REVITALIZATION AND COMMERCIALIZATION EFFECT ON NIGERIAN ECONOMY

Privatization and commercialization Act No.28 of 1999 outlines the policy’s objectives as: - i. To gradually hand over to the private sector those public enterprises, which they are better in managing. ii. To expose the country to international competition so as to acquire new knowledge and technology iii. To raise fund for financing social economic development such as health, education and other infrastructural facilities iv. To reoriented the enterprise towards perfect improvement and al efficiency v. To ensure private return on public sectors investment through more efficient management vi. To check the present dependence on the treasury of finding by commercially oriented parastatals by ensuring that their fund requirement are sourced from Nigerian stock exchange instead of subversion from government. vii. To actualize these objective the national council on privatization was established with established with twelve (12) members, however the actual implementation of the programme is by the Bureau of public enterprises (BPF).