THE REALITIES OF PRIVATIZATION AND COMMERCIALIZATION ON NIGERIAN ECONOMY

THE REALITIES OF PRIVATIZATION AND COMMERCIALIZATION ON NIGERIAN ECONOMY

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

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

CHAPTER TWO

REVIEW OF RELATED LITERATURE                               10

1. MEANING OF PRIVATIZATION AND-

COMMERCIALIZATION                                         10

1. ORIGIN OF PRIVATIZATION AND –

COMMERCIALISATION                                         14

1. PROBLEM FO PRIVATISATION AND –

COMMERCIALISATION                                         16

1. PROSPECTS OF PRIVATISATION AND –

COMMERCIALISATION                                                 22

CHAPTER THREE

1. FINDINGS                                                          26
2. CONCLUSION                                                     28
3. 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.

THE REALITIES OF PRIVATIZATION AND COMMERCIALIZATION ON NIGERIAN ECONOMY