Privatilization and Commercialization Effect on Nigerian Economy
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Abstract on Privatilization and Commercialization Effect on Nigerian Economy
This research work is titled “privatization and commercialization effect on Nigerian economy”. One of the economic policies of the government is the widening up of its developmental project and with the conceptual views of enhancing the development of a vibrant private sector with marginal public participation in the productive activities. In attempt to discourage the slow rate of private role in economic growth and in an effort to speed up development and equally compensate for the lack of active private sector, the government came to play active role in economic advancement. Also, in order to ensure a viable economic, increasing Gross Domestic Product (GDP), improved standard of living and income per capital of its citizenry, the government did not only develop and finance necessary physical and human infrastructure, but also invested direct in productive activities through state owned public enterprises. Data for this work was gotten using questionnaire. The chi-square formula was used to test the hypotheses, the population size is 733 while the sample size is 244. Some of the findings of this study indicated the need for the review of policies on privatization and commercialization of public enterprises on the Nigerian economy. Among the conclusion made were that privatization and commercialization have not really performed up to its expectation; hence the need for review and strengthening of the system. EEDC and NITEL need a holistic commercialization approach so as to serve their teeming customers satisfactorily and thereby effect a reasonable contribution to the nation’s Gross Domestic Product (GDP). The researcher also suggested that a study could be conducted on the strategies for improving the performances of privatized and commercialized public enterprises.
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