ABSTRACT
The main aim of study is to examine
the effect of petroleum profit tax on economic growth in Nigeria. The problems
with Nigerian economy have been traced to failure of successive governments to
utilize oil revenue and excess crude oil income in the development of other
sectors of the economy effectively and efficiently. The ex-post facto research
design was adopted and data collected from secondary sources. The collected
data was analyzed using ordinary least square technique. The result revealed
that actual petroleum profit tax has sign fricant effect on economic growth.
The result also revealed that, budgeted petroleum profit tax has a signflcant
effect on economic growth. There is a good relationship between the dependent
variable GDP and independent variable petroleum profit tax. Finally, there is a
sign /Icant relationship between petroleum profit tax and total revenue in
Nigeria. Conclusively, based on the findings of the study, PPT has a positive
impact on growth after a considerable lag. All the variables are statistically
significant. The countries that performed PPT have a more per capita GDP level
and are less dependent on the international trade. It is recommended that
government should transparently and judiciously account for the revenue it
generates through PPT by investing in the provision of infrastructure and
public goods and services. It is expected that the more effectively and
efficiently revenue is utilized by Government to create growth, employment
opportunities and wealth in the economy, the more willing taxpayers would be to
meet their obligations to the Government and discharge their duties in the
overriding goal of achieving National Development. Finally, for the PPT policy
to have a more significant impact on the revenue and economic development of
Nigeria, Government should minimize or find ways of eliminating totally the
widespread corruption and leakages in the petroleum profit tax administration.
JOSHUA, C (2021). Effect Of Petroleum Profit Tax On Economic Growth In Nigeria 2012-2017 . Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-in-nigeria-2012-2017-7-2
CHIBUEZE, JOSHUA. "Effect Of Petroleum Profit Tax On Economic Growth In Nigeria 2012-2017 " Mouau.afribary.org. Mouau.afribary.org, 15 Jul. 2021, https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-in-nigeria-2012-2017-7-2. Accessed 01 Nov. 2024.
CHIBUEZE, JOSHUA. "Effect Of Petroleum Profit Tax On Economic Growth In Nigeria 2012-2017 ". Mouau.afribary.org, Mouau.afribary.org, 15 Jul. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-in-nigeria-2012-2017-7-2 >.
CHIBUEZE, JOSHUA. "Effect Of Petroleum Profit Tax On Economic Growth In Nigeria 2012-2017 " Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-in-nigeria-2012-2017-7-2