ECONOMIC DEVELOPMENT

This study examines the effect of Boko Haram terrorism on the Nigerian economy. Boko Haram insurgency, which has persisted primarily in the northeastern region of Nigeria, has resulted in widespread insecurity, loss of lives, destruction of property, and disruption of economic activities. The insurgency has negatively impacted key sectors of the economy, including agriculture, trade, education, and infrastructure, thereby hindering national development and reducing investor confidence. The study adopts a descriptive survey research design and relies on both primary and secondary data sources. Primary data were collected through structured questionnaires administered to affected communities, business owners, and local government officials, while secondary data were obtained from journals, reports from the National Bureau of Statistics (NBS), the Central Bank of Nigeria (CBN), and publications on national security. Data were analyzed using statistical methods to determine the economic consequences of the Boko Haram insurgency. The findings reveal that Boko Haram terrorism has significantly disrupted economic activities, reduced agricultural production, increased unemployment, discouraged foreign and local investments, and contributed to the diversion of government funds from development projects to security expenditures. The study concludes that terrorism poses a severe threat to Nigeria’s economic growth and stability. It recommends the implementation of stronger security measures, socio-economic development programs in affected regions, and effective counter-insurgency strategies to mitigate the adverse economic effects of terrorism.

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.