THE RESPONSE OF THE PRODUCTIVITY OF PHARMACEUTICAL FIRMS TO HUMAN CAPITAL INVESTMENT: EVIDENCE FROM NIGERIA.

This study examined the response of the productivity of pharmaceutical firms to human capital investment: evidence from Nigeria. The study specifically examined the relationship of: staff education/training and staff healthcare services to return on investment of Pharmaceutical firms in Nigeria. Data of the study were sourced from annual reports of the five (5) sampled pharmaceutical firms. Hypotheses raised were analysed using Correlation Coefficient, result of the hypotheses shows that staff training expenses of pharmaceutical firms in Nigeria positively and significantly relate with the firms Return on investment with Pearson Correlation result of. 723**and P-value of 0.000. This implies that staff training cost has a positive influence on the return on investment of the selected firms under study. It was discovered from the study that staff healthcare services of pharmaceutical firms in Nigeria positively and significantly relate with the firms return on investment with Pearson Correlation result of .657**and P-value of 0.000. This implies that staff healthcare services have a positive influence on return on investment of Pharmaceutical firms in Nigeria. Based on the findings, the study recommends among others that firms should implement more of on-the-job training in order to reduce expenses on staff training. On the job training should be augmented with other forms of staff training