This study examines the impact of environmental and social costs on performance of Nigerian manufacturing companies. With the use of secondary data, sourced from ten (10) randomly selected firms' annual report and financial summary 2014. The study makes use of t-test of Spss version 20 for the analysis of collected data. Finding from the analysis shows that the sample companies environmental and social cost significantly affect Net profit margin, Earnings per share and Return on capital employed of manufacturing companies. The researchers recommended that government should ensure complete adherence of environmental laws by manufacturing companies in Nigeria.
The contribution of personal income tax to gross national income is assessed in this study. Over the years, tax revenue has been an important government source of income to finance public goods and services. In Nigeria, the tax structure includes personal income tax (PIT) as well as other direct and indirect taxes. There is PIT collection by both the state and federal governments. This study examines the influence of PIT on aggregate income of the country from 2011 to 2020 using ordinary least squares method. The dependent variable is the gross national earnings while the independent variable is the personal income tax collected at the federal government level in Nigeria. The study finds corruption and inflation as two useful control variables that have direct influence and link with individuals' tax compliance in Nigeria. The data sources include the Organization for Economic Co-operation and Development (OECD) for PIT figures, Transparency International (TI) for Corruption Perceptions Index (CPI) data and World Bank Economic Indicators for Gross National Income (GNI) and inflation statistics. The empirical findings reveal that PIT has a significant positive influence on the gross national income. The moderating variables applied are not significant and could not explain the vicissitudes in the gross national earnings. The study recommends improvement in the PIT administration to boost tax revenue collections and remittances to the government treasury. Further suggestion by this study is that corruption and inflation should be minimized to enhance PIT collection at both federal and state government levels.
Due to the obvious ozone layer depletion and continual contamination of the air and water, environmental protection has become a global priority. In an environmentally challenged country like Nigeria, the difficulty of having clean water and air is a significant cause for environmental taxes to become unavoidable. Although these taxes are presently levied in the form of fines for gas flaring, gas exploration tax, and petroleum profit tax, which are 85 percent more than the standard business income tax of 30 percent of revenues. The argument is based on the fact that the business operations of the oil and gas sector cause a significant degree of pollution to the environment. As a result, this research looks at the influence of environmental taxes on CO 2 emission control in Nigeria. The research spans the years 2010 to 2020. According to the regression findings, the gas exploration tax has an inconsequential negative influence on CO 2 emission management, but the petroleum profit tax has a negligible positive impact on CO 2 emission control. On the other side, the cost of environmental preservation has a large beneficial influence on CO 2 emission control. As a result, the study suggests the implementation of more suitable environmental taxes and levies in order to lower pollution levels in Nigeria.
This study investigates the determinants of audit expectation gap by reviewing several studies to establish its existence and the major causes of the expectation gap. In like manner, many other empirical works on the effectiveness of audit education in providing a solution to the anticipation breach issues are also examined. The findings reveal the existence of review expectancy crack in different countries of the world. The major causes of the breach also include performance deficiency, standard paucity, auditors’ compromise of their roles, and lack of public awareness of what the law specifies the auditors’ roles should be, among others. In the light of the review, this study further discovers that the varying audit prospect disruption can be effectively managed by providing adequate and comprehensive audit education to various users of audit reports and the society at large. In this study, we propose early learning of audit. An audit should be a general subject in the Universities and Institutions of higher learning. This will help to equip future managers, managing directors, entrepreneurs, chief executive officers (C.E.O.s) of companies, investors and other stakeholders.
The research investigates the consequences of digital financing on taxation in the fourth industrial revolution, with a focus on Nigeria. The primary goal of industry 4.0 characteristics is to increase income in both the municipal and private sectors. As a result, the government's embrace of digital finance is expected to increase tax revenue collection in Nigeria. In this study, we examine the effectiveness of digital financing instruments such as ATMs, point-of-sale terminals, and web-based or internet-based payments in increasing tax collection in Nigeria. Because the first statistics on digital finance recorded by CBN annual reports were published in 2006, the analysis spans the years from 2006 to 2019. We use multiple regression approaches to assess the effect of each digital financing tool and discover that only ATM has a substantial influence on tax income over the research period. Other digital finance gadgets have statistically negligible results. As a result, the study suggests that Nigeria's network be improved, as well as tax payers' knowledge and usage of digital finance instruments in order to comply with their tax responsibilities.
According to the researchers, the aim of this study is to evaluate the impact of government spending on poverty rates in Nigeria. Several issues of the Central Bank of Nigeria's statistics bulletin were used in the research, which yielded a large amount of data. The data was submitted to a unit root test, which was performed using the Augmented Dickey fuller (ADF) method, in order to determine its time series characteristics. The variables' socioeconomic characteristics were obtained via the use of descriptive statistics. Because of the varying order of integration seen in the unit root, cointegration and regression analysis were carried out utilizing the ARDL- Autoregressive Distributed Lag method, which is an acronym for Autoregressive Distributed Lag. The results of the study revealed that the crucial t-value of 2.185498 is more than the t-statistic value of 2.185498 by a factor of two (2.0). Additionally, the result of 0.0377 is less than the cutoff value of 0.05. According to the findings of the research, capital expenditure has a significant impact on the poverty rate. According to the study, more capital investment in the following areas is recommended: education, electricity generation, economic services, and health. It also recommends that resources be effectively managed.
Equity financing is one of the sources of funding available to non-bank financial institutions which is quite prevalent in developed financial markets for small or start-up firms. This study empirically determined the effect of the Equity Financing Scheme on a sustainable increase in productivity of agro-allied small businesses in Nigeria. Data for this study were elicited through the use of a questionnaire structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that the equity financing scheme had a positive and significant effect on the sustainable productivity of agro-allied small businesses in South-South Nigeria. The study recommended that efforts should be made to educate the small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.
The research investigates the relationship between governmental capital spending and economic development in Nigeria. Several issues of the Central Bank of Nigeria's statistics bulletin were used in the research, which yielded a large amount of data. The data was submitted to a unit root test, which was performed using the Augmented Dickey fuller (ADF) method, in order to determine its time series characteristics. The variables' socioeconomic characteristics were obtained via the use of descriptive statistics. Because of the varying order of integration seen in the unit root, cointegration and regression analysis were carried out utilizing the ARDL- Autoregressive Distributed Lag method, which is an acronym for Autoregressive Distributed Lag. The results show that public capital investment has a negative and statistically significant (tcal = -2.6996) impact on the Nigerian economy, as assessed by the GDP growth rate, according to the data. The results demonstrate that when capital expenditures in Nigeria get the attention they deserve, they have the potential to contribute to economic development in the country. This research recommends that the government manage capital spending in an appropriate manner in order to enhance the nation's productive capacity and accelerate economic development in light of the results.
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