Tax revenue, Economic growth, Nigeria
The main objective of this research is to assess empirically the impact of tax revenue on economic growth in Nigeria, spanning from 1981 to 2017. It employs, time series data obtained from the CBN statistical bulletins, FIRS annual publications and National Bureau of Statistics (NBS) portal. To achieve the objectives of the study, OLS and ARDL techniques were employed to estimate the relationships and the dynamics and longrun effects of independent variables on dependent variable. ARDL bound test revealed that the variables are cointegrated while ARDL long-run estimation indicated that petroleum profit, value added tax and government domestic debt are significant and positively related to GDP. In addition, company income tax and customs and excise duties came out significant but have negative impact on economic growth. Accordingly, the research recommends that, the government should intensify efforts towards increasing the collection of tax revenue, as low contribution of tax revenue to GDP was discovered over the period of the study. This can be done through blocking all loopholes in our tax laws as well as bringing more prospective tax payers into the tax net especially the informal sector.
Aliyu, Abubakar Biliksu and Mustapha, A. A.
"Impact of tax revenue on economic growth in Nigeria (1981-2017),"
Bullion: Vol. 44:
4, Article 5.
Available at: https://dc.cbn.gov.ng/bullion/vol44/iss4/5