Effect of Capital Gains Tax on Economic Growth and Development in Nigeria (2011-2016)

Omesi, Israel


The study empirically examined the effect of capital gains tax on the economic development in Nigeria from 2011 – 2016. Data for the study was obtained mainly from secondary sources, the statistical data based and Bulletin of the Central Bank of Nigeria (CBN) and the website of the Federal Inland Revenue Services (FIRS). Simple regression was employed in determining the functional relationships existing between the variables in the model. Ordinary least square (OLS) method was used to compute the formulated hypotheses. The result showed that capital gains tax contributes significantly to the total tax revenue of government and by extension the economic development of Nigeria. It is therefore recommended that government should be transparently and use revenue generated through capital gains tax for the development of the economy, as tax payers would be willing to pay. The  government on the other hand should be able to  develop the economy to justify the collection of tax payers money.

Keywords:Capital gains tax, economic growth and development, revenue generated and tax payers, money.

DOI: 10.7176/RJFA/10-17-04

Publication date:September 30th 2019

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ISSN (Paper)2222-1697 ISSN (Online)2222-2847

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