NON-OIL TAX REVENUE AND ECONOMIC GROWTH IN NIGERIA

Abstract

The relationship between non-oil tax revenue and Nigerian economic growth is examined in this paper. The research looked at the relationship between value-added tax, personal income tax, and corporate income tax and economic growth as measured by Gross Domestic Product (GDP). Expost facto was the study design. The study's data was collected during a 22-year period, from 1999 to 2020 from the Central Bank of Nigeria (CBN) Statistical Bulletins, CBN Economic Reports, and Federal Inland Revenue Service (FIRS) tax statistics. Ordinary Least Square (OLS) regression was used in the analysis of data. The findings revealed that non-oil tax income, as measured by VAT, PIT, and CIT, had a substantial association with GDP. The study recommends that the government of Nigeria should ensure that all revenue collected, particularly through VAT, PIT, and CIT, is properly utilized in providing the basic amenities required for smooth operation of the economy, which will result in increased output and GDP