ABSTRACT
The effect of privatization and
commercialization in Nigeria
economy I propose to research and find out some of the effect of privatization
and commercialization on Nigeria
economy.
This project is divide into three
chapters, chapter one highlights on the introduction part which expand the
privatization and commercialization as
economic policy garnet toward reelecting Government it, hold on direct
participation in economic operation of the country.
The second chapter engaged in to
dearly discussion of the objective of the policy, which has to do with the
handling to private sector these public enterprises, which they can manage
better.
The third chapter, having had a
critical look on the programme and observation implementation problem, you now
see that the exercise which the serval major enterprise. Listed for
privatization have been take of the list including rolling mills fertilize etc.
Summery and conclusion, the
engine of the economy and industries growth in the modern society is the
privatization and commercialization.
TABLE
OF CONTENTS
TITLE
PAGE
APPROVAL
PAGE
DEDICATION
ACKNOWLEGEMENT
ABSTRACT
CHAPTER
ONE
INTRODUCTION
1.1.
BACKGROUND
OF THE STUDY
1.2.
STATEMENT
OF THE PROBLEM
1.3.
OBJECTIVE
OF THE STUDY
1.4.
THE
IMPORTANCE OF THE STUDY
1.5.
THE
DEFINATIONS OF IMPORTANT TERMS
1.6.
REFERENCE
CHAPTER
TWO
2.0
PRIVATIZATION
AND COMMERCIALIZATION
INGERIA
2.1
OBJECTIVE
OF THE POLICY
2.2
THE
EFFECT OF PRIVATIATION AND COMMERCIALIZATION
2.3
SOLUTION
TO THE PROBLEM GOVERNMENT OWN BUSINESS
2.4
SUMMARY
2.5
REFERENCE
CHA PTE THREE
2.6
COCLUSIN
2.7
DATA
PRESENTATON
2.8
ANALYSIS
OF THE DATA
2.9
RECOMMENDATION
2.10
CONCLUSION
REFERENCE
CHAPTER
ONE
INTRODUCTION
BACKGROUND
OF THE STUDY
Decree 100.25 of 1998 Nigerian
constitution define privatization as the handing over of on or part of the
equity and other interests hold by federal government of or its urgency in
enterprise whether wholly or partly owned by federal government to private
individual. Hence it’s the process of transferring public enterprises and government
parietal from state ownership to private individual or organization.
Commercialization as it’s defined
in decree No. 25 pf 19988 constitution is the reorganization of public
enterprise wholly or partly centered by Federal government in which such commercialized
enterprise will be allowed by government to charge for it product or services
price as may be determined by market forces.
Therefore privatization and
commercialization is the economic policy that holds government back form direct
participation in economic operation of its country. By doing this, private
investment as against public investment will determined economic factor and the
industrial development of such country. While the government will focus it
attention and duty bound to create enabling environment for such investment to
thrive.
As a result of this, the
developing counties of Africa and Asia are
advised by the developed countries of the world who hade actually had a
positive taste of its benefit, to adopt this system in order to employed
development.
1.2
STATEMENT
OF THE PROBLEM
Due
to administrative problem encounter by the public sector enterprise (PSE) in
Nigeria over the years, necessitated the setting up of a study group by
mohammadu Buhari Administration in 1984, headed by Ali- Al-Hakin then managing
director and chief Executive, Bank of the North. The group revived the Glancing
profitability and performance of (PSE). And submitted its report on November
29, 1984. In this report, it was discover that the following listed below were
the major problem identified:
(i)
Vague
and conflicting objectives
(ii)
Inadequate
autonomy
(iii)
Infeasibility
in decision-making process
(iv)
Inappropriate
capital structure
(v)
Under
utilization o f available resources/assets
(vi)
Absence
of good credit control system
(vii)
Inability
to recover debts.
(viii)
Lack
of adequate cost control measure
(ix)
Ineffective
and inefficient management
(x)
In
effective and ineffective information and accounting system
(xi)
Absence
of financial and operational performance targets.
(xii)
Over
staffing.
Based
on these findings, government was advised to commercialize some of the public
enterprise and privatize the unviable PES.
The apprehension was that privatization might give birth new class of
millionaires detrimental to National economy. As a result, therefore a body
called technical committee on privatization and commercialization was
instituted in 1989. This (T.C.P.C.) was formerly established in 1998 see 3(2)
of the constitution. It was empowered to work out moralizes autonomous
operation of commercialized parasitical or organizations. These relationships
with the government through relevant ministries are on a similar basis as that
of management with shareholders.
1.3
OBJECTIVE
OF THE STUDY
(i)
The
paramount aim of this study is to ensure positive, effective and efficient
productivity.
(ii)
To
give meaningful recommendation on how to standard of living in Nigeria
(iii)
To
eradiate the various obstacles that militate against economic growth in Nigeria.
(iv)
To
create appropriate capital structure
(v)
To create a stabilize economy system to meet
up the world standard.
(vi)
To
enable government to focus its attention in good governing and as well create
enabling environment for the business men/organization to practice their
profession.
(vii)
To
suggest avemes of active improvement which could be meaningful to our
policy makers.
1.4
IMPORIANCE
OF THE STUDY
There
are so many importance and benefit to this study such include
i.
The
gradually handing over of public enterprise to the private sectors whom are
believe to manage them better because it is their field and profession.
ii.
To
attract foreign investors to come and invest in Nigeria.
iii.
To
creat move job opportunities which will help in reducing or minimizing the high
rate of unemployment in our country
iv.
To
promote international competition which enable Nigeria to acquire knowledge and
technology.
v.
To
generate revenue which enhance the government social economic development in
all part of the country.
vi.
To
develop a capital market
1.5
DEFINATION
OF IMPORTANT TERMS
Some of these corms include the following privatization,
commercialization, economic development, utilization of resource and finally
asset.
PRIVATIZATION
Ralph
Nwatu (2001:95). Privatization means the relinquishment of part or all of the
equity and other interest held by federal government, and or its agency in
enterprise whether wholly or partly own by federal government, and private hall
be construed accordingly†(111.14). there it is believe that private individual
and organization should allow to be doing what they know to best
Commercialization;
is defined as the reorganization or reconstruction of public owned corporation
into profit making. The public enterprises which was formallyment not to make
profit are now given go a head to make as much profit as it’s could.
Economic/industrial development, this simply implies the improvement in
production technigues and in the consumption choices open to average citizen
and in the health of the citizen of the etc. it is also means the increase in
the economy capability to produce the right guantity, the right quality, the
right time and this is measured by the rate of increase in it’s grows national
product [G N D] and as well grows domestic product [G D P] which is the total
amount of the final good and services produce in such a country.
UTILIZATION OF AVAILABLE RESOURCE
This
entails the making good use of the available resource for
Effective and efficient productivity of good
and services.
Asset
the are those properties of the business organization use for the production.
1.6
REFERENCE
Nigerian
constitution Dcree No 28 of 1988
Olewe
B.N. (1995) Development Administration Aba,
Grace
Books Aba.
Ralph Nwatu (2001) Principle of development
Administrationâ€
Emagu computer edge publishers
Satya
deva (1974) “thorny of Administration†economic and political weekly review of
argument. November 1982.
Correction
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