ACHANYA Julius John
Department of Public Administration
Federal University Wukari Taraba State, Nigeria
jayjayachanya@gmail.com
MAMMAN Rimamfxen
Department of Public Administration
Federal University Wukari Taraba State, Nigeria
mammanrimanfxen46@gmail.com
ABSTRACT
The persistent fall in revenue which is occasioned by oil market developments, and the attendant increase in fiscal deficit and growing sovereign debt has made tax revenue mobilization an urgent and critical imperative in post COVID-19 Nigeria. The federal government can seldom print as much currency as it pleases and expect that the naira will retain its value, inflation is most likely, and can ruin even the most stable economy. Borrowing requires paying interest at the market rate, and could lead to accumulation of cost of debt servicing that could impinge on development. In like manner, reliance on proceeds from crude oil exports as it were, is suicidal and volatile. This paper focuses on how tax revenue can be improved comprehensively so that fiscal system can deliver on public goods in a sustainable manner. Utilizing secondary data and anchoring analysis on Resource Curse Theory, the paper highlighted the danger of slavish dependence on oil based resources and recommends that the government of Nigeria should broaden its tax revenue base, and cut down the incidences of multiple taxation as the way forward.
Keywords: Covid-19, government spending, sustainable financing, tax revenue