A RELATIVE ASSESSMENT OF THE CONTRIBUTIONS OF AGRICULTURE, OIL AND NON-OIL TAX REVENUES TO NIGERIA’S ECONOMIC EXPANSION
Journal Title: Analele Universităţii Spiru Haret, Seria Economie - Year 2019, Vol 19, Issue 2
Abstract
The decline in oil prices globally has led to diversification of economy in most oil enriched countries. In Nigeria, more attention is given to agriculture and non-tax revenue sources to ensure that the country overcomes a mono-economy syndrome which has affected the nation in the past. This study assesses the contributions of agriculture, oil and non-oil tax revenue to economic expansion in Nigeria using data that cover a period from 1981 to 2017. The regression results indicate that oil revenue has a significant negative impact on economic growth which is represented by gross domestic product. On the contrary, the study finds evidence that agriculture and non-oil tax revenue have a robust significant and positive influence on economic growth. Therefore, the study suggests that tax administration in Nigeria should be more business-growth conscious and that agriculture should be given a boost by creating an enabling environment that could attract foreign direct investments in the agricultural sector. The study also recommends that oil revenues should be utilized for reinvestments into other sectors of the economy.
Authors and Affiliations
Cordelia Onyinyechi Omodero
Keywords
Related Articles
- EP ID EP592821
- DOI 10.26458/1927
- Views 40
- Downloads 0
ASPECTS CONCERNING THE COMPETITION OF BUSINESS OPERATORS IN THE CONTEMPORARY BUSINESS ENVIRONMENT
The competitive, ethical and legal attitude is a powerful element in increasing business development rhythm, but if it is guided towards the level of sublegal and the hits applied to competitors, then it turns into an an...
HUMAN RIGHTS RELATED TO THE RIGHT TO RELIGION AND ECONOMY IN THE CONFLUENCE OF CULTURES
The paper is focused on the authors’ opinion, based on deep research, that religion and education go side by side and could help a lot and should be the basic law for the development, rural or urban, against the backgrou...
CULTURAL DUE DILIGENCE IN M&A. IMPORTANCE OF SOFT RISKS FACTORS
During the last decades, the corporate world has witnessed a significant rise in the number of cross border mergers and acquisitions (M&As). In cross border M&As, not only different corporate cultures collide, but also...
IMPLEMENTATION OF CORPORATE GOVERNANCE MECHANISMS IN TOURISM
The article is devoted to forming of effective mechanisms that regulate economic activity of subjects. The economic state affects activity of companies, especially in tourism. The aim of this paper is to show how impleme...
LAND USE, INTERNAL MOBILITY AND EXTERNAL IMMIGRATION IN ITALY
After the Second World War, the economic development ofItalyhas profoundly changed the use of land. The paper investigates economic and regulatory implications of land withdrawal inItalyand the nexus with internal and fo...