An Examination of the Use of Blockchain Technology in Nigerian Government Accounting: A Study of Tax Revenue Collection
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Background of the Study
Blockchain technology has emerged as a revolutionary tool for enhancing transparency, efficiency, and security in various sectors, including government accounting. Its decentralized ledger system ensures immutability and real-time access to financial transactions, making it a valuable asset for tax revenue collection (World Bank, 2024). In Nigeria, the tax revenue system is plagued by issues such as fraud, inefficiencies, and lack of transparency, which undermine public trust and reduce government revenues (Okafor & Adeyemi, 2023).
The application of blockchain technology in tax revenue collection holds significant promise for addressing these challenges. By providing a transparent and tamper-proof ledger, blockchain can improve accountability, reduce tax evasion, and enhance operational efficiency. This study explores the use of blockchain technology in Nigerian government accounting, with a focus on its impact on tax revenue collection.
Statement of the Problem
The Nigerian tax system is characterized by inefficiencies, lack of transparency, and significant revenue losses due to tax evasion and fraud. Traditional methods of tax collection have proven inadequate in addressing these challenges, necessitating the exploration of innovative solutions like blockchain technology. However, the adoption of blockchain in government accounting is still in its infancy, with limited studies evaluating its effectiveness in the Nigerian context (Ibrahim & Nwankwo, 2025).
This study investigates the potential of blockchain technology to improve tax revenue collection in Nigeria, examining its successes, challenges, and future prospects.
Objectives of the Study
- To assess the current state of blockchain technology adoption in Nigerian tax revenue collection.
- To evaluate the impact of blockchain technology on transparency and efficiency in tax revenue collection.
- To identify challenges and propose strategies for integrating blockchain technology into Nigerian government accounting systems.
Research Questions
- What is the current state of blockchain technology adoption in Nigerian tax revenue collection?
- How has blockchain technology impacted transparency and efficiency in tax revenue collection?
- What challenges hinder the integration of blockchain technology into Nigerian government accounting systems?
Research Hypotheses
- Blockchain technology significantly enhances transparency in Nigerian tax revenue collection.
- The adoption of blockchain technology improves efficiency in tax revenue collection.
- Challenges such as infrastructure gaps and resistance to change hinder blockchain integration in Nigerian government accounting systems.
Scope and Limitations of the Study
The study focuses on the use of blockchain technology in tax revenue collection in Nigeria, specifically within government accounting systems. Limitations include limited access to blockchain implementation data and resistance from stakeholders unwilling to share sensitive information.
Definitions of Terms
- Blockchain Technology: A decentralized digital ledger that records transactions across multiple systems in a secure and tamper-proof manner.
- Government Accounting: The management of public financial resources to ensure transparency and accountability.
Tax Revenue Collection: The process of gathering taxes from individuals and organizations to fund government activities.
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