THE REALITIES OF PRIVATIZATION AND COMMERCIALIZATION ON NIGERIAN ECONOMY

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ABSTRACT

The project on the realities of privatization and commercialization on the Nigerian Economy is an evaluation and digestion of the newly introduced system of privatization and commercialization with an insight view on it’s effects, merits, demerits, problems and prospects.

To achieve this objective, the project is divided into three chapters and some preliminary pages for classification.

Chapter one, deals with the introduction by establishing the objective of the study, and statement of problems, and giving definition of relevant term etc.

Chapter two, is the theoretical framework of the project. It is divided into five sub-headings for easy referencing. It consist of extracts, and information from related literatures like newspaper, journals, textbooks etc. It forms the basis on which the findings are deduced.

Chapter three, is made up of the findings, conclusion and recommendation, that is the deduction made at carrying out the literature review, and the researcher having been through the project, were in a position to say few things on the effect and to make recommendation based on the literature review.

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION                                                              1

• BACKGROUND OF STUDY 1
• STATEMENT OF PROBLEM 2
• OBJECTIVE OF PROBLEM STUDY 3
• SIGNIFICANCE OF STUDY 5
• SCOPE AND LIMITATION OF STUDY 7
• DEFINITION OF TERMS 8

CHAPTER TWO

REVIEW OF RELATED LITERATURE                          10

• MEANING OF PRIVATIZATION AND-

COMMERCIALIZATION                                            10

• ORIGIN OF PRIVATIZATION AND –

COMMERCIALISATION                                            14

• PROBLEM FO PRIVATISATION AND –

COMMERCIALISATION                                            16

• PROSPECTS OF PRIVATISATION AND –

COMMERCIALISATION                                            22

CHAPTER THREE

• FINDINGS                  26
• CONCLUSION 28
• RECOMMENDATION 28

 

CHAPTER ONE

INTRODUCTION

BACKGROUND OF STUDY

It might be necessary to define from onset what privatization and commercialization means.

A functional definition of privatization is the transfer of ownership of public enterprises to private hands. This means that the government, which has the only or major shareholder in these enterprises, would divest itself of its holding and pass it over to the Nigerian individuals, associations and organization, to own and manage in order to give the enterprises a new lease of life by turning them around.

Commercialization on it’s own simply means that the government, whilst retaining ownership, will hands off the funding and management of these enterprises, leaving them to tend for themselves with whatever expertise they may have with this arrangement.

 

STATEMENT OF PROBLEMS

The introduction of privatization and commercialization on Nigerian Economy poses a lot of questions in the inquisitive minds of most people as to the “Why” and “how” of the introduction.

This brings about reactions from various sectors of the economy. These reactions are the problems this research work is going to face or address itself to.

 

WHY PRIVATISE?

The poor situation of the nation’s economy has compelled the government and people of this great country to continue to search for a better or viable solution. The nation’s ailing economy has been brought about by a number of internal and external factors which includes:-

1. The oil and the concomitant decline in oil price;
2. The unprecedent huge external debts into which the national has been plunged;