Effect of Tax Revenue Generation on Economic Growth in Nigeria (Published)
Citation: Confidence Joel Ihenyen and Tovie Annabel Stephen Ogbise (2022) Effect of Tax Revenue Generation on Economic Growth in Nigeria, International Journal of Business and Management Review, Vol.10, No.2, pp.44-53
Abstract: The contribution of taxation to all economies around the world cannot be exaggerated. Apart from the revenue function it performs for the government, it is also used to help the country achieve its macroeconomic goals in the areas of fiscal and monetary policy. While a significant portion of Nigeria’s income comes from taxes, it has long been observed that the role of taxation in stimulating economic activity and growth remains unrecognized especially in the area of infrastructure and basic equipment. Earlier documents have shown that tax revenues in developed countries have a significant impact on economic growth, which is clearly reflected in the services provided by these countries. Therefore, the main purpose of this study is to investigate the relationship between Nigerian tax revenues and economic growth in Nigeria. Multiple linear regression analysis was used to analyze the data using the Microsoft Excel package. As a result, petroleum profit tax, company income tax and value added tax have a positive impact on Nigeria’s economic growth, while custom excise and duties have a negative impact, but overall, between tax revenue and Nigeria’s economic growth, there is a significant correlation. The use of generated tax revenue is a serious concern, requires special attention of policy makers, taxpayer violations of tax law are obstacles, and inefficient tax administration is a sufficient loophole for tax evasion. As a result, income is reduced. In particular, the Tax Administration is only responsible for qualified professionals and trusted persons, and it is advisable to thoroughly educate the importance of taxes for the entire population.
Keywords: : Generation, Economic, Growth, Revenue, Tax
Impact of Primary Mortgage Institutions’ Investments on Economic Growth in Nigeria (1995-2017) (Published)
The study examined the impact of primary mortgage institutions’ investments on economic growth in Nigeria; for the period 1995-2017. Secondary data were used and collected from Central Bank of Nigeria Statistical Bulletin. The study employed Gross Domestic Product as proxy for Economic Growth and used as the dependent variable; whereas, Primary Mortgage Institutions Investment, Primary Mortgage Institution Deposit, Primary Mortgage Institutions’ Loan and used as the explanatory variables. Hypotheses were formulated and tested using Ordinary Least Square econometrics techniques. Primary mortgage institutions’ investments had asignificant impact on Gross Domestic Product in Nigeria. Primary mortgage institutions’ deposithad a significant impact on Gross Domestic Product in Nigeria. Primary mortgage institutions’ loan had a significant impact on Gross Domestic Product in Nigeria. The coefficient of determination indicated that about 68% of the variations in economic growth can be explained by changes in primary mortgage institutions’ investments variables in Nigeria.The study concluded that primary mortgage institutions’investments had a significant impact on economic growth in Nigeria.The study recommended that the Federal Mortgage Bank of Nigeria should relax some of the regulations guiding the operations of the PMIs and liberalize the subsector for more effective performance. The primary mortgage institutions should redirect major parts of their loan able funds to building and renovation of residential buildings instead of concentrating on commercial buildings and neglecting residential properties. Such redirection is expected to increase their impact on provision of housing and enhance their contributions to real estate development in Nigerian economy. Allocation under the Land Use Act of 1978 that has made land acquisition more difficult should be readdressed. The delay in getting Certificate of Occupancy is a major problem. Government should review or repeal the Act to enable easy land acquisition by individuals.
Keywords: Economic, Growth, Institutions, Investments, Nigeria, Primary Mortgage
Arrangement of Human Resources to the Strengthening Of the Economy on the Businessemen of Micro, Small and Medium Enterprises (Msmes) In Makassar, Indonesia (Published)
Hernita. Arrangement of human resources to the strengthening of the economy in SMEs in Makassar, Indonesia. Type of qualitative research using Phenomenology approach. Source of data in this study include: 1) Primary Data Sources, 2) Secondary Data Sources. This research instrument is the researchers themselves, in which the researcher as an instrument to obtain accurate data supplied by a variety of methods. Reality in Makassar prove that there is a tendency not balance between providing qualified human resources with rate changes. It is then result in distortions between energy needs with expertise, skills and competency are not able to put up certain of educational institutions on the level of human resource needs in the community. Whereas compliance with those requirements should be obtained from outside the existing educational institutions. A drastic change from the New Order became the order of the reform should be the basic foundation for reorienting education must reset the system and the pattern of implementation of national education
Keywords: Businesmen, Economic, Human Resources, Performance, Swot Analysis