EFFECT OF TAXATION ON ECONOMICS GROWTH AND DEVELOPMENT IN NIGERIA ECONOMY (1982-2020)
Abstract
ABSTRACT
The study examines the effect of taxation on economics growth and development in nigeria economy (1982-2020)Income from petroleum taxes is the proxy for PPT while economic development was measured using Unemployment Rate, Gross Domestic Product (GDP, Gross National Products (GNP) and Per Capita Income (PCI). The research adopted expos-facto research as secondary data were used for the analysis. Data were sourced from the Central Bank of Nigeria Statistical Bulletin and the Federal Inland Revenue Service. The study covered nineteen year period (2003-2022). Time series data were analyzed using the correlation statistic and Student‘t’ distribution. The result reveals among others that PPT had positive and significant effect on the economic development of Nigeria. The study recommends among others that the government should provide the necessary human and material infrastructures that are needed to support petroleum business so they can earn more income that will boost taxation.
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