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The outcomes have been disappointing and include: Corruption and mismanagement leading to low productivity; Dependence on continued funding from government budgets. Instead of providing any benefits to Nigerians, Nigerians must give up many benefits themselves that can’t be provided by...

Public enterprises, like in other countries, were established with good intentions for the welfare of the people. The overriding reasons for creating public enterprises in Nigeria were to: Make up for a shortage of local capital for expansion and technological...

An initial public offering, or IPO, is the sale of a company’s shares on the stock market for the first time.  As part of Nigeria’s privatisation programme, the sale of shares in IPOs is reserved for Nigerian citizens only, and...

The stock market is an institution where shares (as defined above) are bought and sold.  Shares can be sold as part of daily stock market activity, through share subscriptions and initial public offerings (IPOs).

A core investor sale is defined as the transfer of at least 51% of ownership, accompanied by management control, in a company from government to new private owners.  Core investors may be individuals or firms, Nigerian or foreign, with the...

A share is a portion of a company owned by an individual, a group of individuals, or a firm.  Shares are not always physical pieces of paper as in the old days, since in many companies electronic depositories have been...

Privatisation, in the simplest term, is the transfer of ownership from the government (or public) sector to the private sector.  Privatisation can occur in one of many ways, including core investor sales, share subscription, initial public offers, asset sales, and...

There are many possible definitions of what a state-owned enterprise (SOE) or public enterprise (PE) is. We define PEs as government-owned or government-controlled economic objects that generate the bulk of their revenues from selling goods or services. These include enterprises...

The Bureau of Public Enterprises (BPE) is the Federal Government agency tasked with implementing the government’s privatisation programme, as the Secretariat to the National Council on Privatisation (NCP).  It has evolved from the Technical Committee for Privatisation and Commercialisation (TCPC),...

Eleme Petrochemicals Company Limited (EPCL), located in Port Harcourt, Rivers State, is a petrochemicals complex originally fully-owned by the Federal Government of Nigeria and commissioned in 1996. Although constructed to international standards, located to take advantage of Nigeria’s abundant supplies...