Correlation between Value Added Tax (VAT) and National Revenue in Nigeria: An ECM model

The main objective of taxation is to raise government revenue. Taxation is a lumpy setup. When disaggregated it has four components. For example in Nigeria we have VAT, Company Income Tax, Personal Income Tax and Petroleum Profit Tax. This paper therefore examines the extent to which VAT has been contributing to Nigeria total federally collected revenue and subsequently it’s position among the other three components. Hence the study employed an Error Correction Model (ECM) for the analysis. Data spanning 1994 -2012 sourced from Central Bank of Nigeria annual report & CBN Statistical Bulletin were used for the analysis. Result from the study revealed that VAT in the second long term source of the total federally collected revenue. The study recommends that all identified loopholes should be plugged for VAT revenue to contribute more to total Federally collected revenue. Keywords: Value Added Tax, Federally Collected Revenue, Taxation

Chinese Globalisation Strategy, Her Recent Global Business Dominance: A Lesson for Nigeria

The study made a comparative analysis of the Nigerian economy and China on globalization. The need to empirically compare Nigeria and China with regard to China’s recent global business dominance formed the central objective of this study.  Data spanning over 23 years (1990-2012) sourced from World Bank were utilized.  The data were purged of spurious relationship by conducting test for stationarity. Ordinary Least Square was employed to analyze the data. The result revealed that China is benefiting from globalization based on China’s strategies in its globalization effort which yielded positive results. Nigeria on the other hand had hurriedly embraced globalization with a mono cultural primary product whose price is very volatile. The study therefore recommends that Nigeria should emulate the Chinese path of gradual market reforms, characterized by cumulative causation where each reform should lead to the next. Furthermore, it recommends that over emphasis on market economy- privatization, liberalization and commercialization is strategic but government presence in planning and development is valuable as seen in China’s experience. Heavy infrastructure and sustained development attract local and foreign investors and government should create incentives to encourage local production and export. Key words: Chinese Globalisation Strategy, Global Business, Dominance

Use of P-glycoprotein gene probes to investigate anthelmintic resistance in Haemonchus contortus and comparison with Onchocerca volvulus

A P-glycoprotein gene probe from the sheep parasitic nematode Haemonchus contortus was developed and used to analyse restriction fragment length polymorphisms between susceptible isolates and isolates resistant to either benzimidazole; levamisole and benzimidazole; or benzimidazole, ivermectin and closantel. No polymorphism could be correlated with any of the different resistances. A P-glycoprotein gene probe was also isolated from the human nematode parasite Onchocerca volulus and an Onchocerca-specific PCR was developed