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, ECONOMIC GROWTH AND HUMAN DEVELOPMENT INDEX IN NIGERIA

Description

TAX REVENUE, ECONOMIC GROWTH AND HUMAN DEVELOPMENT INDEX IN NIGERIA

Authors

Peter Okoeguale IBADIN and Bukola Toyin OLUWATUYI

Abstract

This paper examined tax revenue, economic growth and human development index. To achieve this main objective in specific terms, the paper evaluated the impact of some major taxes, including Company Income Tax (CIT), Petroleum Profit Tax (PPT), Value-Added Tax (VAT) and Customs and Excise Duties (CED) on Real Gross Domestic Product (RGDP) and Human Development Index (HDI). The variables of RGDP and HDI have respectively been largely used as measures of economic growth and economic development. The paper involved the use of annual time series data for the period 1994 to 2017. Methodologically, the paper employed the use of the application of Augmented Dickey Fuller (ADF) unit root test, Johansen multivariate co-integration technique and Error Correction Model (ECM) method mainly suited for time series analysis. Findings showed a positive and significant relationship between tax revenue and HDI. The result reveals that the impact of tax revenue on HDI is lower than that of RGDP. both as dependent variables. In consequence, we suggest more reliance on the use of the measure (ment) of HDI as it is more encompassing than the use of RGDP, which, going by our findings, provides a weaker picture of relationships between tax revenue and economic growth in Nigeria. On this basis, we advocate tax policies that are development-driven, given that HDI criteria are known for their measurability, both in quantitative and qualitative terms.

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