ABSTRACT
The study investigated effect of petroleum profit tax on economic growth of Nigeria with specific objectives to ascertain the effect of petroleum profit tax on real gross domestic product and total federal revenue.ItcollectedsecondarydatafromCentralBankofNigeria statistical bulletin 2016 and various Federal Inland Revenue Service reports. The study adopted expost facto research design and extracted data such as petroleum profit tax revenue, oil revenue, total federal revenue and real gross domestic product from1999 to2016soasto ascertain the effect of the revenue during the present political dispensation. The augmented Dickey-Fuller unit root test conducted revealed that all the variables are integrated at first difference and therefore adopted the ordinary least-squares based multiple regression analysis to determine the relationship of the variables. The study found that petroleum profit tax has negative significant relationship with real gross domestic product of Nigeria while oil revenue has positive significant relationship with real grossdomesticproductofNigeria. It was established that petroleum profit tax has a significant effect on economic growth of Nigeria. It therefore recommends that Government should ensure that revenues from petroleum profit tax are effectively utilized to programmes that would enhance growth of the economy, there should be expenditure policies that would ensure value for the money expended on programmes and policymakers on taxes should initiate and implement a mechanism that would curtail loopholes in revenue collected from petroleum profit tax in order to boost revenue generated from that source.
TABLE OF CONTENTS
Title Page
Dedication
Declaration
Certification
Acknowledgements
Table of Contents
List of Tables
Abstract
CHAPTER ONE: INTRODUCTION
1.1.Background to the Study 1
1.2.Statement of the Problem 4
1.3.Objectives of the Study5
1.4Research Questions 5
1.5.Research Hypotheses6
1.6Significance of the Study 6
1.7Scope of the Study7
1.8Limitation of the Study 7
1.9Definition of Terms7
CHAPTERTWO:REVIEWOFRELATEDLITERATURE
2.1Conceptual Framework 9
2.1.1.The ObjectivesofPetroleumProfitTaxinNigeria 12
2.1.2.PetroleumProfitTaxinNigeria 14
2.1.3.EffectofPetroleumProfitTaxonEconomicGrowthofNigeria19
2.1.4.ContributionsofPetroleumIndustrytoGrowth oftheNigerianEconomy 21
2.2.TheoreticalFramework22
2.2.1.SocioPolitical Theory 22
2.2.2.ExpediencyTheory 23
2.2.3.BenefitReceivedTheory 23
2.2.4.Costof ServiceTheory 24
2.2.5.Faculty Theory 25
2.3.Empirical Review 25
CHAPTER THREE:RESEARCH METHODOLOGY
3.1ResearchDesign 35
3.2ResearchArea 35
3.3Sourceofdataandmethodofdatacollection 36
3.5DataAnalysis Techniques 36
3.4.ModelSpecification 37
CHAPTERFOUR:DATAPRESENTATIONANDDISCUSSIONOF
RESULTS
4.1.PresentationofData 39
4.2.AnalysisandDiscussionofResults 41
4.2.1.StationarityTestontheVariables 41
4.2.2.DescriptiveAnalysisandDiscussion 43
4.2.3.AnalysisandDiscussionontheEffectofPetroleumProfitTaxon RealGross DomesticProduct 46
4.2.4.AnalysisandDiscussionontheEffectofPetroleumProfitTaxon
TotalFederalRevenue 49
4.3.HypothesesTesting51
4.3.1.TestofHypothesisOne51
4.3.2.TestofHypothesisTwo 51
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1.SummaryofFindings 53
5.2.Conclusion 54
5.3.Recommendations 56
References
Appendix
JOHN, E (2021). Effect Of Petroleum Profit Tax On Economic Growth Of Nigeria.. Mouau.afribary.org: Retrieved Oct 30, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-of-nigeria-7-2
EZINNE, JOHN. "Effect Of Petroleum Profit Tax On Economic Growth Of Nigeria." Mouau.afribary.org. Mouau.afribary.org, 16 Feb. 2021, https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-of-nigeria-7-2. Accessed 30 Oct. 2024.
EZINNE, JOHN. "Effect Of Petroleum Profit Tax On Economic Growth Of Nigeria.". Mouau.afribary.org, Mouau.afribary.org, 16 Feb. 2021. Web. 30 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-of-nigeria-7-2 >.
EZINNE, JOHN. "Effect Of Petroleum Profit Tax On Economic Growth Of Nigeria." Mouau.afribary.org (2021). Accessed 30 Oct. 2024. https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-of-nigeria-7-2