Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting

Emuebie Emeke; Obasi Mba Okoko; Dada Samuel Olajide

doi:doi:10.11648/j.ijafrm.20230801.12

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Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting

Emuebie Emeke, Obasi Mba Okoko, Dada Samuel Olajide

Published in International Journal of Accounting, Finance and Risk Management (Volume 8, Issue 1)

Received: 30 December 2022 Accepted: 1 March 2023 Published: 15 March 2023

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Abstract

In this study, the effect of revenue leaks on Nigeria's economic growth from 2011 to 2021 was examined. This was done in accordance with the metrics of Oil Revenue Leakage, Non-oil Revenue Leakage, and Total Revenue Leakage, as well as their effects on Nigeria's economy as measured by Real Gross Domestic Product. The World Bank Statistical Bulletin, the American National Bureau of Statistics and the websites of the Central Bank of Nigeria and the Federal Inland Revenue Service were used to create data for the years 2011–2021. The dataset for regression was defined using descriptive statistics, and the stationarity of the data was tested using the unit root method. Correlation analysis and a multiple regression analysis were employed to see how closely the independent variables moved in tandem with the relevant dependent variable. Findings revealed that non-oil revenue leakage had a beneficial impact on economic growth while oil revenue leakage had a negative impact but was not statistically significant. Accordingly, the study's findings on the connection between Nigeria's GDP growth and revenue leaks were inconclusive. The report suggests that to promote a high rate of tax compliance and reduce the twin problems of tax evasion and avoidance to a tolerable level, the government should generate job opportunities for everyone through the smart use of tax resources.

Published in	International Journal of Accounting, Finance and Risk Management (Volume 8, Issue 1)
DOI	10.11648/j.ijafrm.20230801.12
Page(s)	12-20
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Tax Avoidance, Tax Evasion, Economic Growth, Forensic Accounting, Revenue Leakage

References

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APA Style

Emuebie Emeke, Obasi Mba Okoko, Dada Samuel Olajide. (2023). Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting. International Journal of Accounting, Finance and Risk Management, 8(1), 12-20. https://doi.org/10.11648/j.ijafrm.20230801.12

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ACS Style

Emuebie Emeke; Obasi Mba Okoko; Dada Samuel Olajide. Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting. Int. J. Account. Finance Risk Manag. 2023, 8(1), 12-20. doi: 10.11648/j.ijafrm.20230801.12

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AMA Style

Emuebie Emeke, Obasi Mba Okoko, Dada Samuel Olajide. Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting. Int J Account Finance Risk Manag. 2023;8(1):12-20. doi: 10.11648/j.ijafrm.20230801.12

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@article{10.11648/j.ijafrm.20230801.12,
  author = {Emuebie Emeke and Obasi Mba Okoko and Dada Samuel Olajide},
  title = {Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {8},
  number = {1},
  pages = {12-20},
  doi = {10.11648/j.ijafrm.20230801.12},
  url = {https://doi.org/10.11648/j.ijafrm.20230801.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20230801.12},
  abstract = {In this study, the effect of revenue leaks on Nigeria's economic growth from 2011 to 2021 was examined. This was done in accordance with the metrics of Oil Revenue Leakage, Non-oil Revenue Leakage, and Total Revenue Leakage, as well as their effects on Nigeria's economy as measured by Real Gross Domestic Product. The World Bank Statistical Bulletin, the American National Bureau of Statistics and the websites of the Central Bank of Nigeria and the Federal Inland Revenue Service were used to create data for the years 2011–2021. The dataset for regression was defined using descriptive statistics, and the stationarity of the data was tested using the unit root method. Correlation analysis and a multiple regression analysis were employed to see how closely the independent variables moved in tandem with the relevant dependent variable. Findings revealed that non-oil revenue leakage had a beneficial impact on economic growth while oil revenue leakage had a negative impact but was not statistically significant. Accordingly, the study's findings on the connection between Nigeria's GDP growth and revenue leaks were inconclusive. The report suggests that to promote a high rate of tax compliance and reduce the twin problems of tax evasion and avoidance to a tolerable level, the government should generate job opportunities for everyone through the smart use of tax resources.},
 year = {2023}
}

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TY  - JOUR
T1  - Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting
AU  - Emuebie Emeke
AU  - Obasi Mba Okoko
AU  - Dada Samuel Olajide
Y1  - 2023/03/15
PY  - 2023
N1  - https://doi.org/10.11648/j.ijafrm.20230801.12
DO  - 10.11648/j.ijafrm.20230801.12
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 12
EP  - 20
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20230801.12
AB  - In this study, the effect of revenue leaks on Nigeria's economic growth from 2011 to 2021 was examined. This was done in accordance with the metrics of Oil Revenue Leakage, Non-oil Revenue Leakage, and Total Revenue Leakage, as well as their effects on Nigeria's economy as measured by Real Gross Domestic Product. The World Bank Statistical Bulletin, the American National Bureau of Statistics and the websites of the Central Bank of Nigeria and the Federal Inland Revenue Service were used to create data for the years 2011–2021. The dataset for regression was defined using descriptive statistics, and the stationarity of the data was tested using the unit root method. Correlation analysis and a multiple regression analysis were employed to see how closely the independent variables moved in tandem with the relevant dependent variable. Findings revealed that non-oil revenue leakage had a beneficial impact on economic growth while oil revenue leakage had a negative impact but was not statistically significant. Accordingly, the study's findings on the connection between Nigeria's GDP growth and revenue leaks were inconclusive. The report suggests that to promote a high rate of tax compliance and reduce the twin problems of tax evasion and avoidance to a tolerable level, the government should generate job opportunities for everyone through the smart use of tax resources.
VL  - 8
IS  - 1
ER  -

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Author Information

Emuebie Emeke

Department of Accounting, Babcock University, Ilishan-Remo, Nigeria
Obasi Mba Okoko

Department of Accounting, Babcock University, Ilishan-Remo, Nigeria
Dada Samuel Olajide

Department of Accounting, Babcock University, Ilishan-Remo, Nigeria

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Plain Text BibTeX RIS

APA Style

Emuebie Emeke, Obasi Mba Okoko, Dada Samuel Olajide. (2023). Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting. International Journal of Accounting, Finance and Risk Management, 8(1), 12-20. https://doi.org/10.11648/j.ijafrm.20230801.12

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ACS Style

Emuebie Emeke; Obasi Mba Okoko; Dada Samuel Olajide. Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting. Int. J. Account. Finance Risk Manag. 2023, 8(1), 12-20. doi: 10.11648/j.ijafrm.20230801.12

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AMA Style

Emuebie Emeke, Obasi Mba Okoko, Dada Samuel Olajide. Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting. Int J Account Finance Risk Manag. 2023;8(1):12-20. doi: 10.11648/j.ijafrm.20230801.12

Copy | Download

@article{10.11648/j.ijafrm.20230801.12,
  author = {Emuebie Emeke and Obasi Mba Okoko and Dada Samuel Olajide},
  title = {Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {8},
  number = {1},
  pages = {12-20},
  doi = {10.11648/j.ijafrm.20230801.12},
  url = {https://doi.org/10.11648/j.ijafrm.20230801.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20230801.12},
  abstract = {In this study, the effect of revenue leaks on Nigeria's economic growth from 2011 to 2021 was examined. This was done in accordance with the metrics of Oil Revenue Leakage, Non-oil Revenue Leakage, and Total Revenue Leakage, as well as their effects on Nigeria's economy as measured by Real Gross Domestic Product. The World Bank Statistical Bulletin, the American National Bureau of Statistics and the websites of the Central Bank of Nigeria and the Federal Inland Revenue Service were used to create data for the years 2011–2021. The dataset for regression was defined using descriptive statistics, and the stationarity of the data was tested using the unit root method. Correlation analysis and a multiple regression analysis were employed to see how closely the independent variables moved in tandem with the relevant dependent variable. Findings revealed that non-oil revenue leakage had a beneficial impact on economic growth while oil revenue leakage had a negative impact but was not statistically significant. Accordingly, the study's findings on the connection between Nigeria's GDP growth and revenue leaks were inconclusive. The report suggests that to promote a high rate of tax compliance and reduce the twin problems of tax evasion and avoidance to a tolerable level, the government should generate job opportunities for everyone through the smart use of tax resources.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Revenue Leakages and Economic Growth in Nigeria: The Place of Forensic Accounting
AU  - Emuebie Emeke
AU  - Obasi Mba Okoko
AU  - Dada Samuel Olajide
Y1  - 2023/03/15
PY  - 2023
N1  - https://doi.org/10.11648/j.ijafrm.20230801.12
DO  - 10.11648/j.ijafrm.20230801.12
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 12
EP  - 20
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20230801.12
AB  - In this study, the effect of revenue leaks on Nigeria's economic growth from 2011 to 2021 was examined. This was done in accordance with the metrics of Oil Revenue Leakage, Non-oil Revenue Leakage, and Total Revenue Leakage, as well as their effects on Nigeria's economy as measured by Real Gross Domestic Product. The World Bank Statistical Bulletin, the American National Bureau of Statistics and the websites of the Central Bank of Nigeria and the Federal Inland Revenue Service were used to create data for the years 2011–2021. The dataset for regression was defined using descriptive statistics, and the stationarity of the data was tested using the unit root method. Correlation analysis and a multiple regression analysis were employed to see how closely the independent variables moved in tandem with the relevant dependent variable. Findings revealed that non-oil revenue leakage had a beneficial impact on economic growth while oil revenue leakage had a negative impact but was not statistically significant. Accordingly, the study's findings on the connection between Nigeria's GDP growth and revenue leaks were inconclusive. The report suggests that to promote a high rate of tax compliance and reduce the twin problems of tax evasion and avoidance to a tolerable level, the government should generate job opportunities for everyone through the smart use of tax resources.
VL  - 8
IS  - 1
ER  -

Copy | Download