TABLE OF CONTENTS

TITLE PAGE…………………………………………………………………………………i

APPROVAL………………………………………………………………………………….ii

DEDICATION……………………………………………………………………………….iii

ACKNOWLEDGEMENT……………………………………………………………………iv

TABLE OF CONTENTS……………………………………………………………………..v-vi

CHAPTER ONE:                 INTRODUCTION

1. Background to the study………………………………………………………………1-2
2. Statement of the problem………………………………………………2-3
3. Objectives of the study…………………………………………………..3
4. Research questions……………………………………………………….3
5. Significance of the study……………………………………………………3-4
6. Scope and organization of the study……………………………..4
7. Limitation of the study…………………………………………………5
8. Definition of terms………………………………………………..5

CHAPTER TWO:                REVIEW OF RELATED LITERATURE

2.1       Introduction…………………………………………………………………………..6

2.2       Understanding the meaning of privatization and commercialization…………………6-12

2.3       Background to privatization and commercialization……12-15

2.4       The objectives of privatization and commercialization programme in Nigeria………15-16

2.5       Privatization and commercialization: Core issues for consideration………………….17-21

2.6       Some general problems associated with the policy of privatization and Commercialization……………………………………………………………………22-25

CHAPTER THREE:               RESEARCH METHODOLOGY

3.1       Introduction…………………………………………………………………………..26

3.2       Research design……………………………………………………………………….26

3.3       Sources of data collection…………………………….26-27

3.4       Research instrument…………………………………………………………………..27

3.5       Population……………………………………………………………………………..27

3.6       Sample techniques……………………………………………………………………..27

3.7       Validation instrument……………………………………….27

3.8       Analytical techniques…………………………………………..27

CHAPTER FOUR:              DATA PRESENTATION AND ANALYSIS

4.1       Introduction…………………………………………………………………………….28

4.2       A descriptive analysis of data…………………………………..28

4.2.1    Analysis of demographic data……………………………………28-30

4.3       Test of research questions………………………………………30

4.3.1    Test of research question one…………………………………30

4.3.2    Test of research question two………………………………31

4.3.3    Test of research question three…………………………………..32

4.4       Discussion of findings…………………………………………………33-35

CHAPTER FIVE:      SUMMARY CONCLUSION AND RECOMMENDATION

5.1       Summary……………………………………………………………………………36-37

5.2       Conclusion………………………………………………………………………………37

5.3       Recommendation……………………………………………………………………….38

Bibliography…………………………………………………………………………………39-40

Appendix: 1 Letter of introduction

Appendix: 2 Sample Questionnaire

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

The privatization and commercialization of public enterprises is a policy that was initiated in the Nigerian economy by the Babangida Administration.  Today it is pursued in different forms in a number of developing and developed nations around the world.

In Nigeria privatization and commercialization of public enterprises continues to be at the forefront of economic reforms and it is a key policy instrument in the move towards a more market-oriented economy.  According to Mukandala (198:30) privatization and commercialization of public enterprises have been rationalized as a solution to a state that had become too big in terms of its functions, too heavy in terms of its costs and very ineffective in terms of its performance and all this at the expense of private sector. Obadan (2000) noted that a sizable proportion of African governments including Nigerian, since the economic recession of the 80s, have come to recognize the need to transfer some economic activities performed by the state to the private sector, especially in view of the very poor delivery of public services by public enterprises.

The poor performances of the public enterprises are as a result of strong undue interference by supervising ministries and unnecessary political interference and manipulation which are commercially and economically unethical.  These and many others hinder these corporations from performing efficiently, thereby encouraging the call for their privatization and commercialization.

However, the policy of privatization and commercialization in Nigeria has come to be accepted with mixed feelings.  Some Nigerians are not comfortable with the policy while to some the policy is seen as a welcome development meant to re-organise and restructure these enterprises and consequently put then on the path of efficiency.

This work is therefore borne out to assess the issues, prospects and challenges associated with the implementation of the policy.

STATEMENT OF PROBLEM

Nigeria has been grapping with the problem of economic management since the crash of the oil price in the 80s.  Moreover it has been realized that the economic problems which have plagued the country for years, were not brought about only by international economic conditions, but also by the incidence of grossly inefficient public enterprises.

There is inefficiency of management in Nigerian public enterprises either in terms of personnel, financial control, general administration or accountability when compared with the private sector for many reasons.  For instance, management of public assets and enterprises in the country are plagued by political and budgetary constraints, insecurity of tenure of office, unsatisfactory reward system leading to job dissatisfaction and lack of commitment, under payment when compared to private sector, bribery and corruption etc (Ogbuagu, 2000).