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Foreign capital inflows is the influx of usable funds that comes from a source or sources outside the country. The main objective of the study is to examine the effect of international capital inflows on human capital development in Nigeria. Other specific objectives include to: Investigate the effect of foreign portfolio investment on human capital development in Nigeria, examine the effect of external debt stock on human capital development in Nigeria, determine the effect of foreign direct investment on human capital development in Nigeria, access the effect of official development assistance on human capital development in Nigeria. The study adopted an ex-post facto research design because the data for the study are secondary data which were sourced from the Central Bank of Nigeria (CBN), Statistical Bulletin and Annual reports and Statement of Accounts, The data were analyzed with econometric techniques involving descriptive statistics, Augmented Dickey Fuller Tests for Unit Roots and the Ordinary Least Square (OLS). The result of the study indicates that foreign portfolio investment, external debt stock, foreign direct investment and official development assistance has positive and significant effect on human capital development index (HDI). The study concludes that international capital inflow has positive effect on human capital development in Nigeria within the period under review. In line with the objective of the study, the study recommends that, there is the need for greater foreign participation in the stock market which could enhance foreign portfolio investment in the country and maintain sustainable human capital development. External debts should be contracted solely for economic reasons and not for social or political reasons. An effective policy should be made based on the fiscal and monetary policies which should be aimed at achieving a realistic foreign direct investment in human capital development in Nigerian. Since theories have supported that these capital channels should boost human capital development in Nigerian, it is pertinent that Nigeria government should investigate the spending pattern of the funds obtained through official development assistance