Managing Privatization for Economic Benefits of Nigeria
– Managing Privatization for Economic Benefits of Nigeria –
ABSTRACT
Organizations must keep pace with the modern world of enterprises and industry. In the second world, state corporations still account for more than half of the industrial output and in the far advanced third world, societies are being shaped by market economies.
This involves privatizing what has once nationalized industries and removing major obstacles to trade.
Privatization when well-conceived is the process whereby state-owned enterprises are sold to entrepreneurs who will compete without any official projection.
For it to benefits society, there must be true nationalism, honesty of purpose, initiative, and a sense of responsibility to society. Therefore, enterprises and suggest ways through which privatization of this enterprise can be carried out.
The procedures adopted in carrying out the research are mainly historical and analytical. The sources of the data collected are both primary and secondary.
The hypothesis of this study will be tested on the basis of the data collected and these tests will be conducted through the use of Chi-Square (x2) tests.
The project state why public enterprises are inefficient, the need to privatize them, and the implication of privatizing them, as can be inferred from chapters I-iv.
The Federal Government is embarking on the privatization of state-owned enterprises as a way of putting the Nigerian economy on the path of sustainable development.
The objective is to realign our economy with the global trend by restructuring the public sector in a manner that will affect a revitalized, efficient, and service-oriented sector. So far, privatization in Nigerian can be said to be a curse than a blessing.
It has neither generated innovative entrepreneurial spirit among the few who bought the public enterprises with an unearned income nor in any way increased the general productivity of Nigeria.
Therefore, some recommendations to ensure the successful privatization and efficiency of these enterprises were advanced and the researcher concluded accordingly.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of Contents vi
List of Tables ix
List of Figures x
CHAPTER ONE: INTRODUCTION
1.1 Background of Study 1
1.2 Statement of the Problem 4
1.3 Objective of the Study 6
1.4 Hypothesis Formulation 7
1.5 Limitation of the Study 7
1.6 Significance of Study 8
1.7 Scope of the Study 9
References 10
CHAPTER TWO: REVIEW OF THE RELATED LITERATURE
2.1 Nature of Public Enterprises 19
2.1. What is Public Enterprises 19
2.1.2 Political Objectives 21
2.2 Aim of Setting Up Public Enterprises in Nigeria 21
2.2.1 Socio-Economic Objectives 21
2.2.2 Strategic Objectives 23
2.3 Causes of Poor Performance of Public Enterprises 23
2.3.1 Economic Factors 24
2.3.2 Socio-Political Factors 27
2.3.3 Operational Technical Factors 30
2.3.4 Administration Factors 31
2.4 Reason for the Privatization Policy 33
2.5 Process of Privatization 42
2.6 Implications of Privatization of Public Industries in Nigeria 44
2.6.1 Economic Implication 44
2.6.2 Socio-Political Implication 47
2.6.3 Economic 49
2.6.4 Socio-Political Implications 50
2.7 Problems Envisaged 52
2.7 Problems Envisaged
References
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research Design 55
3.2 Source of Data Collection 55
3.3.1 Primary Sources 56
3.3.2 The Secondary Sources 56
3.3 Method of Data Presentation 57
3.4 Method of Data Analysis 57
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Presentation of Data and Analysis 59
4.2 Test of hypothesis 70
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 Summary of findings and Conclusion 75
5.2 Recommendations 77
Bibliography
INTRODUCTION
1.1 Background of the Study
It is common knowledge that the economic depression of the late 1980s with its severe consequences led to a situation where governments, which usually had no business in running enterprises, dabbled into business.
Consequently, governments all over the world especially those in developing countries embarked on the establishment of public enterprises.
This trend arguably lends credence to the Keynesian, underdevelopment and dependency theories.
When Nigeria attained political independence in 1960, she had a weak industrial base, near absence of basic infrastructures, an agricultural sector producing mainly primary products for export, and gross inadequate capital and technological base. To say the least, the economy was very weak.
Based on the three theories (the Keynesian, the underdevelopment and the dependency) and with the objective in mind to stimulate and accelerate national income development.
Coupled with the danger of leaving vital sectors of the national economy to the whim and caprices of the private sector who often than not are under the direct and remote control of foreign large scale industrial concerns, made the creation of public enterprises in Nigeria became a variable option.
In an attempt to pursue these objectives and prompt the economy, the government over the years has involved itself in the direct productive and other sundry activities that really ought to be left in the hands of the private sector.
BIBLIOGRAPHY
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