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Experience worldwide has shown that public enterprises have failed to live up to expectations. They tend to consume a large proportion of national resources without discharging the responsibilities thrust upon them. More importantly, they fail to share out these resources...

Indeed, with new investments in the privatized enterprises, better resource allocation, operational efficiencies, and better corporate governance are likely to pave the way for expansion and job creation. These improvements in turn will bring about better working conditions, higher pay...

There are, of course, no guarantees but privatisation can be an important element for increasing the workforce in the long term. If private management functions on an efficient and profitable basis, it should be expected that its business would increase...

The sale of public enterprises would reduce the level of employment in the short-run, because of the elimination of excess labour. Unemployment, however, is expected to decrease in the medium- and long-run as the rate of growth of the economy...

The government must devise sectoral policies that introduce competition and promote private sector development. It must establish and maintain a strong regulatory framework for the remaining monopolies, public and private, to ensure that fair business practices are adhered to, keep...

Privatisation is not an end in itself, but it is a key tool for improving the efficient allocation of resources, for mobilizing investment, and for stimulating private sector development. It is expected to bring about the following benefits: Reduce corruption...

There is clear evidence that public enterprises have contributed to our economic stagnation and poor national image. Public enterprises have: Created economic inefficiency; Consistently incurred financial losses; Absorbed a disproportionate share of credit; Contributed to financial deficits and imbalances; Contributed...

The objectives, which the Federal Government of Nigeria’s privatisation programme is meant to achieve, are numerous and involve, as a basic component, the improvement of economic efficiency. Generally, the programme has four objectives: To achieve higher allocative and productive efficiency,...

Yes, privatisation can and will lead to positive change in the current situation by working to reverse these certain dangerous trends.  As has been noted throughout this document, privatisation is designed to remove government from business and bring in proper...

There were about 590 public enterprises at the end of 2000, of which only 160 were involved in economic activities, generating goods and services. Over 5,000 board appointments are made to man these enterprises, with enormous patronage power given to...