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THE IMPACT OF
COMMERCIALIZATION ON THE NIGERIA PUBLIC ENTERPRISES
CHAPTER ONE
1.0 Introduction
Right from the beginning the Nigerian administration
registered it importance with an unprofitable government companies and left no
one in doubt as to its plan to sell them off to the public if only to make them
more efficient. Before the promulgation of Decree No. 25, 1988
Commercialization and Privatization programme, the Buhari’s administration (in
1984) and focused attention on the necessity of restructuring the Nigerian
economy when it established a number of study groups to address various aspects
of the Nigerian economy. The former Chief of General Staff Commodore Ebite
Ukiwe, Ex-ray the magnitude of waste emanating from government parastatals and
companies. According to him between 1979 to 1985, government suck about N23
billion those ventures, equity made of N11.4 billion while N10.4 billion was
give as loans granted within the same period and as disappointing a paltry
average of less than 10%.
The General Buhari called the attention of the leaders of
industries and told them that the days of big government where over policy
watchers were left in no doubt that the era of commercialization and
privatization is down on the Nigerian economy.
This era would be characterized by way of partnership where
the government are to provide the needed services and infrastructures, to keep
the wheel of development moving. According to the arrangement of the decision
to privatize and commercialize the government companies and fully exercise of
the companies is therefore the logical climax of two years trend.
The companies under full commercialization will receive some
subvention but will be expected to generate at least fifty percent of their
financial needs for their operation.
1.2 Statement of
the Problem
It is no doubtful whether commercialization will be the panacea.
It is possible that Nigeria would be exchanging one evil with another. There is
higher probability that commercialization may improve operational efficiency of
the affected companies.
There is also doubt about government pursuit will swell
either from the sales of equities from saving the money that would have still
be invested in these ventures now being commercialized. More so, serious fear
is that commercialization will further enlarge the gulf between the few rich
politicians and the multitude of deprived people as only the rich minority can
buy the shares that will be sold.
The various publications and writings on the impact of
commercialization of public enterprises on the Nigerian economy have remained
more of descriptive study. Much studies have not been carried out empirically
to place the concept of commercialization in proper settings as far as the
Nigerian economic welfare is concerned via the positive of public enterprises.
Hence this study is geared towards the above facts.
1.3 Purpose of the
Study
The purpose of the study is the review of the existing
literature on the topic: Impact of Commercialization on the Nigerian Public
Enterprises”.
1.4 Significance
of the Study
The significance of this research is that, it gives us an insight
on the importance of commercialization on the Nigeria public enterprises. It is
very significant because it gives us the information on how commercialization
contributes positively to the regulation and restructuring of NITEL Plc.
It also makes us know that commercialization will improve or
develop the Nigeria economy. It help the management of NITEL to know that if
fully commercialized, it strengthen the financial accounting control at the
enterprises level.
It gives us the insight that commercialization affects the
operational efficiency of the Nigeria public enterprises.
1.5 Scope and
Limitations of the Study
This research work is simply on the impact of
commercialization on the Nigerian economy. The research is mostly in NITEL plc.
And therefore, the researcher tries his best to use his disposal to obtain a
comprehensive and thorough data so as to enable him present a good work.
This work as organized in orderly manner and the researcher
encountered into some problems which include finance, mobility, under-developed
scientific facilities unequipped libraries, uncooperative attitude from
respondents to research question etc.
1.6 Definition of
Terms
i)
Commercialization: This is the way by which some of the government
parastatals and companies change some amount of money to cover expenses.
Commercialization can be defined as the re-organization of enterprises wholly
or partially owned by the government whereby such enterprises shall operate as profit
making commercial ventures.
ii) Public
Enterprises: According to Section 22 of the 1979 Constitution of the Federal
Republic of Nigeria, it is defined as a body set up by government to carryout,
in the public interest, different kinds of operations or render various types
of services.
iii) Impact:
Though there is no direct definition, but according to learners English
Dictionary, it is described as the impression effect consequences of something
over the other.
iv) NITEL: It
means Nigerian Telecommunications Limited. It is therefore an enterprise which
renders communication services to the public. Two persons in different
locations speak to each other with the aid of cable or wireless equipments
through the services rendering by these enterprises.
v)
Privatization: This is a process of transferring ownership and control
of government-owned enterprise to privates. It may be full or partial.
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