THE IMPACT OF TAX REVENUE ON ECONOMIC DEVELOPMENT IN NIGERIA.

ABSTRACT

This study examined the impact of tax revenue on economic development in Nigeria. It utilized annual time series data from 1980 to 2015. Data for this study were source from Central Bank of Nigeria (CBN) publications. The study employed the ordinary least squares (OLS) regression technique in the estimation of the specified equation. The result showed that tax revenue has positive impact on economic development in Nigeria during the period under review. Specifically, the result showed that petroleum profit tax revenue, corporate tax revenue, and custom and excise duty tax revenue have positive impact on economic development in Nigeria. In real term, a one percent increase in petroleum profit tax revenue, corporate tax revenue, and custom and excise duty tax revenue led to an increase in economic development by 0.26 percent, 6.16 percent, and 0.02 percent, respectively. The study recommends that efficient tax policy should be formulated and implemented so as to continue to generate the needed revenue for the government. Also revenue collecting authorities of the government should be made more effective in their operations of collecting revenue for the government. 

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION

1.1     Background to the study

1.2     Statement of the problem

1.3     Objectives of the study

1.4     Research hypotheses

1.5     Significance of the study

1.6     Scope of the study

1.7     Organization of the study

CHAPTER TWO  

LITERATURE REVIEW AND THEORETICAL FRAMEWORK

2.1     Conceptual issues

2.1.1   Concept of tax and tax revenue

2.1.2   Concept of economic development

2.2     Empirical literature

2.3     Theoretical review

2.3.1   Diffusion Theory of taxation

2.3.2   Benefit theory of taxation

2.3.3   Ability to Pay Theory

2.3.4   Rostow’s stages of growth model of development

2.3.5   The big push development model 

2.3.6   The Lewis Theory of Development

2.4     Tax Administration in Nigeria

2.5     Problems of Tax Administration

CHAPTER THREE 

RESEARCH METHODOLOGY

3.1     Introduction

3.2     Research design

3.3     Model specification

3.4     Estimation technique

3.5     Criteria for data analysis

3.6     Data sources

3.7     Limitation of the study

CHAPTER FOUR 

DATA PRESENTATION ANALYSIS AND DISCUSSION OF FINDINGS

4.1     Data presentation

4.2     Presentation of result

4.3     Analysis of result

4.4     Test of hypotheses

4.5     Discussion of findings 

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1     Summary of findings

5.2     Conclusion

5.3     Policy recommendation

          REFERENCES

          APPENDIX

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