Moderating Role of Financial Development on the Relationship Between Tax Revenue and Economic Development of Nigeria (Published)
This study examined the moderating role of financial development on relationship between direct tax revenue and economic development in Nigeria. The specific objectives were to investigate the relationship between personal income tax, company income tax and petroleum profit tax on human development index and per capita income and the moderating effect of financial development on direct taxes and economic development of Nigeria. The study anchored on benefit theory of taxation while correlational and ex-post facto research designs were adopted for the study. The population of the study was direct taxes revenue data and economic development in Nigeria from 1991 to 2020 and secondary data were sourced from Annual statistical bulletin of CBN, Federal Inland Revenue service (FIRS) and National Bureau of Statistics. The secondary data were analysed using univariate, bivariate and multivariate analysis. The result of the multiple regression shows that personal income tax, company income tax and petroleum profit tax positively and significantly influence economic development in Nigeria. Also, financial development positively and significantly moderates the relationship between direct taxes and economic development. Consequently, the study concludes that the level of financial development affects the revenue generation potentials through direct taxes for the economic development of Nigeria. Hence, the study recommends among others that government parastatals, multinationals, conglomerates and companies in the country should not engage any vendor who does not have a TIN number. This will go a long way in reducing tax evasion; taxes should be remitted via an e-payment system or via direct payment to the various tax authorities’ accounts.
The study examined the interaction of public sector expenditure and economic development from 1999 – 2015. The specific objective was to assess the extent to which GDP affects EDU, HLT, DFS, AGR and PDS. Secondary data employed were from the CBN bulletin published in 2016. Multiple regression analysis and t-test were the statistical tools applied, with the use of SPSS for both data analysis and to test the hypotheses formulated for the study at 5% level of significance. The result revealed that GDP does not significantly affect EDU, HLT and AGR and as a result they do not have impact on economic growth. On the contrary, GDP significantly affects the DFS and PDS which do not have effect on economic development. The result shows that government spending on defense, security and public debt servicing has not brought about economic development. Therefore, there is need for change of orientation. The government should concentrate on investing in provision of proper education and adequate health facilities for the citizenry. More attention should also be given to agriculture for the purpose of sufficient food supply. All these measures could provide solution to insurgency and militancy which the government has spent so much to no avail.
Exports-Led Industrialisation and Development through National Re-Branding and Best Practices: A Comparative Study of Botswana and Zimbabwean Economies (Published)
The purpose of this study was to look at the challenges facing Zimbabwe’s economy compared to Botswana and determine re-branding strategies Zimbabwe can adopt to portray a positive image. Case studies of countries whose economies miraculously recovered were given, they include countries like Korea, China, Japan, Taiwan and Malaysia. Document reviews and in-depth literature review were used to collect data. The findings of the study revealed challenges related to policy issues, corruption, relations with western countries over the land reform programme, corporate governance issues, and macroeconomic fundamentals such as government spending priorities, the country’s credit rating, judicial independence, and property rights. These were some of the factors that contributed to the meltdown of the Zimbabwean economy. The study recommended that Zimbabwe needs to re-establish relations with the west, ensure independence of the judiciary system, ensure property rights to attract foreign investment, improve corporate governance issues, and monitor its macroeconomic fundamentals.