THE IMPLICATIONS OF TAXATION ON REVENUE GENERATION IN NIGERIA

Abstract

The importance of taxes to the provision of sustainable revenue in any country ca never be over-emphasized. This is more so for Nigeria because of her desperate need for a steady source of revenue in view of the debilitating deterioration in oil prices for the last several years. In view of the foregoing, it is pertinent to appraise the implications of taxation for revenue generation in Nigeria, identify the problems militating against the effectiveness of the Nigerian tax system and outline the remedies thereto. It is firmly believed that a careful appreciation and implementation of the measures herein outlined will significantly reposition the Nigerian tax system and accentuate the amount of revenue generated from same.