TAX REVENUE SOURCES AND THE NIGERIAN ECONOMY IN THE POST COVID PERIODS
DOI:
https://doi.org/10.51594/farj.v5i10.563Abstract
The study examined the impact of tax revenue on the Nigeria economic growth between the periods of 2002Q1 to 2022Q4. The study covers the entire economic growth of Nigeria The tax revenue proxies considered are: Petroleum Profit Tax (PPT), Value Added Tax (VAT), Company Income Tax (CIT) and Custom and excise duties (CED) whereas economic growth was proxied with Gross Domestic Product (GDP). The study made used of secondary (Quarterly data) sourced from Planning, Research and Statistics Department (2020-2022); Financial Inland Revenue (2020 to 2022); CBN Statistical Bulletin (2020 to 2022). The result showed that, both Petroleum Profit Tax (PPT) Company Income Tax (CIT) had high adverse yet considerable effect on economic growth of Nigeria during the Post Covid-19 periods whereas Value Added Tax (VAT) and Custom and excise duties (CED) had high positive yet considerable effect on economic growth of Nigeria during the Post Covid-19 periods. Hence, the study conclude that, Tax revenues have mixed effect on the growth of the Nigerian economy during the Post Covid-19 Era. As such, policy makers must ensure that, revenue gotten from petroleum tax should be the fund obtained be properly channels. Lastly, the Nigerian government should ensure that companies that evade tax should be brought to book
Keywords: Tax Revenue Sources, Nigerian Economy, Post Covid Periods.
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Copyright (c) 2023 BIWEI, Theodora Awele (Ph.D. Candidate), JOSIAH, Mary (Ph.D.), AGBO, Sunny, I. (Ph.D.)
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