Jurnal Aplikasi Manajemen, Ekonomi dan Bisnis
Vol. 7 No. 2 (2023): Jurnal Aplikasi Manajemen, Ekonomi dan Bisnis

The impact of value added tax, petroleum profit tax and government spending on non-oil exports

Umar Bala (Bauchi State University, Gadau)
Hiakewe Doolamen Magdalene (Bauchi State University)
Rabiu Maijamaa (Nigerian National Petroleum Company Limited)
Hahuza Adamu Haruna (Bauchi State University, Gadau Nigeria)



Article Info

Publish Date
29 Apr 2023

Abstract

This study examined the impact of fiscal policy on non-oil exports in the Nigerian economy. Annual time series data were used from 1980 to 2021. The cointegration link was verified using the autoregressive and distributed lag (ARDL) bound test. The results show that three elements of fiscal policy the value added tax, the petroleum profit tax, and government spending have a considerable long-term impact on non-oil export. The study also found that exports of goods other than oil were negatively and significantly impacted by domestic debt. Furthermore, exports other than oil are determined to have little economic impact. As a result, the study recommends that the government concentrate its efforts on diversifying the economy and government revenue, as doing so will make borrowing loans from other countries easier. The government must diversify its revenue sources away from oil and capitalize on the non-oil sector's ability to create small and medium-sized jobs.

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Journal Info

Abbrev

JAMEB

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Description

Issues of management, economics, and business have become a hot topic to be discussed and deliberated in this ever changing business world. Therefore, we need a vehicle to accommodate such issues. Based on this background, JAMEB was established to be a forum for discussion of high impact research ...