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Tax Policy and its Influence on Nigeria’s Economic Growth

Author

Listed:
  • Adebayo Adesodun Isaac.

    (Federal University, Oye Ekiti)

  • Owoniya Babajide Olumuyiwa.

    (Federal University, Oye Ekiti)

  • Bamisaye Theresa Omolade

    (Federal University, Oye Ekiti)

  • Olatunji Akindele Victor

    (Federal Polytechnic, Ado-Ekiti)

  • Dada Adekola Rapheal

    (Ekiti State University, Ado-Ekiti)

Abstract

Occasion by the Government policies on revenue generation, this study examined the influence of tax policy on Nigeria’s economic growth using panel data regression analysis. We make use of secondary data source from the National Bureau of Statistics of Nigeria. The findings indicate that both VAT and TOP exert a negative impact on economic growth, with VAT being significant. On the other hand, PPT and CIT positively influence economic growth, with only PPT showing significance. The R-square values suggest that the predictor variables explain a substantial portion of the systematic variation in economic growth.

Suggested Citation

  • Adebayo Adesodun Isaac. & Owoniya Babajide Olumuyiwa. & Bamisaye Theresa Omolade & Olatunji Akindele Victor & Dada Adekola Rapheal, 2024. "Tax Policy and its Influence on Nigeria’s Economic Growth," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(10), pages 1697-1709, October.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:10:p:1697-1709
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    References listed on IDEAS

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    4. International Monetary Fund, 2019. "Nigeria: Selected Issues," IMF Staff Country Reports 2019/093, International Monetary Fund.
    5. Richard M. Bird & Eric M. Zolt, 2005. "Redistribution via Taxation: The Limited Role of the Personal Income Tax in Developing Countries (2005)," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0507, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
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