Influence of Taxation on the Nigerian Economic Growth

The constant collapse of the Nigerian economy due to inadequate finance on the side of government calls for the urgent attention of researchers. The aim of this study is to examine the influence of taxation on the Nigerian economic growth. To achieve these objectives, the correlational research design was adopted, the study covers a period of 14 years (2011- 2024). The study utilized secondary data for analysis. The secondary data were extracted from CBN statistical Bulletin and FIRS for the period under study. Ordinary least square (OLS) regression method was used for the study as the statistical method for analyzing the data. STATA version14.2 statistical software was utilized. The results show that PPT and CGT has a negative and insignificant impact on Nigerian economic growth, while CIT has a positive and significant impact on GDP. Based on the findings of this study, the researchers recommended that to boost economic growth in Nigeria, government should pay more attention on revenues generated from PPT, CGT, and CIT. Government should also ensure the tax revenue generated from PPT, CGT and CIT be improved upon so that the revenues can be used in providing infrastructure for the citizens; government should use tax policy more as a macroeconomic policy not just as a tool for revenue generation as this will result to long run sustainable economic growth and tax revenue generation.