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| Tax Revenue and the Nigerian Economy |
Oshiobugie O. Bruno & Akpokerere O. Emmanuel, Ph.D
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Abstract:
Abstract: This study examines tax revenue and the Nigeria economy from 2000 - 2017: A number of related studies have shown that tax revenue contributed to economic growth. Yet some researchers observed that tax is discriminatory in the sense that it is assessed on persons or property based on profits or income, the benefits derived by citizens from tax payment is without reference to the contribution of individual tax payers. The main objective of the study was to study the effect of tax revenue on economic growth in Nigeria. Secondary data were sourced from Central Bank of Nigeria Statistical Bulletin of various editions. The study adopted the ex-post facto research design while ordinary least square regression techniques was used to process the data gathered using E-view 8.0 software. The null hypotheses (Ho) were tested at 5% level of significance. the findings revealed that there is insignificant effect of tax revenue on economic growth under the period study and concluded that personal income tax and company income tax affect economic growth in Nigeria either negatively or positively. The study recommends among others that it beholds on Nigeria government to remove the problem of multiple taxation as the presence of multiple tax discourages entrepreneurship businesses in Nigeria.
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