Journal • CITN Journal

Editorial Board

Editor-in-Chief

Professor Rafiu Oyesola Salawu

Department of Management & Accounting, Faculty of Administration, Obafemi Awolowo University, Ile-Ife

Managing Editor

Professor Godwin Emmanuel Oyedokun

Department of Management & Accounting, Lead City University, Ibadan, Nigeria

Editorial Board Secretary

Mary-Fidelis Chidoziem Abiahu

Director, Research and Professional Standard, Chartered Institute of Taxation of Nigeria

Editorial Board Members

Professor Chinedum Nathaniel Nwezeaku

Federal University of Technology, Owerri

Professor John Adeoti

Nigeria Institute of Social and Economic Research (NISER), Ibadan

Professor Uche Jack-Osimiri

Faculty of Law, River State University, Port Harcourt

Professor Aruwa Suleiman Akwu-Odo Salihu

Nasarawa State University, Keffi Nasarawa State Nigeria

Dr. Eiya Ofiafoh Ofiafoh (Associate Professor)

Department of Accounting, University of Benin, Benin City, Nigeria

Dr. Stephen Chukwuemeka Mark Abani

MCSA Worldwide Projects Limited, Abuja, Nigeria

Dr. Kenny Adedapo Soyemi

Department of Accounting, Olabisi Onabanjo University, Ago Iwoye, Ogun State, Nigeria

Professor Joseph Uchenna Uwaleke

Department of Banking & Finance, Nasarawa State University, Keffi Nasarawa State, Nigeria

Barrister Chukwuemeka Eze

Faculty of Law, Nasarawa State University, Keffi Nasarawa State, Nigeria

Mr. Simon Nwanmaghyi Kato

Federal Inland Revenue Service, Chairman’s Office, Abuja, Nigeria

EFFECT OF TAX REVENUE ON ECONOMIC GROWTH IN NIGERIA

Description

EFFECT OF TAX REVENUE ON ECONOMIC GROWTH IN NIGERIA

Authors

Bamidele, Comfort Olaitan and Olowookere, Johnson kolawole

Abstract

This study examined the effect of tax revenue on economic growth in Nigeria between the period 1994 -2017. Secondary data were sourced from Central Bank Statistical Bulletin (2017) and National Bureau of Statistics database. Gross Domestic Product that proxied economic growth served as the dependent variable while petroleum profit tax, company income tax, value added tax and custom & excice duty which are indices of tax revenue served as independent variables. Descriptive statistics and multiple regression analysis were conducted on the data. The Diagnostic test was also carried out on the reliability of the data used. The regression result revealed that Value added tax, Petroleum profit tax and Company income tax have positive effects on economic growth and statistically significant with their P-value less than 0.05. However, Custom & Excise duty has a negative effect on economic growth for the observed period. To generate reasonable revenue and sustained economic growth this paper suggests less attention on custom & excise duty and focus on other forms of tax.

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