THE IMPACT OF PRIVATIZATION ON THE ECONOMY DEVELOPMENT
CHAPTER ONE
Introduction
1.1 Background Of The Study
In the era of post colonialism, Nigeria has at one time or another, embarked upon certain policies that have political economic implications. For instance, from 1960 to date, Nigeria has introduced indigenization and nationalization policy, operation feed the Nation (OFN), Austerity measure, structural adjustment programme (SAP), Deregulation of oil sector, Resource control Privatization and commercialization of public enterprises to mention but a few. The critical question here remains. How many of these policies have been able to restructure the political economy of Nigeria to the tune of alleviating the yearnings and aspirations of the working class.
The world no doubt is moving towards capitalization and any nation that is not moving towards this direction is seen as either not developing or even retrogressing. A capitalist economy is a free market economy which allows most economic decisions to be guided by the twin forces of demand and supply. Since capitalization discourages monopoly but encourages competitive market, it therefore enhances efficiency and high productivity which is very vital in any developing country’s economy. In Nigeria, most government owned industries and establishments remain citadels of corruption, studies in efficiency and consequently a heavy drain on the economy. As a means of curbing this menace, the Brettonwoods institutions (IMF & WORLD BANK) have advocated the twin policies of privatization and commercialization.
1.2 Statement Of Problem
Privatization and commercialization of public enterprises is a vital tool for the upliftment of a country’s economy, more especially the developing countries like Nigeria. Regrettably, the problems facing this privatization and commercialization program is implementation of privatization policy and the administrator of privatization and corruption.
However, it is based on these problems that the basic propositions of this privatization and commercialization program are being hindered. In trying to look into these discrepancies and proffer a way forward towards a positive state of privatization and commercialization of public enterprises in Nigeria, this research work emanated.
1.3 Objectives Of The Study
- To determine the impact of privatization on Nigerian Economy
- To determine the post privatization effect on Nigerian economy.
- To make a comparative analysis of what innovations the policy has brought into the economy.
- To assess the factors that led to the privatization and commercialization of these public co-operations and its origin. Thirdly, this work will also evaluate the various privatization and commercialization programs embarked by the Nigerian government from 1988 to 2010.
1.4 Research Questions
This work will tend to ask some relevant questions like:-
- What are the reasons why these public enterprises have to be sold despite the rationales for its establishment?
- Can these corporations function well under the care of the state rather than being privatized whether wholly or partly?
- How far has this privatized enterprises gone in boosting efficiency and high productivity to benefiting Nigerians as a whole whether poor or rich, higher place or less privileged?
- Who are the main beneficiaries of the privatization program?
1.5 Scope Of The Study
The scope of this research work focused strictly on the impact of privatization on Nigeria economy. Therefore, the area in which data were collected is within Nigeria.
1.6 Limitations Of The Study
On the course of this research, the following problems were encountered, like short time frame. Financing problem, scarcity of information or data, etc. this is due to mainly, the wide scope of this study which emphasizes on a complex institution like Nigeria. Now, the implication is that the short time frame mapped out for this research work posed a problem of assessing these programs as whole, but that doesn’t threat the authentication and quality of this work.
Again, enough finance for the accomplishment of this work became a problem in the sense that gathering information was costly, the researcher needed enough money to gather them.
1.7 Significance Of The Study
This research work will help the government and readers to understand those benefits that privatization embodies which we have neglected and politicized with in the past. In understanding this on the side of the government, it will allow them to rethink and work towards real implementation of it thereby creating a room for the rapid growth and development of Nigerian economy. On the other hand, it will go a long way to create an avenue for more academic research.
1.8 Definition Of Terms
Public Corporations:
Public corporation or enterprise as defined by Adamolekun (1983), are organizations that emerged as a result of government acting in the capacity of an entrepreneur. They can be seen as those corporations or enterprise built, owned and managed by the government.
Privatization:
This is a programme of divesting government interest, ownership and control of certain public enterprise and transferring same into the hands of private sector economic units which can be done in full or in part.
Full Privatization:
This means divestment by the federal government of all its ordinary shareholding in designated enterprise. Particularly affected are enterprises which produce goods that are not essential in nature.
Partial Privatization:
This means divestment by the federal government of part of its ordinary shareholding in designated enterprises.
Money Market:
This refers to an arrangement whereby short term borrowers (deficit economic unit) short-term lenders (surplus economic unit) are brought into contractual.
Commercialization:
This means the reorganization of enterprises wholly partly owned by the federal government in which the commercialization enterprise shall operate as profit making commercial ventures and without subvention from the governments.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
The Impact of Privatization on the Economy Development can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
Disclaimer for Complete Material Utilization
The displayed research work titled "The Impact of Privatization on the Economy Development" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “An Investigation of the Relevance of Educational Psychology Into Teaching - Learning Process” be used as a guide for Educational Psychology Project?
Yes it can be used — This project was on the relevance of educational psychology into teaching learning processes in secondary schools in Enugu North Local Government Area of Enugu State. The study was specifically aimed at investigating the importance and help educational psychology has rendered to teaching − learning processes in order to achieve these objectives, the following questions were formulated and used: What is the relevance of educational psychology into teaching − learning situations? How will the educational psychology help students adapt to teaching learning situations? It there is any way of identifying hindrances to learning and bridging the gap? What should be done in the case of exceptional students? How does educational psychology take of the students in adolescent stage? The population of the study …
Can this topic “Dangers of Drug Abuse among Youth in Nigeria” be used for Medical and Health Science Project?
Yes it can be utilized for research — Drug abuse among Nigerian youth has been a scourge to the overall sustainable development of the nation. The study was carried out to identify the Dangers of Drug Abuse among Youth in Nigeria. In achieving this aim, the following specific objectives were laid out to ascertain the relationship between drug abuse and the youth psychological behavior and find out the impacts of drug abuse among youth in Nigeria. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. A total of 133 (one hundred and thirty three) respondents were selected for this study to represent the entire population of the study. For null hypotheses were formulated and tested …
Can the material for “Solving Unemployment Problems” be used as a guide for Public Administration (PA) Project?
Yes it can be used — Unemployment is a menace in any society. The alarming scale of this syndrome still presents an increasing joblessness amongst graduates of tertiary institutions. This was the vision behind the setting up of NDE as an instrument in counteracting the Ugly phenomena on. The study is concerned with finding solution to unemployment problems in Anambra state by appraising the activities of the national directorate of employment (NDE). It therefore centers on identifying the programmes of NDE in resolving unemployment problems in Anambra state. Find out problems encountered by the NDE in solving these problems. Then help to proffer solution to this nagging issue. The population of the study is two hundred and a sample was determined using Yaro Yamanis statistical method. It is …
Can the material for “Design and Implementation of an Online Outpatient Management System” be used as a guide for Computer Science (CS) Project?
Yes it can be used — Outpatient Management is an information system that is used to record relevant information relating to the patients. The prescribe drugs, bought drugs, sold drugs and available drugs are processed by the program. The aim of this project is to design an Online Outpatient Management System. In achieving this aim, the following specific objectives were laid out as follows to develop an application software that will capture and store patients drug data for a teaching hospital, generate bills of each patient drug administered and execute a proper recording of patients’ drugs and diagnosis result and keep track of list of patients’ beds occupied and vacant. The motivation that led to the implementation of the proposed system is that the existing system …
Can the material for “Effective Human Resources Management as a Tool for Organizational Performance” be used as a guide for Business Administration and Management (BAM) Project?
Yes it can be used — The Management of Human Resources is an effective way of achieving organizational performance. It has been discovered that most organization are lacking behind in this area and as a result have been experiencing a decline in their productivity as well as failure in the achievement of their goals and objectives. This research work was designed to deal with how human resources in an organization can be effectively managed so as to help in the attainment of organizational performance. In order to solve this problem of lack of effectiveness in management of human resources, data were selected and analyzed using Nigerian Breweries Plc as a case study. However, at the end of the research, it was observed that, effective management of …
Can this topic “The Impact of Organizational Culture on Effective Employees’ Performance Towards the Attainment of Organizational Goals” be used for Human Resource Management (HRM) Project?
Yes it can be utilized for research — This study was carried out on the impact of organizational culture on effective employees’ performance towards the attainment of organizational goals. This study employed a cross-sectional research design method. Given that the research aim is focused on the Corporate organizations, the relevant population comprised of all the employees working within the Corporate organization in Lagos particularly. The sample size of 400 was derived using the Taro Yamane statistical formula. SPSS 20.0 (Statistical Package for Social Science) was utilized for the purpose of analyzing the data. Out of the determined sample size of 400, 160 respondents participated in the survey, which constituted a 40% response rate.Based on the hypothesis formulated for the research, three findings were made. First, that Leadership has a significant …
Can the material for “The Effect of Demonstration Method and Guided Discovery Method on the Academic Performance of Students” be used as a guide for Education Project?
Yes it can be used — The study identifies the Effect of Demonstration Method and Guided Discovery Method on the Academic Performance of Students in Biology in Senior Secondary Schools. In achieving this aim, the following specific objectives were laid out to determine the effect of using Demonstration method in teaching biology, find out students’ level of understanding biological concepts and investigate students’ performance in biology using each of the methods. The sample consisted of 133 SSIII Biology students selected from four senior secondary schools in Alimosho Local Government Area of Lagos State based on random sampling techniques. Primary data were collected from the primary source which questionnaire was used as an instrument of data collection while secondary data were sources from textbooks, journals, newspapers and …
Can the material for “The Role of Financial Statements in Investment-Decisions” be used as a guide for Political Science Project?
Yes it can be used — The research topic of this study is “The role of financial statement in investment decisions” − a study of selected banks in Enugu metropolis. The purpose is to identify the relationship between financial statement and investment decisions, and the impact of financial statement in investment decision making and also to know if investment decisions depends solely on financial statement. The study population is 125 persons who are the member of staff of the five major selected banks. Using the Yaro Yamani formula, the sample size calculated gave (95). The formulated hypotheses were tested using Z test with statistical technique at 5% level of significance. The researcher also made use of primary methods of data collection which included questionnaires and personal …
Can the material for “An Evaluation of Class Struggle” be used as a guide for Linguistics and Communication Project?
Yes it can be used — The Concept of Class struggle describes the constant conflict among the existing strata in every society. The purpose of this academic research is to explore the meaning and important of class struggle in the context of the selected texts. The theoretical framework for this research is the Marxist-Leninist theory, which could be simply summarized as the reaction of the exploited to get rid of exploitation and the exploiters. Various styles used by the duo of Iyayi and Falls is described. In the light of which class struggle is perceived as a necessity to relieve social strains of inequality and injustice. …
Can the material for “The Effect of Employee Participation in Management Decision Making” be used as a guide for Business Administration and Management (BAM) Project?
Yes it can be used — This research work is conceived with the effect of employee participation in management decision making in Federal Poly Oko Anambra State. The study involved a survey in which a total of two hundred employee were used as subjects, fur (4) research question were as tested. Questionnaire was used to elicit information from employees in Federal Poly Oko. The data collected were analyzed using mean scores. The effect of employee participation in management decision making in Federal Poly Oko. The researcher found out that sometime decision made by Junior staff of the institution will not be used and most of the staff have known time to go for meetings finding of the respondents in table 3 shows more respondents with higher …