A Combinatorial and Synergistic Analysis of Some Selected Nigerian Taxes and Economic Growth

Oloidi Gabriel Adebayo


The current study focused on some selected Nigerian taxes and their contributions to economic growth. In order to achieve this objective, a dependent variable, to proxy economic growth, was identified as the gross domestic product (GDP). Four independent variables (tax bases), were value added tax,(VAT),  company income tax, (CIT), petroleum profit tax,(PPT) and customs and excise  (CEX) tax .A mathematical combination was applied on the independent variables resulting in 15 econometric models. Findings revealed that VAT and PPT were synergistically significant six (6) out of eight (8) possible times. The CIT was significant five (5) out of eight (8) times and the last and also the least was significant three (3) out of eight (8) times. The overall synergy was 59.34 percent.. Part of the recommendations were that government should reduce the 30 percent CIT to encourage investment and that an enduring strategy should be put in place to address the importation of some goods and services that are sabotaging the economy and also the consumption of some goods that were also detrimental to the health and well-being of the citizenry.

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