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All Journal Asian Journal of Science, Technology, Engineering, and Art Kajian Pendidikan, Seni, Budaya, Sosial dan Lingkungan
Ikechukwu, Egbere Michael
Unknown Affiliation
Arts Computer Science & IT Economics, Econometrics & Finance Education Engineering Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences

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The treasury single account as an institutional moderator in the interplay between fiscal revenue accretion and gross domestic product trajectories in Nigeria Ikechukwu, Egbere Michael; Ajayi, Tijjani Ahmed
Kajian Pendidikan, Seni, Budaya, Sosial dan Lingkungan Vol. 3 No. 1 (2026): March 2026
Publisher : Yayasan Mitra Persada Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58881/kpsbsl.v3i1.156

Abstract

This study investigates the Treasury Single Account (TSA) as an institutional moderator in the relationship between fiscal revenue accretion and Nigeria’s gross domestic product (GDP) trajectory. The aims are to evaluate whether TSA‐induced changes in revenue mobilization alter the strength and pattern of the revenue–GDP nexus, and to quantify any moderating effect across pre and post implementation periods. Using an ex post facto, longitudinal design, the study employs annual and quarterly data on federally collected oil and non oil revenues and GDP obtained from Central Bank of Nigeria, FIRS and NBS publications, covering pre TSA and post TSA eras. Analysis combines difference in means tests with moderated regression models interacting TSA status with disaggregated revenue components to capture institutional effects on growth responsiveness. Results are expected to show that, while aggregate revenue performance is mixed, TSA strengthens the positive association between non oil revenues and GDP, and stabilizes growth trajectories through enhanced transparency and cash management. The study concludes that TSA functions as a critical fiscal governance infrastructure, conditioning how revenue gains translate into macroeconomic performance.
Retracted: Company Income Tax: A Sine Qua Non to Economic Growth of Nigeria Ikechukwu, Egbere Michael
Asian Journal of Science, Technology, Engineering, and Art Vol 4 No 2 (2026): Asian Journal of Science, Technology, Engineering, and Art
Publisher : Darul Yasin Al Sys

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58578/ajstea.v4i2.9334

Abstract

Although company income tax (CIT) remains a critical instrument for financing public services and infrastructure, its contribution to economic growth in Nigeria is constrained by persistent revenue leakages associated with capital flight. This study examines the extent to which capital flight undermines the effectiveness of CIT in supporting Nigeria’s economic growth. Drawing on an adapted model from Ichoku and Fonta (2006) and anchored in Wagner’s Law of expanding state activity, the study employs time-series data from 1994 to 2016 and applies the Error Correction Model (ECM), Augmented Dickey-Fuller unit root tests, Johansen cointegration tests, and Granger causality tests to evaluate both short-run and long-run relationships between capital flight components and CIT revenue. The findings show that over-invoicing and under-invoicing exert a statistically significant negative effect on CIT, indicating that these illicit financial practices erode the corporate tax base and weaken government revenue generation. The results also reveal both unidirectional and bidirectional causal relationships between capital flight indicators and CIT. Although debt servicing exerts a negative but statistically insignificant effect, its long-term implications for fiscal sustainability remain substantial. The study concludes that CIT is indispensable to Nigeria’s economic growth, but its effectiveness is severely compromised by unchecked capital flight. These findings underscore the need for stronger customs enforcement, improved tax administration, and enhanced international cooperation to curb illicit financial flows, strengthen tax compliance, and reinforce Nigeria’s fiscal capacity.
Co-Authors Ajayi, Tijjani Ahmed