Impact Of Company Income Tax On Manufacturing Sector Development Output In Nigeria: Opara Chrysogonus C.

ABSTRACT

This study empirically investigated « the co o ntribution of Micro Finance Banks on Capital '? ✓ ·ormation in Ni : 'ime series data from 1992 to 2018. The study utilized Muluple fs Linear Regression analysis, Augmente hickey Fuller (ADF) Test for unit root, Johansen J Cointegration Methods and other stability tests. The result of the cointegration test showed the presence of cointegrating series and hence, an error correction model was used. The results of the Error Correction Model showed that there is a long run relationship between capital formation and micro finance banks in Nigeria such that 62. 5% of the disequilibrium is adjusted in the long run. With the independent variables MBIP, PDS, MFBL and the dependent variable Gross Fixed Capital Formation (GFCF), it is revealed the there is a positive relationship between the variables except for MBTBD which had a negative relationship with the dependent variable. The policy implication of this is that measures that promote continuous existence and operation of Micro finance banks in Nigeria will lead to increased capital formation.