Boosting Tax Revenue in Nigeria: A Reflection of Revenue Authority’s Tax Monitoring Model

The study examined the effect of tax monitoring and education on government’s internally generated revenue by State governments in Nigeria. To achieve the objective of the study, two hypotheses were formulated and stated thus:  There is no significant relationship between revenue authority’s tax monitoring and internally generated revenue and there is no significant relationship between education/literacy and internally generated tax revenue. Survey research design was adopted while the study objectives guided the empirical review. Primary data were collected using structured questionnaires, while formulated hypotheses were analyzed using regression and Pearson product moment correlation in SPSS. The result of the study showed that there was a significant positive relationship between continuous tax monitoring and internally generated revenue. The study also found out a positive relationship between tax education/literacy and tax compliance among tax payers. It was recommended that effective tax monitoring by the authorities and regular education of tax payers on the benefits of paying tax, would ensure improved revenue generation in Nigeria. Keywords: Taxation, Revenue Generation, Tax Monitoring, Tax Education

REACTION OF SHARE PRICES TO DIVIDEND POLICY OF NON-FINANCIAL FIRMS IN NIGERIA: A PANEL DATA APPROACH

The study analyzed how share prices react to dividend policies of non-financial firms in Nigeria. Data were collected from a sample of 31 non-financial firms using an ex post facto research design from 2013 to 2019, resulting in 217 firm-specific observations. Descriptive statistics, diagnostic tests, and inferential statistics were used as statistical tools of analysis. Results revealed that dividend per share positively and significantly affects share prices of sampled firms. This finding affirms Gordon’s bird in hand theory that share prices are affected by dividend. Dividend payout ratio, dividend yield, firm, size and firm age do not have significant effect on share prices of sampled firms. Consequently, the study recommends that firms should ensure that a good dividend policy is implemented and that dividend per share policies are maintained, as this has been empirically demonstrated to influence share prices