TAX REVENUE, OIL PRICE VOLATILITY AND ECONOMIC GROWTH EXPERIENCE IN NIGERIA

₦ 5,000.00
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ABSTRACT

Nigeria is heavily dependents on oil revenue and tax revenue for her economic sustainability, however, there is fluctuations in her oil revenues and has a relatively low tax-to- GDP ratios among the lomity of countries in the Africa continent, hence, this study is poised to examine the interrelationships among tax revenue, oil price fluctuations and economic growth in Nigeria from the period of 1981 to 2022 using the Vector Error Correction Models (VECM). The Study revealed that there are dynamic interactions among the key macroeconomic variables.(like tax revenue, oil price fluctuations, exchange rate, economic growth etc) employed for this study as shown by the forecast error variance decomposition and the impulse response functions. Arising from the aforementioned, the study recommend that Nigeria government should established an enhanced institutional and political environment to allow for sustainable growth and development in the face of failing revenues.

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