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ABSTRACT
Taxation has long been a primary source of government revenue, particularly in Nigeria. However, the country's economic growth has not aligned with the increase in tax revenue. This study aims to investigate the effect of tax revenue on Nigeria's economic growth. Utilizing an ex post facto research design, the study analyzed annual time series data from 1994 to 2020. The estimation was conducted using the Ordinary Least Squares Multiple Regression model.
The results indicated that value-added tax positively and significantly influences Nigeria's economic growth, company income tax negatively and significantly impacts economic growth, and petroleum profit tax has a positive but weak effect on economic growth. The study recommends that the Nigerian government adopt good governance practices and ensure a transparent tax system to enhance tax revenue and foster economic growth in the country.
