INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016
Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI)
The main objective of the study is to examine the effect of oil and non-oil tax revenue on the growth of the Nigerian economy. The study specially investigated the effect of petroleum profit tax revenue and non-oil tax revenue on Gross Domestic Product at current market prices, which was used as the dependent variable. The study adopted an ex post facto research design. Annual time series data were obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin and the Federal Inland Revenue Service (FIRS), from 2011 to 2021. The data were analysed using the Ordinary Least Squares (OLS) technique. The results showed that petroleum profit tax revenue had a non-significant negative effect on Gross Domestic Product; while the effect of non-oil tax revenue was positive and significant at .05. Based on the findings, the study recommended that diversification of the economy from its monolithic focus on oil revenue would help deal with the volatility in crude oil prices. There should be an improved infrastructural and technology base, to attract foreign investors and boost the country’s Gross Domestic Product.
Keywords:
Effect Of Oil And Non-Oil Tax Revenue On The Growth Of The Nigerian Economy.
Cite Article:
"Effect Of Oil And Non-Oil Tax Revenue On The Growth Of The Nigerian Economy.", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.7, Issue 9, page no.1457-1465, September-2022, Available :http://www.ijnrd.org/papers/IJNRD2209171.pdf
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ISSN:
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
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