TOPIC: TAX REVENUE AND NIGERIA ECONOMIC GROWTH

Abstract: ABSTRACT This study examined the effect of tax revenue on economic growth of Nigeria. This study adopted the ex-post facto research design to gather data from selected companies. The population for this study comprised of all the sources of revenue generated by the Federal Government of Nigeria through the Federal Inland Revenue Service (FIRS). The source of data collection for this study was gathered through the official website of Federal Inland Revenue Services (FIRS) for the period of eight years (10) 2014-2023. The secondary data were analyzed through the use of least square (OLS) method and Pearson Correlation coefficient was used to determine the relationship between the variables and also used to test the hypotheses. The result of hypothesis one shows Education Tax has a positive effect on gross national product (GDP), having a coefficient of 0.000426. The result of hypothesis two shows petroleum profit tax has a positive effect on gross domestic product (GDP), having a coefficient of 0.807128. In hypothesis three, findings reveal that custom and excise duty has a positive effect on custom and excise duty (CEXD), having a coefficient of 0.807128. Based on the findings of this study, it was concluded that tax revenue has a significant effect on economic growth in Nigeria. Hence, the study recommends that government should seriously work towards diversifying the revenue base of the economy as the reduction in the price of crude oil at the international market that adversely affect income from petroleum profit tax. Keywords: tax revenue, Nigeria economy, Education Tax, Petroleum Profit Tax, Custom and Excise Duty and Gross Domestic Product. Words Counts: 250 Words