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Tax Revenue and Budget Implementation in Nigeria

This study examined tax revenue and budget implementation in Nigeria. Secondary method of data collection was adopted for a period of 40 quarters from 2008Q1 to 2017Q4. The study made use of Fully Modified Least Square (FMOLS) and Error Correction Model (ECM) based on ARDL approach, after conducted pretest such as unit root test, and co-integration test. Result showed that tax revenue including petroleum profit tax and company income contributes positively and significantly to capital budget implementation in Nigeria, while custom and excise duties significantly and negative affect capital budget implementation in Nigeria; that custom & excise duties as well as value added tax contributes significantly and positively to recurrent budget implementation in Nigeria, while tax revenue from petroleum profit tax significantly and negatively influences recurrent budget implementation in the country. Hence the study recommends that government should engage more of tax revenue generated from both petroleum profit tax and company income tax toward capital projects in the country, rather than recurrent expenditure and collection cost minimization strategy should be device by government through the federal inland revenue services and other tax regulatory bodies especially in terms of both customs & excise duties and value added tax, so as to ensure that proceed from these sources can contribute largely to capital budget implementation.