AFRICAN SCHOLAR JOURNAL OF BUSINESS DEV. AND MANAGEMENT RESEARCH (AJBDMR)
VOL. 27 NO. 7 DECEMBER, 2022 ISSN: 2190-2099
African Scholar Publications and Research International,
Centre for African Studies,
University of Ibadan, PO Box 10108, U.I. Post Office, Ibadan, Oyo State, Nigeria – West Africa.
Copyright © 2022 African Scholar Publications and Research International.
The Effects of Cost on the Profitability of an Organization (A Case of Grand Cereals and Oil Mills Limited, Nigeria)
Dr. Adamu, Daniel K.
Faculty of Management Sciences, Actuarial Science Department, University of Jos, Plateau State, Nigeria.
The topic of this research is’ The effects of cost on the profitability of an organization’: (a case of Grand Cereals and Oil Mills Limited, Nigeria). The purpose of this study was to discover the relationship between cost and profitability in an organization, to identify the role of proper costing in the growth of an organization, to also identify the challenges of cost and profitability in an organization and to determine ways of reducing cost and maximizing profits in an organization. The design of this study was a cross-sectional survey method. The instrument of data collection was the records of Grand Cereals and Oil Mills Limited and it was analyzed using the Simple correlation as well as Analysis of Variance (ANOVA). The result of this research shows that there is a negative correlation between cost of production and profitability of Grand Cereals and Oil Mills Limited, there is positive correlation between sales and profitability and there is also a negative correlation between VAT and profitability of an organization. However, for adequate profit to be recorded from a business there is a need for adequate control of cost because a company with adequate cost structure possesses the higher chance of attaining its profit target.
Keywords: Profitability, Cost, Development, Growth, Production, Maximizing Profit, Cost Reduction
Effect of Ethical Behaviour on Organizational Performance. A Study of 7up Bottling Company, Aba, Abia State
Dr. Melletus Uchechukwu Agbo
Department of Business Administration, Caritas University, Amorji Nike, Enugu, Enugu State, Nigeria
The study determined the effect of ethical behaviour on organizational performance: A study of 7up bottling company, Aba, Abia state. Having analyzed the distributed 95 questionnaires, descriptive survey approach was adopted and analyzed using regressions with the help of SPSS version 22.0. The findings indicates positive and significant effect of ethical values on performance of 7up bottling company, Aba, Abia state. Also there is positive and significant effect of responsibility and accountability on profitability of 7up bottling company, Aba, Abia state. And concludes that, ethical behaviour among employees is crucial andimperative. This evidenceshows the kind of problematic issue in this sector even inthe 21st Century. Ethical values, responsibility and accountability in these firms should not beoverlooked, since it provides a sense of direction toward profitability as a measure of performance. This study found that 7up bottling company, Aba, Abia state have clear guidelines to keep incheck unethical behaviour. And thus, recommends that 7up bottling company, Aba, Abia state through Governance, Justice, Law and Order office initiate the use of social media platform, and short text messaging services to enable customer report any form of misconduct as soon as possible for prompt action.
Keywords: Organizational Behaviour, Productivity, Profitability, Efficiency and Effectiveness
Job Satisfaction, Structural Empowerment, Gender and Millennial Managers Engagement in Nigeria
*Chijioke Nwachukwu, PhD; **Dr. Shadrach Omofowa; & ***Mary Shadrach Omofowa
*Horizons University Paris, Centre for Multidisclipnary Research and Innovation Abuja. **Department of Business Administration, Global Polytechnic, Benin City, Edo State, Nigeria. ***Department of Human Resources, University of Benin, Benin City, Nigeria.
The purpose of this paper is to unravel not only the effect of job satisfaction on millennial managers engagement but also the moderating effect of structural empowerment and gender in predicting engagement. Data collection is based on an online survey sent to managers of selected companies. 142 questionnaires were analysed using hierarchical regression analysis. Results suggest that job satisfaction positively relates to millennial managers engagement. The effect of job satisfaction on engagement is significantly moderated by structural empowerment. However, gender does not moderate the effect of job satisfaction on millennial managers engagement. Considering that job satisfaction is important for millennials’ managers level of engagement, organisations must incorporate all motivational factors (e.g., advancement and professional development opportunities, possibility to use their knowledge in the work) to sustain Job satisfaction and a higher level of engagement. Future studies should examine the growing network of relationships (mediating and moderating) among job satisfaction, empowerment and millennial managers engagement.
Keywords: job satisfaction, gender, structural empowerment, Nigeria, millennials
Impact Assessment of Central Bank of Nigeria’s MSMES Fund on Development of Entrepreneurship in Nigeria
1Adegbola, Eunice Abimbola; 2Abdullahi, Shehu Araga; 3Alabi, Jacob Abu; & 4Ibrahim, Mohammed Gaddafi
1Dept. of Business Administration, Faculty of Management Sciences, National Open University of Nigeria, Abuja. 2Dept. of Financial Studies, Faculty of Management Sciences, National Open University of Nigeria, Abuja. 3&4Dept. of Entrepreneurship Studies, Faculty of Management Sciences, National Open University of Nigeria, Abuja.
The study’s goal was to assess the influence of the 2013 Central Bank of Nigeria MSMEs fund on the growth of entrepreneurship in some Nigerian states. The study used a quantitative approach to data gathering and analysis as an exploratory study. To reflect the six geopolitical zones of the nation, primary data from 720 MSMEs in six states were gathered and analyzed using SPSS 23. Results demonstrated a strong positive association between the growth of entrepreneurship in a few Nigerian States and the CBN MSMEs fund. Conditions for MSMEs in Nigeria to obtain CBN funds are another crucial aspect that propels the growth of entrepreneurship in the nation. The study suggests, among other things, that: a vigorous campaign be used to inform MSMEs’ operators of the fund’s existence in order for majority of them to benefit from it; sufficient funds be granted to some businesses, especially the micro and small ones, in order to meet their operational working capital needs; and the time between documentation and the release of funds by participating banks be shortened.
Keywords: Nigeria; CBN MSMEs Fund; Entrepreneurship Development.
Effect Government Initiatives on Entrepreneurship Development in Gombe Metropolis
1Nasiru Abdullahi; 2Muhammad Yunusa; 3Abubakar Sadiq Salisu; 4Mubarak Muhammad; & 5Umar Muhammad
1Department of Business Administration, Gombe State University,Gombe State, Nigeria. 2Department of Accounting Gombe State Polytechnic Bajoga, Gombe State, Nigeria. 3Department of General studies Gombe State Polytechnic Bajoga, Gombe State, Nigeria. 4Department of Statistics Gombe State Polytechnic Bajoga, Gombe State, Nigeria. 5Department of Statistic Gombe State Polytechnic Bajoga, Gombe State, Nigeria.
This study investigated the effect of government initiatives on the development of entrepreneurship in Gombe metropolis, Gombe state, Nigeria. The populations of the study consist of 900 businesses that are registered with the ministry of commerce, trade and industry Gombe state. The sample of this research is determined by using Morgan table. And samples of 269 registered businesses are used. Data were analyzed with the aid of Multiple Regression (Ordinary Least Square Estimation) and Pearson Product Moment Correlation Coefficient. Results showed that anchor borrowers scheme and Nirsal microfinance loan have positive and significant influence on businesses development. Additionally, anchor borrowers scheme and nirsal micro finance loan jointly contribute about 42.9% to the development businesses. The study therefore, recommended that government should have a policy in place through its developmental programmes to encourage businesses to grow.
KEYWORDS: Anchor borrower’s scheme, Nirsal micro finance loan, Entrepreneurship development.
Assessing the Effect of Corruption on Industrial Development in Nigeria North-Eastern States in Focus
Ahamed Hamidu Maiha, Aminu Namuku, Dominic Dzari Isa, Supurti Irmiya, &Ndonya Tsunduya Ishaku
School of Administrative and Business Studies (SABS) Numan, Adamawa State Polytechnic, Yola
The problem of corruption is considered as one of the most emerging issues, which poses serious challenges to national development in Nigeria. Corruption is so endemic in Nigeria in such a way that the entire fabric of the society is affected. The myriads of issues associated with corruption which has permeated both public and private sectors have almost run Nigeria socially and economically grounded. That between 1960 – 2022 corruption costs Nigeria over $30 billion in financial loss. Many private sectors, individuals and organisations act in connivance with public servants to steal or divert public funds in billions of Naira. In the public sector, public funds and properties are routinely cornered by well- placed officers who wind up owning stupendous wealth while the majority of Nigerian masses suffer from object poverty, lack of infrastructure and absence of other social services. This research work tries to look at corruption and industrial development: and the way forward in Nigeria with particular focus on Northeast Zone. The overall objectives of this research work are to uncover the acceptable role model that would curb corruption, which paves ways for bringing rapid industrial development in Nigeria and in particular, Northeast Zone. The researchers used both questionnaire and documentation as methods of data collection in generating information concerning the topic in question. The sources of data were both primary and secondary. The primary data was sourced through the administration of questionnaires to targeted individuals and groups, especially, Industrialist, public members, and officials of both public and private sectors in order to have relevant information. It is recommended among others that there should be reasonable payment to civil servants and public officers a living wage that can take care of their needs. Employment in both public and private sectors should be based on merit so as to engage credible and competent manpower to man our organisations. Give full support and granting autonomy to the already existing Anti-corruption Agencies to enable them curb corrupt practices that would encourage faithfulness in implementing development programs/projects that promote rapid development nationwide.
Keywords: Corruption, Industrialization, Economic Development, Society, infrastructure
Organisational Culture and Employee’s Job Performance in Selected Institutions in Edo and Delta States
*Johnson – Itabita, Patience (PhD); and **Agunuwa, Ekokotu Vincent (PhD)
*Department of Business Administration/Management, Delta State Polytechnic, Otefe – Oghara. **Department of Banking & Finance, Delta State Polytechnic, Otefe – Oghara
The study examined the relationship that between organizational culture and Employee’s job performance in selected tertiary institutions in Delta and Edo states. The specific objectives of the study sought to: ascertain the extent to which organisational vision affects employee’s job performance, assess the nature of relationship between organisational shared assumption and how it affects employee’s job performance, The population of the study was 3,117 teaching and non-teaching employees of the selected tertiary institutions in Delta and Edo States. The sample size of 355 was determined using Taro Yamane’s statistical formula from the staff population of three thousand, one hundred and seventeen (3,117). Simple random sampling procedure was used to select the respondents in each of the selected institutions while Bowley’s proportional allocation method was adopted to determine the allocation of questionnaire to each of the participated institutions. Data were collected through the use of the questionnaire. The questionnaire was structured on Likert five–point scale. Cronbach’s Alpha was used to test the reliability of the variables. The result gave a reliability coefficient of 0.819, indicating high degree of internal consistency of items in the questionnaire. The construct, content and face instrument validity was done by measurement and evaluation experts and the project supervisors. (ANOVA) Analysis of Variance as the inferential statistic used for the data analysis. The acceptable probability level of significance was 0.05. The findings revealed that Organisational vision had no significant difference with employee’s job performance, Organisational shared assumption had no significant difference with employee’s job performance, The study concluded that effective implementation of organisational culture indicators did not only benefit the selected tertiary institutions but it was also a pointer for better employee’s job performance in terms of competitive advantage, better service delivery, stakeholders loyalty, workers ‘commitment, efficiency, , employee retention, good corporate image and environmental friendliness. The study recommended that management of tertiary institutions in Edo and Delta States and the entire country should effectively implement a strong organisational culture for better job performance.
Keywords: Organizational Culture, Job performance, Organizational Vision, Taro Yamane Statistical Formula, Likert Five Point Scale.
Product Packaging and its Impact on Sales Volume of Consumer Shopping Goods
Koce, Henry Diko & Bello, Babatunde Sikiru
Department of Marketing, Federal Polytechnic, Bida, Niger State, Nigeria.
Traditionally, the primary function of a product’s package was to contain and protect a product but recent packaging trend and emergence has seen increased competition and clutter on retail store shelves make packaging an important marketing tool. This, by implication, means that packages must now perform many sales tasks ranging from attracting attention, describing the product, to making the sale. This study examined two product packaging variables (colour and design) and their impacts on sales volume of consumer shopping goods. The study adopted survey research design and the population comprised of the retail stores selling consumer shopping goods in Bida from which 25 were selected using convenience sampling. Well-structured questionnaire was carefully designed to elicit information from the selected retail outlets and they were analysed using SPSS and path analysis with two models. The results of the study indicated that packaging colour has a positive and significant impact on sales volume of consumer shopping goods; it also showed that packaging design has a positive and significant impact on sales volume of consumer shopping goods. It was therefore concluded that all the established relationships between product packaging and sales volume of consumer shopping goods were positive and significant thereby leading to the rejection of the claimed hypotheses (H1 and H2) and acceptance of alternative ones. It was therefore recommended that marketers and producers should ensure they design attractive and cost-effective packages to serve as a selling point for their products. Also, management of firms should make sure that their product packages are not deceptive to customers.
KEYWORDS: Consumers; Product packaging, Impact, Sales volume, Consumer, Shopping goods
Rural and Urban Marketing Challenges and their Impact on Nigerian Economy
Bello, Babatunde Sikiru & Abdulsalam, Abdulmutalib Adinoyi
Department of Marketing, Federal Polytechnic, Bida Niger State
This research work is undertaken primarily to explore the Rural and Urban Marketing Challenges and their Impact on Nigerian Economy. Rural marketing in Nigeria is often perceived as depicting agricultural marketing and nothing more. The methodology used for this work is exploratory, personal interviews and questionnaires were used to collect the data that were analyzed using pie charts and degree. All the formulated hypotheses were tested. Hypothesis one, states that prices and monetary exchange ratios do not have significant influence on products of rural and urban markets. Having tested this hypothesis, it was proved that price and monetary exchange ratios have significant influence on products of rural and urban markets. A major finding showed that infrastructural facilities such as bad road network, poor electricity and lack of mechanized agricultural utensils have significant impact on prize of goods and services in Rural and Urban markets in the study area. It was concluded among others that price inflation affects the marketing of goods in the markets to a great extent. The writers recommended that Government should invest in the local production of goods in the rural areas to make available sufficient goods in urban markets at more affordable prices.
Keywords: Rural; Urban; Marketing; Challenges; Impact; Nigeria; Economy
Market Orientation as a Determinant of Small and Medium Scale Enterprises Success
*Ige Azeez Temitope; **Ogongo Sunday Gbenga; & ***Soyingbe Malik Semasa
*Corporate Affairs Information (CAI) Department, National Productivity Centre, Ibadan, Oyo State. **Business Education Department, Lagos State University of Education, Oto-Ijanikin, Lagos State. ***Social Science and Humanities Department, Teaching Service Commission, Yewa North, Ogun State
The study examined market orientation as a determinant of SMEs success in Ogun State, Nigeria. A total sample of two hundred and forty six (246) business owners/managers were used for the study which comprises two hundred and thirty nine (239) small enterprises owners and seven (7) medium enterprises owners. Stratified sampling technique were used to select the sample from each stratum, 30% of Small and Medium Enterprises were selected using random sampling technique. A survey research design was used and data was collected using two designed questionnaires. Statistical method of Regression was used in testing the study’s hypotheses. Results obtained revealed that market orientation significantly influenced small and medium enterprises’ success. Based on the finding of this study, it is recommended that individual small and medium enterprise owners should improve on their information gathering capabilities in order to ensure successes in their businesses. The individual that engages in small and medium enterprise should try and improve on their level of education especially in their areas of interests.
Keywords: Market, Orientation, Determinant, Small and Medium Scale.
Impact of Forensic Accounting Techniques on Fraud Prevention in Microfinance Banks in Anambra State, Nigeria
Mohammed Jimada Bagudu
Department of Business Administration and Management Studies,Federal Polytechnic, Wannune, Benue State
Microfinance banks in Nigeria have been considered as the most vibrant financial institutions in driving down the goal of financial inclusion. The role of microfinance banks in credit mobilization cannot be underestimated in members’ welfare maximization as well as economic growth and development of Nigeria. However, microfinance banks have been confronted with the activities of fraudsters resulting in loss of financial assets and confidence of both customers and members. With the rising cases of fraud recorded in these institutions, the effectiveness of both internal and external auditing techniques adopted by the institutions has been questioned. With respect to this, the impact of forensic accounting techniques was examined on the prevention of fraud in microfinance institutions in Anambra state, Nigeria. Specifically, assessment of relative size factor, data mining and ratio analysis was evaluated on the prevention of fraud in microfinance institutions. Quantitative approach was used on the survey of 69 participants of audit and account staffs of the microfinance institutions. Regression technique was used to evaluated the objective of the study where the findings discovered showed that relative size factor has positive and insignificant impact; data mining has positive and significant impact while ratio analysis has positive and insignificant impact on microfinance institutions fraud prevention. Based on this, the study suggests that the management of microfinance institutions should increase the use of relative size factor technique in fraud prevention. This would allow the institutions room for early detection and prevention of fraudulent activities.
Keywords: Forensic accounting, Fraud, Microfinance Institutions and Banks
Effect of Job Promotion on Employee Retention in Deposit Money Banks in Maiduguri Metropolis, Borno State
*Kurama Modu; & **Alhaji Modu Maina
*Department of Public Administration, Ramat Polytechnic Maiduguri. **Department of Business Administration & Management, Federal Polytechnic Monguno
This study examined the effect of Job Promotion on Employee Retention in Deposit Money Banks in Maiduguri Metropolis, Borno State. The population of the study was 198 respondents with a sample size of 132 respondents obtained using Yamane’s formula. Data was collected using structured questionnaires administered to the respondents. The data collected was analysed using multiple regression analysis with the aid of statistical package for the social sciences (SPSS). The major findings of the study revealed that there is significant effect of promotion on employee retention in deposit money banks in Maiduguri Metropolis. The study concludes that monetary reward offered to employees’ in banking sector leads to timely promotion and play a critical role in determination of their level of retention, where as inadequate monetary reward is percept as major setback to employees retention and this would brought about low performance and high employees’ turnover. Therefore, study recommends that management should endeavour to shows the present of fairness in their monetary rewards as employees are agents who are affected by the promotion, management should also try as much as possible to adopt good and positive retention strategies to increase the morale of the employees toward performance.
Keywords: Job Promotion, Monetary reward, Employee retention, Deposit Money Banks
The Role of Performance Appraisal in Human Resource Management: A Case Study of Benin Electricity Distribution Company (BEDC) Benin City
Dibia, Godwin Chukwuedo; & Egbule, Venatus
Department of Arts & Humanities, Delta State Polytechnic, Ogwashi-Uku, Delta State, Nigeria.
The study interrogates the role of performance appraisal in human management in Benin Electricity Distribution Company (BEDC).The objectives of the study were to ascertain the needs, identify various methods, and explore how performance appraisal has helped in human resources management using the reinforcement theory of motivation to explain the phenomenon under study. Descriptive survey design was adopted for the study while Yemen’s simple random technique was used to obtain the sample size of 96 from a population of 193 workers. Findings from the study indicate that workers of BEDC Benin City do not give maximum service without supervision, that evaluation helps employees to give their best. Furthermore, some workers at BEDC are not properly supervised in spite of the importance of performance appraisal with stems from supervision. Based on the findings, the study recommended that supervision should always be carried out to get the best of workers and improve productivity. Also, performance appraisal should be periodically evaluated in addition to regular training of staff.
Keywords: Performance Appraisal, Management, Human Resources, Organization, Efficiency, Effectiveness, Technique, Employees and Goal.
Motivational Theories of Entrepreneurship and Its Impact on Inculcating Entrepreneurial Spirit in Nigerian Youths
Bello Hassan; & Nasiru Garba Kangiwa
Waziri Umaru Federal Polytechnic, Birnin Kebbi, Kebi State
Nigeria is blessed with abundant natural resources but still suffers from low levels of human development (UNDP, 2018) and is rank 142nd among the 177 countries in 2018. This is deterring the need for a huge effort by the government and stakeholders to make more effort in boosting national human capital, part of which could be achieved through innovation and creativity. To offset these deficiencies key measures taken in Nigeria include the establishment of the first African Institute of Science and accreditation standards and the mandatory scheme for entrepreneurship education across state universities by the National Universities Commission (NUC). These “high-end” initiatives supplement the numerous training programs referred to above suggesting the importance of multiple forms of entrepreneurial support activity necessary for an aspiring and developing economy. In the Americas and Europe, young people are creating million-dollar businesses out of their ideas, and Nigerian youths are just as creative as other young folks in other climes. This paper examines the arguments put forward by three popular theories in entrepreneurship literature, namely, the neo-classic motivation theory of entrepreneurship, the innovation theory, and the alert theory of entrepreneurship, and posits that the assertions made in these theories serve as a source of motivation and inculcate entrepreneurial spirits in the unemployed Nigerian youths.
Keywords: Motivational Theories, Entrepreneurship, Entrepreneur, Entrepreneurial Spirit, Nigeria, Nigerian Youths
A Review of Termination of Employment in the Private Sector in Nigeria
Barr Nzewi Chino Nnenne
Department of Business Administration, Federal Polytechnic Oko
Over the years, the common law has maintained the at-will doctrine which is to the effect that an employer can terminate an employment contract with an employee for good reason, bad reason or no reason at all. By virtue of Nigeria‟s historical ties with the common-law, it adopted this position. The ILO Convention No. 158 on Termination of Employment makes an attempt to put an end to the common-law employment-at-will doctrine by stating that an employer is now required to give valid reasons before termination. In Nigeria, employment in the private sector usually involves that of a master-servant relationship and accordingly, an employer can terminate an employment relationship with an employee by merely giving notice, or payment of salary in lieu of notice, irrespective of the motive. Unfortunately however, this harsh position has worked an untold hardship on employees because of their obvious weaker bargaining power when negotiating employment contracts. The National Industrial Court of Nigeria (the NIC) which is vested with exclusive jurisdiction on labour and employment matters has recently applied the ILO Convention 158 to so decide matters against unfair termination. In the same vein, the Supreme Court and the Court of Appeal, both superior courts have decided certain termination of employment cases relying on the common-law doctrine. This has raised several academic debates particularly as Nigeria has signed the convention but is yet to domesticate it. In light of the above, this paper seeks to review the framework for the termination of employment contracts in the private sector and the applicability of the ILO Convention 158 under the Nigerian constitutional framework. This paper will conclude by suggesting the need for the superior courts to take a definitive position as it relates to termination of employment contracts in the private sector.
Keywords: Termination, Employment-at-will, Common Law, Private Sector and Nigeria.
Effect of Competitive Strategies on Growth of Small and Medium Enterprises in East-Nigeria
Mohammed Mustapha Ibrahim
Department of Business Administration and Management, School of Management Sciences, Abubakar Tatari Ali Polytechnic Bauchi, Bauchi state, Nigeria
The ever changing and turbulent competitive business environment pose major challenges to large auditing firms like any other organization in Nigeria and manager shave been struggling to compete favorably. The specific objectives of the study are to establish the effects product penetration strategy, product development strategy and market development strategy on the SMEs growth in north east, Nigeria.The study adopted a quantitative research with the specific research design being a cross sectional survey design. The population of the study was classified into five states in the north east Nigeria. The sampling frame was 180 SMEs arising five states of which a sample size of 123 SMEs were extensively surveyed to ascertain the impact of competitive advantage on growth of SMEs. The sampling technique used was stratified random sampling. Primary data was collected by use of questionnaires which were administered through drop and pick method. Data screening was done to identify any missing data and it was further tested for reliability and normality. Reliability was tested using Cronbach’s Alpha. Normality was tested using Kurtosis, Skewness and Kolmogorrov Smirnov (K-S) test. Outliers in the data were identified by use of a Stem and Leaf graph. Multicolinearity was also tested and all study variables were found to be free from any multicolinearity. Data was analyzed using SPSS version 24. Descriptive statistics e.g standard deviations and T-tests were used for preliminary tests. Inferential statistics such as Pearson’s correlation, ANOVA and multiple regression analysis were used for further analysis. The key findings were that competitive advantage had a positive influence on the growth of SMEs in north east Nigeria. The study recommends managerial and policy adjustments in line with strategic management practices to enhance competitiveness of SMEs in the north east, Nigeria.
Keywords: Competitive strategy, product development, SMEs
Effect of Petroleum Profit Tax on Revenue Generation in Nigeria
*Agunuwa Ekokotu Vincent (Ph.D); & **Arimitan Omamurhieme Goodluck
*Department of Banking and Finance, School of Business Studies, Delta State Polytechnic, Otefe, Oghara. **Department of Mass Communication, School of Business Studies, Delta State Polytechnic, Otefe, Oghara
The main objective of the study is to unravel the link between petroleum profit tax and revenue generation in Nigeria. This has become important since the impact of the revenue from the oil sector has not been felt as expected in the country. The study covered the period between 1994 to 2021. The co-integration technique and its correction model (ECM) was used in analyzing the data. The Johansen Co-integration test result indicate the existence of a long run equilibrium relationship among the variables. The parsimonious ECM result shows that petroleum profit tax had a positive but insignificant impact on the Real Gross Domestic Product (RGDP). The result indicates that the company income tax had a significant and positive impact with the RGDP. The Value Added Tax had a positive and significant impact on the RGDP. On the basis of these findings, the study recommends amongst others a proper monitoring of figures declared by multinational companies and other operators in the oil industry as petroleum profit.
Keywords: petroleum Profit Tax, Company Income Tax, Value Added Tax, Revenue Generation, Co-integration