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

Issue 2, September 2022

Description

DETERMINANTS OF TAX REVENUE IN NIGERIA: MACROECONOMIC PERSPECTIVES

Authors

Fredrick IKPESU

Abstract

Tax revenue in recent times has been one of the most discussed issues among policymakers and scholars due to its significant effect on the development of any country. The revenue generated from tax is often relied on by the government to finance both recurrent and capital expenditures. However, the amount of tax revenue to be generated is influenced by some macroeconomic factors. This study examined the determinants of tax revenue in Nigeria from macroeconomic perspective employs the Dynamic Ordinary Least Square (DMOLS) in analyzing data from 1981 to 2021. The regression estimates indicate that the annual growth rate of GDP, FDI, foreign debt, foreign aid, inflation, and exchange rate are the key macroeconomic variables that determine tax revenue in Nigeria.

Keywords: