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THE IMPACT OF COMMERCIALIZATION ON THE
NIGERIA PUBLIC ENTERPRISES
ABSTRACT
The study examines the association with
commercializing enterprises in Nigeria. In addition, it seeks to investigate the
reason for commercializing public enterprises in the country. Issue generated
by commercialization and its impact on the Nigerian economy as a whole properly
analyzed. The primary and secondary sources of data collection were used to
gather facts relating to the study. Government has for a long time monitored
the performance of these enterprises in terms of contribution to economic
growth. In the course of this study, it has been discovered that most of those
public enterprises if not all have constituted an unnecessary high burden on
government resources. Commercialization therefore, is seen as a means of
restructuring the economy. Finding also shows that, its implementation has
positive impact or satisfactory. Finally, it is obvious here that commercialization
will have a positive impact on the economy.
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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