PRIVATIZATION AND ECONOMIC GROWTH IN NIGERIA: MATTERS ARISING.

Dr Ogbeide-osaretin Evelyn Nwamaka and UWAIFO, EMMANUEL. C.   (Published 2018)

Dr Evelyn Nwamaka
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Abstract

The issue of privatization has been a subject of intense global debate in recent years. Many countries of the world have embarked on privatization programmes at different times. This is so in order to promote efficient allocation and management of resources. This study takes a critical look at the extent to which Privatisation has boosted growth in macro-capacity of the Nigerian economy. It also aimed at finding out the impediments to the full actualisation of the benefits of privatisation as enshrined in the privatisation and Commercialisation Act of 1988. The study which is analytical in nature observed that; irrespective of the huge capital investment in the public sector by the Government to the tune of about $ 35B, the returns was as low as $1.5B in dividends and loan repayments from 1980 to 1987. Thus the need for privatisation became eminent. Though privatisation have been seen as a way out of this waste of resources, it has not been without challenges as there have been lack of effective monitoring and evaluation, corruption on the part of those saddled with the responsibility of implementing it, non audit or/evaluation of the exercise, interference in the process by government and labour’s demand for job protection. Based on these findings, it is recommended that efforts should be made on the effective monitoring and evaluation of the Bureau and the privatised enterprises, check over corruption and improvement in the method of implementation of the privatisation exercise.


Item Type: Journal article(non-copyrighted)
Format: PDF document,   270.84 KB
Copyright: Creative Commons LicenseCreative Commons license
Keywords: Privatization, Economic Growth, Commercialization and Corruption
Department: Physical Science
Field of Study: Economics
Uploaded By: Aimomoh Joseph Inofe
Date Added: 07 Mar 2019 1:56pm
Last Modified: 07 Mar 2019
Journal URL: https://www.edouniversity.edu.ng/oer/journal/privatization_and_economic_growth_in_nigeria_matters_arising


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