ABSTRACT

The study examined the effect of petroleum profits tax on economic growth in Nigeria. The objectives includes; To determine the effect of which petroleum profits Tax (PPT) on gross domestic product in Nigeria; To determine the effect of petroleum profits tax (PPT) on total tax revenue in Nigeria, The research designed employed is the ex-post-facto type ofresearch design which guides the researcher in his scientific inquiry, and analysis. Data were sourced using secondary data such as: Annual reports, accounts of the CBN statistical bulletin etc. Analyses of data and testing of hypotheses were done through the aid of statistical tools such as tables, Regression model. The findings shows that:  Petroleum  profit  tax has a significant effect on total  economic  growth  in Nigeria. The study recommends that the government should provide necessary human and material infrastructures that are needed to support petroleum business so they can earn more income that will boost taxation. 

TABLE  OF CONTENTS

CHAPTER ONE: INTRODUCTION

1.1 Background  to the Study 1

1.2 Statement of the Problem 3

1.3 Objectives  of the Study 5

1.4 Research  Questions 5

1.5 Research Hypotheses 6

1.6 Significance  of the Study 6

1.6 Scope of the Study 7

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1        Conceptual  Framework                                                                               8

2.1.1  Concept of petroleum  profit tax                                                                    8

2.1.2    Origin of petroleum                                                                                         10

2.1.3  Structure of oil and gas industries in Nigeria                                               11

2.1.4  Tax as a form of revenue  in aiding the growth of Nigeria's  economy        12

2.1.5  Tax revenue  and federal government  expenditure                                       13

 2.1.6  Legal history of petroleum  profit tax                                                            16

2.1.7  Factors influencing  petroleum profit tax                                                      17 

2.1.8Administration  and collection  of petroleum profit tax in Nigeria              19 

2.1.9  Failures of tax administration  in Nigeria                                                       20

2.1.10 Structure of Nigerian economy                                                                      22

2.1.11 Challenges  hindering  the growth and development  of    Nigeria's  economy                                                                                            23

2.2     Theoretical  Framework                                                                                    30

2.2.1  The faculty theory of taxation                                                                         30

2.2.2  The laffer curve theory                                                                                    31

2.2.3  Harrod domar growth model                                                                           32

2.3     Empirical  Review                                                                                            32

CHAPTERTHREE:METHODOLOGY

3.1 Research Design 38

3.2 Area of the Study 38

3.4 Method  of Data Collection/ Data Sources 38

3.6 Model Specification 39

3.7 Data Analysis  Technique 40

CHAPTER   FOUR:  DATA  PRESENTATION,    ANALYSIS  AND DISCUSSION   OF FINDINGS

4.2       Analysis  of Data                                                                                              42

4.3     Test of Hypotheses                                                                                           50

4.4     Discussion  of Findings                                                                                     52

CHAPTER   FIVE:  SUMMARY   OF FINDINGS,   CONCLUSION    AND RECOMMENDATION

5.1   Summary of Findings                                                                                           54

5. Conclusion                                                                                                             54

5.3 Recommendations                                                                                                 56

  REFERENCES 

LIST OF TABLES