Effect Of Petroleum Profit Tax On Economic Growth In Nigeria:- Johnson, Erifen O.
ABSTRACT
The study
evaluated the effect of Petroleum profit tax (PPT) on economic growth of
Nigeria. The ex post facto research
design was adopted; annual secondary time series data was utilized and was
sourced from the Central Bank of Nigeria Statistical Bulletin and Central Bank
of Nigeria Annual Report. Simple regression analysis was used in analyzing the
data collected. Finding from the study
revealed that Petroleum profit tax has a positive and significant effect on gross
domestic product in Nigeria. Petroleum profit tax has a positive and
significant effect on total tax revenue in Nigeria. Based on the findings of
the study, it recommends amongst other things that the government should ensure
that oil companies pay up their taxes so as to increase the amount of PPT by
providing some tax relief to encourage prompt payment. Federal Inland Revenue
service should ensure proper collection and accounting of PPT to avoid
leakages.
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ERIFEN, O (2024). Effect Of Petroleum Profit Tax On Economic Growth In Nigeria:- Johnson, Erifen O.. Repository.mouau.edu.ng: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-in-nigeria-johnson-erifen-o-7-2
ODUDU, ERIFEN. "Effect Of Petroleum Profit Tax On Economic Growth In Nigeria:- Johnson, Erifen O." Repository.mouau.edu.ng. Repository.mouau.edu.ng, 07 Mar. 2024, https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-in-nigeria-johnson-erifen-o-7-2. Accessed 24 Nov. 2024.
ODUDU, ERIFEN. "Effect Of Petroleum Profit Tax On Economic Growth In Nigeria:- Johnson, Erifen O.". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 07 Mar. 2024. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-in-nigeria-johnson-erifen-o-7-2 >.
ODUDU, ERIFEN. "Effect Of Petroleum Profit Tax On Economic Growth In Nigeria:- Johnson, Erifen O." Repository.mouau.edu.ng (2024). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-petroleum-profit-tax-on-economic-growth-in-nigeria-johnson-erifen-o-7-2