Fiscal Policy (VAT) Reform and Economic Growth: Empirical Evidence of Nigeria

Preye k. Biaze, KPOLODE Oghenevwo P. and Kelvin A. Ekiodiribo
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Preye k. Biaze: Department of Accountancy, Delta State Maritime Polytechnic Buru, Nigeria.
KPOLODE Oghenevwo P.: Department of Accountancy, Niger Delta University, Amasoma, Bayelsa State, Nigeria
Kelvin A. Ekiodiribo: Department of Business Administration, Delta State Maritime Polytechnic Buru, Nigeria

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 1, 2184-2189

Abstract: Value added tax (VAT) is an element of fiscal policy and it has been a consumption since from 1st September, 1993 and was impose or became operational on 1st January 1994 at the rate of .five percent (5%),and was later adjusted upward to 7.5%, however this new fiscal reform is proposing a 10% VAT value which is about 2.5% increase in the prior value and 15% by 2027, therefore we employed secondary data covering data from 2020 to 2023 extracted from Nigeria statistical bulletin and central bank of Nigeria to examined fiscal policy (vat) reform and economic growth, the regression showed a statistical significant relationship between the explanatory variables and the response variables, which agreed with the study. Hence we recommend that policy that deter consumption purchasing power on the average should be discourage, this is because it will not only reduce productivity but also increase unemployment.

Date: 2025
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