FISCAL TAX REVENUE AND NIGERIA ECONOMY SUSTAINABLE DEVELOPMENTALIGNING WITH UNITED NATIONS SUSTAINABLE DEVELOPMENT AGENDA

Good economic growth of a nation increases the capacity and supply of goods and services for the citizens in the areas of healthcare, education, social protection and basic public services. Evidence from literature showed that Nigerian economy has been experiencing distress due to reliance on oil and gas in which fluctuations in the global prices have recorded negative effect on the development of the economy. Literature has further shown that Nigerian government has not placed much importance on taxes which form the main source of income for developed nations. Therefore, this study evaluated the effect of fiscal tax (Hydrocarbon tax, companies income tax, value added tax and customs and excise duties) on Nigerian economy. The study adopted ex post facto research design. Using time series, the study evaluated the effect of federal collected taxes on Nigerian for a period of 23 years (2002-2024). Data were obtained from Federal Inland Revenue Service, and Central Bank of Nigeria. Validity and reliability of the financial statements were premised by the statutory audit of the accounts by the office of Auditor General of the Federation. Data were analyzed using descriptive and inferential (multiple regression) statistics at 0.05 level of significance. The results found that fiscal tax revenue had significant effect on gross domestic product (Adj R2=,0.928363, F (3,19) = is 379.3583, p <0.05),had significant effect on gross national product (Adj R2=0.933252, F (3,19)= 150.5240, p< 0.05) and had significant effect on per capita income (Adj R2=0.553321, F(3,19)= 130.7064, p < 0.05) in Nigerian economy. The study concluded that fiscal tax revenue enhanced Nigerian economy to align with Sustainable Development Goals 17 and 8 with support to Goals 1,3,4,10and 12. The study recommended that the federal government of Nigeria should diversify the income base of Nigeria from oil to taxes so that there will inflow of funds to execute projects and develop the economy of the nation. The government should develop policies that will make Sustainable Development Goals pursuit a priority in all the three tiers of government.