Abstract

This study investigates the impact of tax revenue on budget implementation in Nigeria from 2014 to 2024, focusing on three key tax components: Company Income Tax (CIT), Value Added Tax (VAT), and Petroleum Profits Tax (PPT). Using an ex-post facto research design and multiple regression analysis, the study draws on secondary data sourced from the Central Bank of Nigeria (CBN), the Federal Inland Revenue Service (FIRS), and the National Bureau of Statistics (NBS). The findings reveal that CIT and VAT have a significant positive effect on budget implementation, while PPT shows a weaker and less consistent impact, highlighting the risks associated with over-reliance on oil revenue. The high R-squared value of 0.943 indicates that these tax components collectively explain a large proportion of the variation in budget implementation. The study concludes that strengthening domestic tax mobilization, broadening the tax base, and enhancing administrative efficiency are critical strategies for ensuring fiscal stability and effective budget execution in Nigeria. It recommends that the Nigerian government should strengthen monetary policy, prioritize non-oil revenue sources, and maintain consistent fiscal policies to achieve sustainable economic development.

Keywords

Tax Revenue, Budget Implementation, Company Income Tax, Value Added Tax, Petroleum Profits Tax.

File: 1778339279_Vol_10_2__004.pdf

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