Relationship Between FDI, Capital Market and Nigerian Economy

This research work explored the relationship between FDI, capital market and the Nigerian economy. Three hypotheses were formulated and tested using data obtained from CBN statistical bulletin 2013 – 2015. Ordinary Least Squares regression technique with the aid of SPSS 22 was employed and findings revealed that capital market has positive significant impact on Nigerian economy; FDI in Nigeria have significant impact on economic growth and that FDI enhances the capitalization of Nigerian capital market. It was recommended that Government should help improve the investment climate to attract higher FDI inflows which consequently will translate into higher gross fixed capital formation, which in turn leads to greater economic growth. Keywords: FDI; Economy; Capital Market; Investmen

A Comparative Analysis of the VAT System of Developed and Developing Economies (UK and Nigeria)

This research work focused on a comparative analysis of the VAT of developed and developing economies, with UK and Nigeria as subjects of comparison. Two hypotheses were tested using OLS regression technique from a span of data from 2000 to 2013. Findings revealed that the UK value added tax is not more significant than the Nigeria’s value added tax in influencing economic growth and that the UK value added tax is more significant than the Nigeria’s value added tax in influencing economic development. Implication of findings shows that revenue generated from VAT in developed economies are efficiently utilized with the reverse being the case in developing economies. It was recommended that revenue generated from tax in developing nations should be put into productive activity that will enhance economic growth and development and that a better tax model should be proposed in developed economies to balance the weight of tax burden between the rich and the poor so as to have equilibrium in tax collation. Keywords: VAT; EPC; Tax Collation

An Empirical Investigation of the Effect of Taxation on Macroeconomic Performance in Nigeria

The main objective of this paper is to critically investigate the impact of taxation on the macroeconomic performance of the Nigerian economy ranging from 2002 to 2011. Ordinary least squares regression method was applied in analyzing obtained data. Result obtained showed that government earnings from taxation has positive significant effect on real gross domestic product in Nigeria;  government revenue from taxation has negative significant influence on unemployment rate in Nigeria; and that petroleum profit tax has negative significant effect on real interest rate in Nigeria. The implication of the above study shows that revenue generation from taxation enhances economic growth and that changes in taxation, automatically will affect individuals real standard of living (GDP), employment rate and interest rate. In view of above findings, the Researcher recommends that: the current draft national policy should be passed into law by the National Assembly so as to make it a working document; the government should consider taxpayers and other key stakeholders’ interest in fiscal policy formulation and implementation in order to achieve improved tax compliance rate in the country and that government needs to improve the revenue allocation system so as to boast the taxation drive by the different tiers of government. Keywords: Unemployment rate; taxation; Gross Domestic Product (GDP); Petroleum Profit Tax (PPT); Interest Rat

An Empirical Investigation of the Effect of Taxation on Macroeconomic Performance in Nigeria

The main objective of this paper is to critically investigate the impact of taxation on the macroeconomic performance of the Nigerian economy ranging from 2002 to 2011. Ordinary least squares regression method was applied in analyzing obtained data. Result obtained showed that government earnings from taxation has positive significant effect on real gross domestic product in Nigeria;  government revenue from taxation has negative significant influence on unemployment rate in Nigeria; and that petroleum profit tax has negative significant effect on real interest rate in Nigeria. The implication of the above study shows that revenue generation from taxation enhances economic growth and that changes in taxation, automatically will affect individuals real standard of living (GDP), employment rate and interest rate. In view of above findings, the Researcher recommends that: the current draft national policy should be passed into law by the National Assembly so as to make it a working document; the government should consider taxpayers and other key stakeholders’ interest in fiscal policy formulation and implementation in order to achieve improved tax compliance rate in the country and that government needs to improve the revenue allocation system so as to boast the taxation drive by the different tiers of government. Keywords: Unemployment rate; taxation; Gross Domestic Product (GDP); Petroleum Profit Tax (PPT); Interest Rat

Effects of Consolidation on Banks Performance in Nigeria

The study evaluated the effect of consolidation on bank performance in Nigeria. Data were collected from secondary sources. Two hypotheses were tested using ordinary least squares regression method. The implication of the findings showed that the consolidation of banks through mergers and acquisition has significantly influenced banks’ earnings; and that consolidation has not led to increase in capital adequacy ratio of banks. The study recommends that bank regulatory authorities should increase its oversight role so as to ensure that none of the banks has weak corporate governance and that there should be strong enforcement and effective regulatory oversight. Keywords: Consolidation, NDIC, CBN, ROA, RO