The study examined the effect of taxation on revenue generation in Nigeria. The study was principally anchored on Social political theory. Ex-post facto research method was used to achieve the study objectives. The study covered all taxes collected by Federal Government of Nigeria which includes personal income tax, petroleum profit tax, value added tax and company income tax. The study made use of secondary sources of data collected mainly from the Federal Inland Revenue Services and National Bureau of Statistic. The Engel-Granger approach to cointegration was used in testing the relationship between revenue generation and taxation. The findings revealed that there is a positive and statistically significant relationship between petroleum profit tax, personal income tax, company income tax, value added tax on revenue generation in Nigeria. This implies that increases in the various sources of tax lead to increase in revenue generation in Nigeria. In conclusion, the study found that personal income tax, company income tax, petroleum profit tax and value added tax have positive and significant effect on revenue generation in Nigeria. The study therefore recommended amongst other things that, efforts should be made to widen the tax net in Nigeria via aggressive campaign and punitive laws for the punishment of erpetrators of tax evasion and tax avoidance.