THE EFFECT OF GOVERNMENT POLICY ON PRIVATIZATION AND COMMERCIALIZATION ON NIGERIAN ECONOMY

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THE EFFECT OF GOVERNMENT POLICY ON PRIVATIZATION AND COMMERCIALIZATION ON NIGERIAN ECONOMY

ABSTRACT

The major purpose of this study is to ascertain the effect of privatization and commercialization on nigeria economy using power holding company of nigeria ekwulobia as a case study. the reason behind using the power holding company of nigeria is because it is one of the public enterprises that its product has the widest consumption. the population of the study consisted of 254 workers in phcn ekwulobia anambra state. the sample size was determined using yaro yamene formular. the sample of 155 out of 254 was drawn using simple random sampling. five research questions were formulated which guide the study. a structured questionnaire was developed and validated for use. table and percentage were used to answer the research questions. the major findings of the study were: (1) there is general discontent by the public about phcn’s service (2) there was serious fluctuating power supply from late 1992 to date (3) political instability has contributed to the problems of phcn (4) phcn has not registered as a public limited company. it was concluded that: based on the findings of the study, the following conclusions were made. (i) the general public were dissatisfied with the poor services of the power holding company. (ii) the serious fluctuation in the supply of power by the power holding company was caused by breakdown of the power holding company’s power station at egbin. (iii) political instability in our country has made it difficult for the successful privatization of power holding company’s. based on the findings of this study and the conclusions drawn from it, the following recommendations were made. (i) company holding company of nigeria should establish a good public relation by improving on their quality of service. (ii) there should be total rehabilitation and frequent maintenance of the power stations and other electric generating equipment so as to solve problem of fluctuation. (iii) the frequent change in the government should be curtailed or minimized so as to enable efficiency and effectiveness in the performances of power holding company of nigeria. (iv) efforts should be made by the government and stakeholders for the successful commercialization of power holding company of nigeria.

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