IMPACT OF PETROLEUM SECTOR REVENUE AND ECONOMIC GROWTH

IMPACT OF PETROLEUM SECTOR REVENUE AND ECONOMIC GROWTH

ABSTRACT

The basic reasons for taxation in any economy cater on the need to raise revenue for economic and social development and to guide taxpayer’s behavior. Revenue from taxation accounts for over 80% of government earnings in Nigeria, hence special attention is often paid by tax experts, economists and the larger public on how such revenue is being disbursed by government among the various economic sectors that makes up the country.  This research work was conducted to investigate the impact of the petroleum sector revenue on the economic growth performance of Nigeria. In the process of the research, the ordinary least square (OLS) regression technique was employed. Considering the impact of time on changes in economic variables, the analysis was carried out using the simple regression method in which Gross Domestic Product (GDP), proxy for economic growth was used as the dependent variable, while the petroleum sector revenue (OREV) and time appeared as repressor’s. A two-tailed test of 5% significant levels were conducted indicating that the two explanatory variables did not have any significant impact on growth performance of the Nigerian economy within the same period. The researcher therefore recommends that government should formulate appropriate policy mix that would motivate the firm in the oil sector to enhance improved performance and contribution of the sector.

BUY THIS TOPIC ON WHATSAPP

Related Project Materials

BACKGROUND OF THE STUDY

Prior to 1993, only very little was known of Value Added Tax (VAT) in Nigeria....

BACKGROUND OF THE STUDY

In the world today, transportation which is the conveyance of goods and passeng...

ABSTRACT

The study examined smartphone usage and social interaction among students of the faculty of social sciences, Delta State Univers...

ABSTRACT

The broad objective of the study  objective of this study is to the impact of sta...