needs encompassed in the United Nations' Sustainable Development Goal, UNSDG, where education is one of the most important priorities and focus areas.
