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

TAX REVENUE AND ECONOMIC GROWTH IN NIGERIA

Description

TAX REVENUE AND ECONOMIC GROWTH IN NIGERIA

Authors

John Obiora Anyaduba and Dickson Osamudiamen Efionayi

Abstract

This study investigated the impact of tax revenue on economic growth using adjusted and unadjusted GDP. Data for the study were collected from the annual abstract of National Bureau of Statistics (NBS) and Central Bank of Nigeria Statistical Bulletin (CBN) from 1984 to 2018. Economic growth was proxy using unadjusted GDP (Nominal GDP), adjusted GDP (RGDP), and analysed using Error Correction Models (ECMs). The results from the study revealed that Petroleum Profits Tax (PPT) had a positive influence on economic growth when GDP was adjusted and a negative influence when GDP was unadjusted for inflation. Value Added Tax (VAT) had a negative influence on economic growth when GDP was unadjusted for inflation and a positive influence on economic growth when GDP was adjusted for inflation. Companies Income Tax (CIT) had a negative influence on economic growth when GDP was adjusted and a positive influence when unadjusted for inflation. Custom and Excise Duties (CED) had a positive influence on economic growth when GDP was unadjusted and unadjusted. The study concludes that for CED researchers are free to use either GDP or RGDP as a proxy for economic growth but PPT, CIT and VAT researchers will find mixed result in using GDP or RGDPas a proxy for economic growth.

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