International records / OpenAlex research

THE NEXUS BETWEEN FINANCIAL DEEPENING AND NON-OIL TAX REVENUE IN NIGERIA

Tax revenues are the major drivers of government revenue sources for many economies all over the world. In Nigeria, the non-oil tax component has been the major source of tax revenue for government, growing by approximately 126% over the last 15 years. Despite the huge amount of non-oil tax revenues in Nigeria, it still constitutes an abysmal portion of government’s annual budgets. The extent to which the economy churns tax revenues is intricately connected to the level of financial deepening. In view of this, this study investigated the nexus between financial deepening and non-oil tax revenu…