The Impact of Privatization and Commercialization in Nigeria

Abstract

This paper examined the activities/policies of privatization and commercialization of public enterprises in Nigeria and how they have affected the development of the Nation. Although, some of the problems facing public- owned enterprise were examined as well. It looked at the pressure on the International Monetary Fund (IMF) to fully implement the structural adjustment program that leads to massive deregulation, privatization, and commercialization of public owned enterprises. In addition, it looked at the merits if any, of privatization and commercialization through extensive theoretical review of the performance of the private enterprise in Nigeria. Theories, rationale, and challenges of privatization and commercialization were addressed. The conclusion was that privatization is a good policy measure, which must be pursued with vigor, truth, sincerity, and transparencies even though the government is using such policies to foster a new division of labor between the public and private sectors in a bid to order, increase the efficiency and contribution to the development of both sectors. Privatization and commercialization in Nigeria will be a mirage unless institutional reforms take place. The government should create an environment favorable for private economic activity. This can be done by showing zero tolerance for corruption, nepotism, and misuse of public funds and property by both government and non-government officials.

Public-private partnership in the security sector

“…A similar meaning for the normative determination of public-private partnership in the security sector have national regulations governing public-private partnership in Ukraine as a whole, namely: organizational and legal framework for interaction of public partners with private partners (Verkhovna Rada of Ukraine, 2010; Verkhovna Rada of Ukraine, 2003); principles of relations arising in the process of organization and implementation of economic activity between business entities, as well as between these entities and other participants in relations in the field of business (Verkhovna Rada of Ukraine, 2003); the procedure for consideration of cases arising from the conclusion, amendment, termination and execution of agreements concluded in the framework of publicprivate partnership, including concession agreements, except for disputes which are considered in other proceedings (Verkhovna Rada of Ukraine, 1991); the mechanism of preparation and carrying out with application of principles of openness, equality, objectivity, and non-discrimination of competition on choosing of the private partner for the realization of public-private partnership concerning objects of the state, municipal property, and objects belonging to the Autonomous Republic of Crimea, determination of the winner of the competition and concluding relevant agreements within the framework of public-private partnership, except for the concession agreement (Cabinet of Ministers of Ukraine, 2011); a set of legal, financial and organizational principles for the implementation of projects carried out on the terms of the concession (Verkhovna Rada of Ukraine, 2019) and so on (Keers & van Fenema, 2018;Goodliffe, 2002;Stephen et al, 2016).…”