<abstract xmlns="http://www.w3.org/1999/xhtml">

<bold>Research background:</bold> Food production financing in Nigeria has been a source of concern for many years, causing the entire country to experience intense food insecurity as a direct consequence of entirely unnecessary insensitivity to what is needful at a time. This research took all of these misgivings into consideration and aims to figure out the degree to which direct taxes could alleviate this pressure by earmarking more direct tax receipts to farming activities.
<bold>Purpose:</bold> The major and particular objective of this study is to investigate the effect of direct taxation on agricultural financing in Nigeria. For this research, direct taxes such as the hydrocarbon tax, taxable income of individuals, and corporate income tax are used.
<bold>Research methodology:</bold> The evaluation is carried out by collecting secondary data from the Organization for Economic Cooperation and Development (OECD) on selected direct taxes and agricultural outlay from the Central Bank of Nigeria’s Statistical Bulletin. The study runs from 2012 to 2021. The research utilizes a multiple regression strategy.
<bold>Result:</bold> The findings demonstrate that all of the direct tax types examined have a negligible impact on agricultural funding. This leads to the suggestion that Nigerian tax rules be modified to allow for a significant use of tax revenue for agriculture.
<bold>Novelty:</bold> Investigations on agricultural financing through tax receipts have been scarce. This study adds to the small amount of literature in this area and has empirically established the need for an emerging nation to have a tax system that will meet the investment requirements of agricultural productivity.
</abstract>

Research background: Food production financing in Nigeria has been a source of concern for many years, causing the entire country to experience intense food insecurity as a direct consequence of entirely unnecessary insensitivity to what is needful at a time. This research took all of these misgivings into consideration and aims to figure out the degree to which direct taxes could alleviate this pressure by earmarking more direct tax receipts to farming activities.
Purpose: The major and particular objective of this study is to investigate the effect of direct taxation on agricultural financing in Nigeria. For this research, direct taxes such as the hydrocarbon tax, taxable income of individuals, and corporate income tax are used.
Research methodology: The evaluation is carried out by collecting secondary data from the Organization for Economic Cooperation and Development (OECD) on selected direct taxes and agricultural outlay from the Central Bank of Nigeria’s Statistical Bulletin. The study runs from 2012 to 2021. The research utilizes a multiple regression strategy.
Result: The findings demonstrate that all of the direct tax types examined have a negligible impact on agricultural funding. This leads to the suggestion that Nigerian tax rules be modified to allow for a significant use of tax revenue for agriculture.
Novelty: Investigations on agricultural financing through tax receipts have been scarce. This study adds to the small amount of literature in this area and has empirically established the need for an emerging nation to have a tax system that will meet the investment requirements of agricultural productivity.

Direct Taxes and Agricultural Finance

onyinyechi.omodero@covenantuniversity.edu.ng

opeyemiajetunmobi@covenantuniversity.edu.ng

Ph.D. Department of Accounting, College of Management and Social Sciences

College of Management and Social Sciences Covenant University Ota

Folia Oeconomica Stetinensia

This work is licensed under the Creative Commons Attribution-ShareAlike 4.0 International License.

{"article-title":"Direct Taxes and Agricultural Finance"}

Research background: Food production financing in Nigeria has been a source of concern for many years, causing the entire country to experience intense food...

Direct Taxes and Agricultural Finance

Published Online: Dec 20, 2022

Page range: 180 - 192

Received: Dec 24, 2021

Accepted: Sep 18, 2022

DOI: https://doi.org/10.2478/foli-2022-0025

Keywords
Individual taxable income, hydrocarbon tax, firms’ profit tax, agronomic funding

© 2022 Cordelia Onyinyechi Omodero et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-ShareAlike 4.0 International License.

Direct Taxes and Agricultural Finance

Published Online: Dec 20, 2022

Page range: 180 - 192

Received: Dec 24, 2021

Accepted: Sep 18, 2022

DOI: https://doi.org/10.2478/foli-2022-0025

KeywordsIndividual taxable income, hydrocarbon tax, firms’ profit tax, agronomic funding

© 2022 Cordelia Onyinyechi Omodero et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-ShareAlike 4.0 International License.

Keywords
Individual taxable income, hydrocarbon tax, firms’ profit tax, agronomic funding