Ikhide Ejededawe EIGBE

The study empirically investigates the relationship between tax planning and firm value in Nigeria. The study covered a period of ten years (2011-2020) using data for nine listed oil and gas firms in Nigeria. Five variables (effective tax rate, tax savings, firm size, leverage and capital intensity) were used as the explanatory variables. The panel least squares technique was specifically employed to examine the nexus between these explanatory variables and firm value in Nigeria. The empirical results revealed that: effective tax rate has a negative and insignificant relationship with firm value of oil and gas firms in Nigeria; tax savings has a negative and significant relationship with firm value of oil and gas firms in Nigeria; capital intensity has a positive and insignificant relationship with firm value of oil and gas firms in Nigeria; leverage has a positive and significant relationship with firm value of oil and gas firms in Nigeria; and firm size has a positive and significant relationship with firm value of oil and gas firms in Nigeria. Against the backdrop of the foregoing findings, the study recommended the maximization of tax deductions that will lower their tax rates as well as increasing leverage ratios for oil and gas companies in Nigeria.