AN APPRAISAL OF PRIVATISATION CUM COMMERCIALISATION PROGRAMME OF THE NIGERIA GOVERNMENT

ABSTRACT

In writing a fiction, it is normal or customary to hide it kernel of the story at the middle or towards the end of the narrative. But in a study of this  nature which the writer has dwell upon. It is necessary to provide a sort of “path- finder” for guidance and case reference.

Therefore, the major purpose of this study is to access the privatisation and commercialisation programme of the Nigerian government. Three research questions were drafted to glade this study. 420-item structured questionnaire was developed validated and tested for its reliability. The writer also succinctly stated the underlying problem that generated the thought to carryout this   study, and also the significance of the study.

The major findings of the study were (1) The programme lead to the sky-rocketing of feed charged by commercialised industries like PH CN, NITEL etc. for the service they render (2) It has brought keen competition among investors, which has added a little to the improvement of the economy. In terms of development (3) Programme also is partly responsible for the mass retrenchment of workers that is going on. In the country to day, it was therefore conclude that

1.   The programme has succeeded to some extent, based on some silent facts uncovered in the course of the study

2.   It has also failed shifty    base on the fact that some of the privatised and commercialised or ganizations, have performed fairly will in term of profit margin finally, it was recommended that: (1) Any asset to be privatised, must properly be valued, even when the intention was to sell to the public by distributed.

3.   Shares by what ever method sold should equity, ably, be distributed, therefore, there must be a definite celling as to number of shares an individual or organization can buy.

4.   Lastly, we cannot have a good private sector which keeps on retrenching people. Therefore the rate of retrenchment should be reduced, so as to facilitate the development of the economy, since unemployment affect economic development.

TABLE OF CONTENTS

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE

1.0      Introduction

1.1      Background of the study

1.2      Statement of problem

1.3      Objective of the study

1.4      Research question

1.5      Significance of the study

1.6      Scope of the study

1.7      Limitation of the study

1.8      Definition of terms

CHAPTER TWO

Review of literature

1.0      Meaning of privatisation and

       Commercialisation

1.1the need for privatisation and

       Commercialisation

1.2 The role of financial institutions in

     the privatisation and commercialisation

     programme of the Nigeria government

1.3 Appraisal of the privatisation programme

1.4 Problems associated with

    Privatisation and commercialisation,

1.5 Summary of related literature

CHAPTER THREE

Research methodology

3.0 Introduction

3.1 Design of the study

3.2 Source of data collection

3.2.1 Primary sources

3.2.1.2 Interviews

3.2.2 Secondary sources

3.3 Validity and reliability of the

      measuring instrument

3.4 Sampling plan

3.4.1 Sampling frame

3.4.2 Sampling size

3.1.4 Sampling technique

3.5 Method of data Analysis

CHAPTER FOUR

Presentation and Analysis of Data

4.0 Presentation and analysis of data

4.1 Case studies selected enterprises

       Privatised and commercialised

CHAPTER FIVE

5.0 Summary of findings, Conclusion and Recommendations

5.1      Summary of findings

5.2      Conclusion

5.3      Recommendations

Bibliography

CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF THE STUDY

 According to Webster encyclopaedic unabridged dictionary of English language commercialisation is a noun of the word “ commercialised” meaning to make  commercial in character method, or often for sale as a commodity. Harrap English dictionary (1983:5) defines.

Commercialisation as making something into a business proposition  in other words making money out of it. Privatisation as both concept and process, possess ambiguous connotation and multiple meaning. Webster dictionary (1981:2) defines privatisation as an attitude of uncommitment of involvement    in any thing, beyond one’s immediate interest” while privacy, denotes a state of “withdrawal from society or the public interest (Oxford English Dictionary). As a process, according to gayles and goodies   (1990:3) privatisation denotes reducing the roles of government while increasing those of the private sector in activities or assets ownership in practices, according to them, privatisation, may include “ load shedding” or divestiture, the replacement of budgeted public activity by private market mechanisms such as consumers co-operatnces, co-production variously structured, public/private sector partnership, state management, contracts such as monopoly, franchise for the private supply of service user change case purchase arrangement and even tax-education, intended to stimulate, private sector investment. The issue of privatisation and commercialisation, it relatively  new in Nigeria, while an old issue in other countries like Britan, USA or France. The use of privatisation and commercialisation crept into our vocabulary simultaneously with the economic crisis.

The high expenditures on government companies equally contributed to the introduction of this economic policy. The policy includes categorizing public enterprise for subsequent reforms. In Nigeria the emergence of privatisation and commercialisation, as a major public issue is recent a phenomenon, although the on sode commission (1982:4) and  a study group set up by the Buhari.  Administration (1984:6) both recommended the privatisation/commercialisation of certain public enterprises and parastatals, the matter did not evoke much public depate until presedent Ibrahim Babagida In his 1986 budget speech, categorically declared the intention of his government to pursue the policy of privatisation and commercialisation. Be that as it may observes, see the current drive toward the privatisation and commercialisation programme as a welcome measure borne out of our present economic predicament

Thus, the research seeks to appreciate the programme of privatisation and commercialisation.  Expose its function policy with special regards to its relevance in Nigeria economic development.

1.2 STATEMENT OF PROBLEM

Privatisation commercialisation of public enterprises which is a new tread in Nigeria’s economic policy has come to stay and is interest to many enlightened Nigeria. It is almost concern because manufacturers government and the citizen may are always anxious to know the state of the economy. This is a more in the right direction because these privatised and commercialised enterprises/parastatals produce the essential goals and services required by the general populace. The task of implementing the programme calls for proper attention in its executives because the reverse may  head to ugly   circumstances.

According to Ibe (1986:7) privatisation is not just denationalisation of nationalised business, but a process by which the size of an inefficient and ineffective public sector is reduced by transferring some of is functions to a relatively more efficient private sector. In the light of the above the project is aimed at looking into how effective is the programme (privatisation and commercialisation) of the Nigeria government to what extent it has succeeded?

1.3 OBJECTIVE OF THE STUDY

This study is aimed at achieving the following objective

1.      To identify the factors that militates against effective implementation of the Nigeria government.

2.      The impact of the programme on the Nigeria economy

3.      To evaluate the effectiveness and success of the commercialisation, and privatisation programme of the government.

1.4 RESEARCH QUESTION

1.         What factor that militate against the effective implementation of the programme.

2.         What is impact of the programme on the Nigeria economy

3.         To what extent the evaluation of effectiveness of the commercialisation and privatisation programme of the government.

1.5 SIGNIFICANCE OF THE STUDY

1.    This study is intended to evaluate privatisation and commercialisation, exercise already started in Nigeria, by drawing inferrent from firms already privatised, and commercialised such as: power Holding company of Nigeria (PHCN) Aba tax tile mills Plc etc

2.    The study will also help the researcher have a basic knowledge of the Nigeria economic situation, and efforts being advanced by the federal government to reuamp the economy.

3.    To the department this study will particle a source of reference to other researchers.

4.    Part of the out come of his research work could sence as an input in formulating other economic polices in future.

SCOPE OF THE STUDY

This study intended to focus attention on the impact of an appraised of privatisation cum commercialisation programme of the Nigeria government in organization with study of selected firms. In Nigeria where the goals is not only manage the business to being a manager more cost affectively.

1.7 LIMITATION OF THE STUDY

During the course of this study, the research experienced the following limitations

1.    Time lay: As the researcher has to attend to lectures therefore, the time period to which this project is tied to or confined, to provides on opportunity for he researcher, to carry out extensive Journeys to conduct and access the result of the programme in many privatised and commercialised industries in Nigeria.

2.    Financial constraints

3.    The unwillingness attitude of some top management personnel’s, to release information or faces, nearly frustrated this research effort.

1.8 DEFINITION OF TERMS

PRIVATISATION: This is the transfer of government owned companies/industries to the private sector, implying that predominant share in ownership of assets in transfer lies with the private shareholders.

2. COMMERCIALISATION: This is described as the move by the public sector towards the adoption of the private enterprises styles of management and financial style. Commercialisation does not involve the change of control or ownership of shares, but merely involved a re-alignment of the share for better management.

3. PUBLIC ENTERPRISE: This is described as a business organization established, owned, managed and financed with tax payers money by government of a country with the main motive of not making profit, but render essential services to be member of the public eg PHCN

4.    MONOPOLY: This can be defined as a situation where there is only one producer or supplier of a particular commodity, and who has power to influence the price of the commodity at his own favour.

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