The debate of whether nigeria should embark on privatization resonated throughout the regime of buhariidiagbon until general babangida in his 1986 budget speech announced governments intention to divest its holdings in certain key sectors of the economy and subsequently promulgated the privatization and commercialization act no. Economic reform measures in nigeria commercialization. The impact of privatization and commercialization on nigerian economy 19852010 the impact of privatization and commercialization on nigerian economy 1985 2010 abstract the ultimate goal of any credible and legitimate government is to ensure sustained improvement in the standard of living of the citizenry. The scope of this research work focused strictly on the effect of privatization and commercialization programmes on the nigerian economy 1970 to 2010. Granted the recent global financial meltdown that reared its ugly head in america and that has spread to parts of europe, privatisation now becomes a victim of inherent contradiction that produces its. The measures tend to favour the rich who have the money to buy shares in the business and the inflation caused makes the poor to become poorer and the rich becomes richer, it is not advantageous to the poor. University of nigeria research publications amalime, sylvia ebele author pgmba9720690 title the impact of privatization and commercialization policy in nigeria.
Nigerian economy, petroleum products, privatization and commercialization 1. Commercialization refers to the process of turning a free activity into a paid one or introducing a product that begins to sell whereas it was earlier free. Daramola abstract the emergence of privatization as a major public policy issue is a recent phenomenon. Effect of privatization and commercialization on the nigerian.
Evaluation of privatization policy in nigeria 1999 2004. Mar 02, 2019 benefit of privatization and commercialization on nigeria economy marketing focus uthman saheed march 2, 2019 businesspublic admin project materials download complete final year project materials for the benefit of privatization and commercialization on nigeria economy marketing focus from chapter one to five with references and. Problems associated with privatization, commercialization and deregulation. The nigerian debate on privatisation has been ongoing for quite some time. The impact of privatization and commercialization on nigerian economy includes abstract and chapter one, complete project material available the impact of privatization and commercialization on nigerian economy 19852010 abstract the ultimate goal of any credible and legitimate government is to ensure sustained improvement in the standard of living of the citizenry. Power holding company of nigeria limited, a public enterprise was established, financed and managed by the federal government of nigeria. In a developing country like nigeria, privatization and commercialization of public enterprise is considered by many as a vital tool for the growth and development of the economy. The impact of privatization and commercialization on nigerian economy includes abstract and chapter one, complete project material available the impact of privatization and commercialization on nigerian economy 19852010 abstract the ultimate goal of any credible and legitimate government is to ensure sustained improvement in the standard of living of the. The privatization and commercialization of nigerian enterprises today, faces a lot of challenges in tackling the menaces of corruption and mismanagement of public funds.
Commercialization and privatization policy in nigeria. Article information, pdf download for privatizationcommercialization of. Privatization refers to taking government control in many activities and selling them to private enterprise. Then, due to inadequate capital and lack of finance, public enterprises in nigeria are confronted with many problems by the employees, managers and political interference in affairs of public enterprises.
Commercialization and privatization policy in nigeria seahi. While there was the need for commerce and industries to be indigenised after the nigerian civil war 1967 1970 to allow the. Privatization issues this section addresses the issues, and the decisions which governments themselves must make prior to embarking upon a privatization process. Nigeria has had a long history with privatization, one of the most recent of which being the privatization of nepa.
The effects of privatization and commercialization policy on. Institute of advanced legal studies, lagos, nigeria, p. Arising from the above, empirical evidences points to the global acceptability of privatization policy. Privatisation in nigeria has not been a popular and an accepted reform. In nigeria some of the problems facing privatization and commercialization program include. Other factors that accelerated the growth of nigeria. In recent times in nigeria, there has been a policy shift to the commercialization andor privatization of public enterprises. Apr 29, 2017 in a developing country like nigeria, privatization and commercialization of public enterprise is considered by many as a vital tool for the growth and development of the economy. Home topics business administration and management project topics pdf privatization and commercialization in nigeria. Nigeria, the telecoms company and the fiscal impact of the whole privatization process on the nigerian economy and labour market.
Public enterprises privatisation and commercialisation act arrangement of sections part i privatisation and commercialisation of public enterprises section 1. Government chose public sector as a means or medium for economic and social development. An assessment of nigerian telecommunications ltd faculty business administration department management date march, 2004 signature. Privatizationcommercialization of stateowned enterprises in. It has received so much criticism from labour, academia and individuals. What is the difference between commercialization and privatization. The study also carried out its test using tstatistics in other to capture the pre and post effect of privatization and commercialization of the nigerian economy. Difference between privatization and commercialisation answers. The impact of privatization and commercialization on nigerian. The privatization and commercialization decree of 1988 in ugbo 2003.
The government should create an environment favorable for private economic activity. Difference between commercialization and privatization. The focus of this study was on the impact of privatization and commercialization on the economy of nigeria. Pdf the impact of privatization and commercialization in nigeria. Doc privatization and commercialization in nigeria. Problems and prospects of privatization in nigeria. Privatization can be defined as the transfer of ownership and control of enterprises from the state to the private sector. It is because of social issues like economic inequalities, unemployment that made the state to interfere in economy of nigeria.
Privatization and commercialization of nigerian national petroleum. The effect of privatization on economic growth of nigeria. Although the onosode commission 1982 and the study group set up by the buhari administration 1984 both recommended the. Benefit of privatization and commercialization on nigeria. Privatization and commercialization of public enterprises.
The impact of privatization and commercialization on the. Benefit of privatization and commercialization on nigeria economy marketing focus uthman saheed march 2, 2019 businesspublic admin project materials download complete final year project materials for the benefit of privatization and commercialization on nigeria economy marketing focus from chapter one to five with references and. In this article, we shall define economy and privatization and then list the methods of privatization, give a brief history of privatization in nigeria, offer reasons why successive governments embarked on the privatization of public enterprises, discover whether the problems outweighed the benefits, discuss the present outlook, share success stories and then roundoff. Pdf privatization and commercialization researchgate. Lack of accountability corruption lack of transparency inconsistency. Privatization and commercialization of public enterprises in nigeria an appraisal of telecommunication abstract it is because of social issues like economic inequalities, unemployment that made the state to interfere in economy of nigeria.
As iheme 1997 has argued privatization is a means of ensuring efficient management of the economy through the involvement and domination of. Nigerias economic crisis of the 1980s called into question two major aspects of its. Privatization of public enterprises and productivity. Abstractprivatization and commercialization of federal governments parastatals and business appear to be the most current topical issue in our national consciousness. Nigerian public corporations under obasanjoatiku regime is one of the major economic obstacles. Privatization in nigeria was introduced by the privatization and commercialization decree of 1988 as part of the structural adjustment programme sap of the babangida regime 19851993. The project title is the policy of privatization and commercialization of public enterprises in nigeria. Abstract both in developed and developing countries, privatization and in some cases commercialization have grown in popularity and acceptability. This study examined the effect of privatization and commercialization of the nigerian economy for a period of 35 years from 19802015 using simple regression analysis. The paper utilized both primary and secondary sources of data and data collected were descriptively analyzed. Privatization and commercialization in nigeria will be a mirage unless institutional reforms take place. The constitutional provisions for the control of the national economy are contained in chapter 11 of 1991 constitution which, interalia state the fundamental objectives and directive principle of state policysection of chapter 11 makes it an obligation for the state allorges of.
Privatization and commercialization of public enterprises in nigeria with abstract, chapter 15, references and questionnaire. Privatization and commercialization of public enterprises in. It has also become an important instrument that government can use to promote economic development. Privatisation generally refers to the process where businesses or assets which were formerly owned by the people i. Privatization and commercialization of nigerian national. Public enterprises privatization and commercialization act no. Introduction the first formal privatization programme of the federal government of nigeria is dated back to 1988, under the technical committee on privatization and commercialization tcpc and it was backed by decree no 25 of july, 1988.
The initial groundwork and clarification of objectives recommended herein should enable. An assessment of nigerian telecommunications ltd faculty business administration department management date. Nigeria, has revealed that over two decades old privatization of public enterprises in nigeria since 1988 had significant positive effects on the economy and the polity in the first place. Privatization has several benefits such as reduced government bureaucracy, reduced state monopolies and financial structures, increased competitiveness, increase in quality of goods and services reduce corruption and control by government, increase staff quality and supervision, improve market analysis, free up government funds for more pressing problems, create employment, reinvigorate the. Compelled by deepening economic crisis and pressure from its international creditors, the babangida administration in 1987 introduced economic reform measures that included privatization and commercialization of soes. The effect of privatization and commercialization on the. Pdf the impact of privatization and commercialization in. This research work will help the government and reader understand those benefits that privatization and commercialization program embodies which we have neglected and politicized within the past.
Government chose public sector as a means or medium for economic and social development due to. The constitutional provisions for the control of the national economy are contained in chapter 11 of 1991 constitution which, interalia state the fundamental objectives and directive principle of state policysection of chapter 11 makes it an obligation for the state allorges. Privatization and commercialization act of 1999 which created the national council on privatization exercise in nigeria, but till date the process has failed to translate to higher productivity and act as a stimulant to the economic growth of the nation as expected adeyemo and salami, 2008. As iheme 1997 has argued privatization is a means of ensuring efficient management of the economy through the involvement and domination of the private. See federal republic of nigeria, report of the presidential commission on parastatals, lagos, federal government press, 1981, p 63 see also amupitan j private placement method of privatization in nigeria in new vista in law, vol. The inappropriate privatization and commercialization of the. Government chose public sector as a means or medium for economic and social development due to poor managerial skill, weak technological base etc, this. In the same vein, commercialization is defined as the process of making stateowned enterprises to become purely profitoriented enterrises.
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