An Emperical Analysis of Tax Revenue and Economic Growth in Nigeria from 1980 To 2015

Abomaye-Nimenibo
Abomaye-Nimenibo * § Ph.D., M.Sc., B.Sc. Economics, MBA Management and UD, Personnel Management and Industrial Relations, Director of Postgraduate Studies, School of Postgraduate Studies
Contact
§ OBONG UNIVERSITY OBONG UNIVERSITY

Send Message

To: Author

An Emperical Analysis of Tax Revenue and Economic Growth in Nigeria from 1980 To 2015

Article Fingerprint

ReserarchID

N1ZAJ

An Emperical Analysis of Tax Revenue and Economic Growth in Nigeria from 1980 To 2015 Banner

Key Research Insights

Synthesized scholarly intelligence & interactive research assistant
Access Review Comments
  • English
  • Afrikaans
  • Albanian
  • Amharic
  • Arabic
  • Armenian
  • Azerbaijani
  • Basque
  • Belarusian
  • Bengali
  • Bosnian
  • Bulgarian
  • Catalan
  • Cebuano
  • Chichewa
  • Chinese (Simplified)
  • Chinese (Traditional)
  • Corsican
  • Croatian
  • Czech
  • Danish
  • Dutch
  • Esperanto
  • Estonian
  • Filipino
  • Finnish
  • French
  • Frisian
  • Galician
  • Georgian
  • German
  • Greek
  • Gujarati
  • Haitian Creole
  • Hausa
  • Hawaiian
  • Hebrew
  • Hindi
  • Hmong
  • Hungarian
  • Icelandic
  • Igbo
  • Indonesian
  • Irish
  • Italian
  • Japanese
  • Javanese
  • Kannada
  • Kazakh
  • Khmer
  • Korean
  • Kurdish (Kurmanji)
  • Kyrgyz
  • Lao
  • Latin
  • Latvian
  • Lithuanian
  • Luxembourgish
  • Macedonian
  • Malagasy
  • Malay
  • Malayalam
  • Maltese
  • Maori
  • Marathi
  • Mongolian
  • Myanmar (Burmese)
  • Nepali
  • Norwegian
  • Pashto
  • Persian
  • Polish
  • Portuguese
  • Punjabi
  • Romanian
  • Russian
  • Samoan
  • Scots Gaelic
  • Serbian
  • Sesotho
  • Shona
  • Sindhi
  • Sinhala
  • Slovak
  • Slovenian
  • Somali
  • Spanish
  • Sundanese
  • Swahili
  • Swedish
  • Tajik
  • Tamil
  • Telugu
  • Thai
  • Turkish
  • Ukrainian
  • Urdu
  • Uzbek
  • Vietnamese
  • Welsh
  • Xhosa
  • Yiddish
  • Yoruba
  • Zulu
Reading Preferences
Font Size
Line Spacing
Background
This converted HTML version may contain rendering inconsistencies. Please refer to the PDF for the authoritative version, or click here to provide feedback.

Abstract

The contribution of taxation to any economy globally is so much in terms of quantification and cannot be therefore be ignored as unimportant. It is a source of revenue or income to the government be it the Central, State or Local government in achieving their macro-economic objectives in the areas of fiscal and monetary policies. For Nigerian government to effectively carry out its primary function and other subsidiary functions, she requires adequate funding. Government responsibilities has continued to increase over time especially in developing countries like Nigeria due to the increasing nature and size of her population, and infrastructural deterioration. This study was therefore poised to empirically examine the tax revenue and economic growth in Nigeria from 1980 to 2015 by employing Gross Domestic Product (GDP) as the dependent variable and Petroleum Profit Tax (PPT), Company Income Tax (CIT), and Customs and Excise Duties (CED) as the independent variables. The analysis of the study was carried out using the method of Multiple Regression Analysis. The Ordinary Least Square (OLS) method of econometrics was the main analytical technique that was employed using Econometric software (E-Views 9.0).

References

88 Cites in Article
  1. 1. Ifeanyi Oti,Inumanye Ojule,Sunday Chinenye,Blessing Jaja (2008). EFFECTS OF STRUCTURED EXERCISES AND MUSIC THERAPY ON THE FUNCTIONAL INDEPENDENCE OF STROKE SURVIVORS: A RANDOMIZED CONTROLLED CLINICAL TRIAL. International Journal of Medical Science and Dental Health, 10(12), 67-83.
  2. 2. W Abomaye-Nimenibo (2015). Petroleum Economics. Petroleum Economics
  3. 3. W Abomaye-Nimenibo (2017). The Empirical Determinants of Aggregate Demand and its Effect on the Nigerian Populace. Global Journal of Management and Business Research, E. Marketing, 17(3)
  4. 4. Abomaye Nimenibo,W (2017). The Concept & Practice of Taxation in Nigeria. The Concept & Practice of Taxation in Nigeria
  5. 5. Adam Smith (1776). Adam Smith: The Wealth of Nations Year: 1776. Historic Documents of Industrialism
  6. 6. T Adedeji,C Oboh (2010). An Empirical Analysis of Tax Leakages and Economic Growth in Nigeria. European Journal of Economics, Finance and Administrative Sciences
  7. 7. F Adegbie,Falike (2010). -Customs and Excise Duties Contribution TowardsThe Development and Growth of Nigerian Economy. European Journal of Economics, Finance and Administrative Sciences
  8. 8. S Adereti,M Sanni,J Adesina (2011). Value Added Tax and Economic Growth of Nigeria. European Journal of Humanities and Social Sciences, 10(1)
  9. 9. A Akinola (2001). About Nigeria. About Nigeria, xv-xviii.
  10. 10. B Alli (2009). Managing the Tax Reform Process in Nigeria‖. Niger Account, 42(1), 45-51.
  11. 11. Eje Chinyere,Okolie Jonathan,Ebele Igwemeka (1996). Assessing the Impact of Cashless Banking on Economic Growth in Nigeria. Account and Financial Management Journal, 09(02)
  12. 12. J Anyanwu (1993). Newsom, Sir John, (8 June 1910–23 May 1971), Director, Longman Holdings Ltd and Longman Group Ltd. Newsom, Sir John, (8 June 1910–23 May 1971), Director, Longman Holdings Ltd and Longman Group Ltd
  13. 13. J Anyanwu (1993). Monetary Economics: Theory, Policy and Institutions. Monetary Economics: Theory, Policy and Institutions
  14. 14. John Anyanwu (1997). THE DETERMINANTS OF THE FINANCIAL PERFORMANCE OF A PUBLIC TRANSPORT ENTERPRISE: THE CASE OF THE NIGERIAN RAILWAY CORPORATION, 1960-1991. Annals of the Social Science Academy of Nigeria, 9(1)
  15. 15. O Anyanwu (1997). Efficient tax collection and tax administration in Nigeria. Efficient tax collection and tax administration in Nigeria
  16. 16. E Appah (2004). Principles and Practice of Nigerian Taxation. Principles and Practice of Nigerian Taxation
  17. 17. E Appah (2010). The Problems of Tax Planning and Administration in Nigeria: The Federal and State Governments Experience. International Journal of Labour and Organizational Psychology, 4(1-2), 114.
  18. 18. E Appah,J Oyandonghan (2011). The Challenges of Tax Mobilization and Management in the Nigerian Economy. Journal of Business Administration and Management, 6(2), 128-136.
  19. 19. Jens Arnold,Bert Brys,Christopher Heady,Åsa Johansson,Cyrille Schwellnus,Laura Vartia (2011). Tax Policy for Economic Recovery and Growth. The Economic Journal, 121(550), F59-F80.
  20. 20. Aminu Babalola (2011). Fiscal Policy and Economic Growth Relationship in Nigeria. Fiscal Policy and Economic Growth Relationship in Nigeria
  21. 21. J Azubike (2009). Interpreting European Union tax law: Practice of Polish tax authorities. Tax Management and Tax Evasion
  22. 22. D Bariyima,N Kiabel,Gladson Nwoka (2009). Boosting Revenue Generation by State Governments in Nigeria: The Tax Consultants Option Revisited. European Journal of Social Sciences, 8(4)
  23. 23. H Bhartia (2009). Public Finance. 14th Edn. Public Finance. 14th Edn
  24. 24. N Bonu,Pedro Motau,P (2009). The impact of income tax rates (ITR) on the economic development of Botswana‖. Journal of Accounting and Tax Revenue, 1(1), 8022.
  25. 25. Brian Musaga (1987). Houghton, Brian Thomas, (born 22 Aug. 1931), Director, International Division (formerly International Tax Policy Division), Inland Revenue, 1987–91. Effects of Tax revenue on Economic Growth (Uganda's Experience
  26. 26. Njoku Chibu (2015). Economic research activities. Annual Report, 40, 141-141.
  27. 27. Eric Engen,Jonathan Skinner (1996). TAXATION AND ECONOMIC GROWTH. National Tax Journal, 49(4), 617-642.
  28. 28. Yale Famoyin (1990). The search for growth. Policies for Long Run Growth
  29. 29. A Festus,F Samuel,F (2007). Partnership Income Tax on Social and Economic Development in Nigeria. Research Journal of Finance and Accounting, 22(2)
  30. 30. L Graeme (2003). The negative impact of tax revenue on economic growth. The negative impact of tax revenue on economic growth
  31. 31. D Gujarati (2007). Damodar GUJARATI. Basic Econometrics. McGraw-Hill, 1978. Brazilian Review of Econometrics, 7(1)
  32. 32. D Gujarati (2007). Damodar GUJARATI. Basic Econometrics. McGraw-Hill, 1978. Brazilian Review of Econometrics, 7(1)
  33. 33. F Gyani (1990). Increasing the capital income tax may lead to faster growth. European Economic Journal, 8(22), 103-115.
  34. 34. Ikem (2011). Tax Structure and Economic growth in Nigeria. Tax Structure and Economic growth in Nigeria
  35. 35. Akogo Usiomon,Unuagbon Iyoha (2002). EFFECT OF PUBLIC PERCEPTION ON SUSTAINABLE ACCOUNTING AND CORPORATE PERFORMANCE IN NIGERIA. AKSU Journal of Management Sciences, 9(2), 55-73.
  36. 36. K Jakir (2011). Role of Tax revenue in Economic Development‖, James O. Alabede, ZaimahZainolAriffin and KamilMdIdris, -Individual taxpayers' attitude and compliance behaviour in Nigeria: The moderating role of financial condition and risk preference. Journal of Accounting and Tax Revenue, 3(5), 91-104.
  37. 37. M Jhingan (1995). Development Planning. Introduction to Development Economics
  38. 38. M Jhingan (2004). Money, Banking. Money, Banking
  39. 39. M Jhinghan (2003). Macro-Economic Theory. Macro-Economic Theory
  40. 40. M Jhinghan (2005). Economics of Development and Planning. Economics of Development and Planning, 38
  41. 41. Juselius Johansen (1994). Journals of Econometrics. Journals of Econometrics
  42. 42. M Kayode (1993). Revenue Allocation and the National Q uestion. The National Question in Nigeria, 87-114.
  43. 43. Joseph, Ikechi (2009). Tax Farming As Panacea For Increased Revenue Generation In Nigeria. International Journal of Management and Economics Invention, 08(02)
  44. 44. Abdullahi Usman,,Saidu Halidu,Dombut Fannap (1999). Impact of Tax System Automation on Revenue Generation in Federal Inland Revenue Service (FIRS), Nigeria. International Journal of Multidisciplinary and Innovative Research, 02(05)
  45. 45. Y Margalioth (2003). Tax Competition, Foreign Direct Investment and Growth: Using the Tax System to Promote Developing Countries. Virginia, 23, 161-204.
  46. 46. Gareth Myles (2000). Taxation and Economic Growth. Fiscal Studies, 21(1), 141-168.
  47. 47. S Nzotta (2007). Tax evasion problems in Nigeria: A critique. Niger. Account, 40(2), 40-43.
  48. 48. A Odusola (1995). Tax policy reforms in Nigeria. Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations
  49. 49. G Ogbonna,A Ebimobowei (2011). -Impact of Petroleum Revenue and the Economy of Nigeria. Current research Journal of Economic Theory, 4(2)
  50. 50. G Ogbonna,Ebimobowei (2011). Impact of Tax reforms and Economic Growth in Nigeria. Impact of Tax reforms and Economic Growth in Nigeria
  51. 51. Uwejiyan Juliet,Okolie Fca,Ebiaghan Phd (2011). Tax Compliance Cost, Tax Based Broadening and Tax Revenue in Nigeria. Contemporary Research Analysis Journal, 02(07)
  52. 52. A Ojo (1998). Banking and Finance in Nigeria: Bradford Shiva: Graham Burn 52. Banking and Finance in Nigeria: Bradford Shiva: Graham Burn 52
  53. 53. C Ola (2001). Income Tax Law and Practice in Nigeria. Income Tax Law and Practice in Nigeria
  54. 54. A Olaseyitan,O Sankay (2011). Unknown Title. European Journal of Economics, Finance and Administrative Sciences
  55. 55. O Olashore (1999). Orr, Deborah Jane, (born 23 Sept. 1962), newspaper columnist, The Guardian, since 2009. The Guardian Newspaper
  56. 56. C Olopade,D Olopade (2010). The Impact of Government Expenditure On Economic Growth and Development in Developing Countries: Nigeria as a Case Study. The Impact of Government Expenditure On Economic Growth and Development in Developing Countries: Nigeria as a Case Study
  57. 57. S Omoruyi (1983). Growth and Flexibility of Federal Government Tax Revenue: 1960-1979‖. Economic and Financial Review, 21(1), 11-19.
  58. 58. J Orijh (2001). Unknown Title. Splahmedia Organization, 2
  59. 59. Oyejide (1975). Export and economic growth in Africa countries. Economic International, 2, 177-185.
  60. 60. Nwakaego Momah,Peter Ogbebor,Rufus Akintoye (1997). Interactive Effect of Fiscal Instability and Non-Oil Tax Revenue on Economic Growth in Nigeria. Effect of Fiscal Instability on Economic Growth in Nigeria
  61. 61. Reuven,Yoram Margalioth (2006). Revenue from corporate income tax and personal income tax as a proportion of total tax revenue in some LAC countries, 2014. Revenue from corporate income tax and personal income tax as a proportion of total tax revenue in some LAC countries, 2014
  62. 62. Wilbur Reynolds (1963). Autonomous Firm Dynamics and Economic Growth in the United States, 1986–1990. Regional Studies, 28(4), 429-442.
  63. 63. Robert Funk (1973). The Looting-Glass Tree Is for the Birds. Interpretation: A Journal of Bible and Theology, 27(1), 3-9.
  64. 64. Mehmet Tosun,Sohrab Abizadeh (2005). Economic growth and tax components: an analysis of tax changes in OECD. Applied Economics, 37(19), 2251-2263.
  65. 65. D Umoru,M Anyiwe (1980). Tax Structures and Economic Growth in Nigeria: Disaggregated Empirical Evidence. Research Journal of Finance and Accounting, 4(2), 65-79.
  66. 66. (2003). Editors' Note. Calcutta Statistical Association Bulletin, 54(1-2), 121-122.
  67. 67. S (2015). VZAR: An extension of the VAR model. Models for Dependent Time Series, 191-224.
  68. 68. S Regression (null). Supplementary file 2. (a) Numbers and types of mutations in the core population compared to genetically distinct strains LV9 (MHOM/ET/1967/HU3) and JPCM5 (MCAN/ES/1998/LLM-877), as well as the ISC1/2. N/S ratio denotes the number of nonsynonymous SNPs divided by the synonymous ones. Null Hypothesis: D(CIT) has a unit root Exogenous: Constant Lag Length: 1 (Fixed) t-Statistic Prob.* Augmented Dickey-Fuller test statistic
  69. 69. (0000). Unknown Title. Test critical values
  70. 70. Mackinnon (1996). Figure 11. Correlation of RGS levels with key parameters of cone-cone ON-BC synaptic transmission and behavioral performance under photopic conditions. Figure 11. Correlation of RGS levels with key parameters of cone-cone ON-BC synaptic transmission and behavioral performance under photopic conditions.
  71. 71. R Mean dependent var 25658. Mean dependent var 25658, 39.
  72. 72. (2016). Adjusted R Squared. Adjusted R-squared 0, 756690.
  73. 73. S (2015). VZAR: An extension of the VAR model. Models for Dependent Time Series, 191-224.
  74. 74. S Regression (9616). Supplementary file 1. Supplementary tables. Hypothesis: CED has a unit root Exogenous: Constant Lag Length: 0 (Automatic -based on SIC, maxlag=9) t-Statistic Prob.* Augmented Dickey-Fuller test statistic 0
  75. 75. Mackinnon (1996). one-sided p-values. one-sided p-values
  76. 76. Hui Li,Liang Yuan (2015). A Recursive Least Squares Error Method Aided by Variable-Windowed Short-Time Discrete Fourier Transform for Frequency Tracking in Smart Grid. IEICE Transactions on Fundamentals of Electronics, Communications and Computer Sciences, E98.A(2), 721-734.
  77. 77. R (null). Position-Dependent Diffusion Constant of Molecules in Heterogeneous Systems as Evaluated by the Local Mean Squared Displacement. Mean dependent var 11924, 59.
  78. 78. (2016). Adjusted R Squared. Adjusted R-squared -0
  79. 79. S (null). 41311, 1881-10-12, BEISBARTH (Carl), architecte †. 41311, 1881-10-12, BEISBARTH (Carl), architecte †
  80. 80. S of regression. Akaike info criterion 24.18062 Sum squared resid 5
  81. 81. Schwarz Null Hypothesis: D(CED) has a unit root Exogenous: Constant Lag Length: 0 (Automatic -based on SIC, maxlag=9) t-Statistic Prob.* Augmented Dickey-Fuller test. Null Hypothesis: D(CED) has a unit root Exogenous: Constant Lag Length: 0 (Automatic -based on SIC, maxlag=9) t-Statistic Prob.* Augmented Dickey-Fuller test, 80E-90.
  82. 82. (2002). APPENDIX 12: CRITICAL VALUES OF U AT 0.05 ONE-TAILED LEVEL AND 0.10 TWO-TAILED LEVEL APPENDIX 13: CRITICAL VALUES OF U AT 0.025 ONE-TAILED LEVEL AND 0.05 TWO-TAILED LEVEL. Basic Statistics for Social Research, 296-296.
  83. 83. Mackinnon (1996). one-sided p-values. one-sided p-values
  84. 84. Hui Li,Liang Yuan (2015). A Recursive Least Squares Error Method Aided by Variable-Windowed Short-Time Discrete Fourier Transform for Frequency Tracking in Smart Grid. IEICE Transactions on Fundamentals of Electronics, Communications and Computer Sciences, E98.A(2), 721-734.
  85. 85. R (2016). Adjusted R Squared. Adjusted R-squared 0
  86. 86. S (null). 67773. 67773
  87. 87. S (null). Supplemental Information 3: Results of the time series fitting by sum of squared deviations (SS) and Akaike Information Criterion corrected for small number of observations (AIC <sub>c</sub> ). Supplemental Information 3: Results of the time series fitting by sum of squared deviations (SS) and Akaike Information Criterion corrected for small number of observations (AIC <sub>c</sub> ).
  88. 88. Schwarz Unknown Title.
Show All References
Download References

Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Abomaye-Nimenibo. 2018. "An Emperical Analysis of Tax Revenue and Economic Growth in Nigeria from 1980 To 2015". Global Journal of Human-Social Science - F: Political Science GJHSS-F Volume 18 (GJHSS Volume 18 Issue F3).

More Citation Formats

Download Citation

  • Open Access
  • CC-BY-ND-NC 4.0
Download Article
Access OJS
Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

Keywords
Not Found
Classification
GJHSS-F Classification FOR Code: 910103
  • Submission ReceivedDecember 14, 2017
  • Peer Review Double Blind
    Handling Editor
  • Accepted December 31, 2017
  • Published January 15, 2018
Version of record

v1.2

Issue date
June 30, 2018

Language
English
Order Article Reprint
Experiance in AR

Explore published articles in an immersive Augmented Reality environment. Our platform converts research papers into interactive 3D books, allowing readers to view and interact with content using AR and VR compatible devices.

View in VR
Read in 3D

Your published article is automatically converted into a realistic 3D book. Flip through pages and read research papers in a more engaging and interactive format.

View in 3D
Article Matrices
Total Views: 1.5K
Total Downloads: 130
All Trends

Request Access

Please fill out the form below to request access to this research paper. Your request will be reviewed by the editorial or author team.
X

This is the heading

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

High-quality academic research articles on global topics and journals.

An Emperical Analysis of Tax Revenue and Economic Growth in Nigeria from 1980 To 2015

Abomaye-Nimenibo
Abomaye-Nimenibo OBONG UNIVERSITY
  • Submission ReceivedDecember 14, 2017
  • Peer Review Double Blind
    Handling Editor
  • Accepted December 31, 2017
  • Published January 15, 2018