ASSESSMENT OF VALUE ADDED TAX (VAT) AND SUSTAINABLE REVENUE GENERATION IN NIGERIA (2014-2024)

The objective of this study is to determine the extent to which value added tax has affected the Nigerian economy. qualitative research design was adopted for this study. Primary data method was adopted in obtaining data on value added tax, gross domestic product, per capital income and total revenue. These data were obtained from questionnaire administered, Federal Inland Revenue Services federal ministry of finance, and journals. The data obtained were analyzed using Simple chi-square analysis. Findings shows that value added tax has not significantly affected Gross Domestic Product of Nigeria economy. It was also discovered that VAT has a negative relationship with per capital income. Finally, we found that VAT has a positive relationship with total revenue generation of Federal government of Nigeria. The implication of these findings is that Nigerian economy will experience slow development in spite that VAT has a positive effect on revenue generation. Based on these findings, the researcher recommends that Nigerian government should put in place fiscal policies that will enhance investment in agriculture, industries and technology which will stimulate overall productivity growth. Key words: Assessment, Value Added Tax, Input VAT, Output VAT, Sustainability.