TAXATION AS A MAJOR SOURCE OF FINANCING FEDERAL GOVERNMENT EXPENDITURE IN NIGERIA.

ABSTRACT

The study examined taxation as a major source of financing federal government expenditures in Nigeria. Four (4) research questions were raised for the study and all were formulated into hypotheses and tested. Consequently, related literature on the conceptual review, theoretical framework and empirical review on the independent variables (Petroleum Profit Tax, Company Income Tax, Value Added Tax, and Capital Gain Tax) and the dependent variable (Government Expenditures) were also discussed adequately in chapter two. The ex-post facto research design was used for the study. The instrument used for the collection of data was an Inventory Records of Generated Tax Revenue. Secondary data were obtained from both the Country Economy Website and Federal Inland Revenue Service annual reports from 2012 - 2022. The data collected for the research questions were analyzed using descriptive statistical tools such as mean and standard deviation while the hypotheses were analyzed using Pearson Correlation and Ordinary Least Square Regressions and was tested at 0.05 level of significance.