Taxation as a Catalyst for Sustainable National Development: Whither Nigeria

Abstract

This paper appraised the concept of National Development and the newer concerns of its Sustainability. The paper thereupon considered Taxation as a major instrument towards attaining Sustainable National Development and concluded that taxation is in fact a catalyst for Sustainable National Development. True as this is, the paper submits that same as a pistol is a dependable war piece only in the arsenal of a skilled sniper, the gains of taxation in the drive towards sustainable National Development is equally subject to certain variables such as the general tax policy of the state, the administrative efficacy and the overall perceived equity of the state’s tax system. Upon this premise, the paper considered the Nigerian tax system vis-a-vis the resolve of the nation to achieve Sustainable Development particularly in the guise of the SDGs, 2016 and concluded that although there is no contention on the positive relationship between taxation and Sustainable National Development and though Nigeria as a country given its population and vast natural resources and a robust investment framework stands fairly placed to maximally utilize this instrument towards sustainable development, a lot more still remains undone as the country is still far from applying the tax tool in a manner as to fully tap its enormous wealth. The major set-backs of the Nigeria tax system were identified and recommendations were made on standard approaches towards Nigeria’s appreciation and application of Taxation as a catalyst for Sustainable National Development.