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The Impact Of Privatization And Commercialization Of Public Enterprises On Economic Growth Of Nigeria
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1.3 OBJECTIVE OF THE STUDY
This
study has a main objective of finding out the impact of Privatization
and commercialization of public enterprises on the Nigerian economy.
1.4 STATEMENT OF HYPOTHESIS
It is against the background pf problem identified and the objective of the study that the underlisted hypothesis was made:
Ho :βo : β1 = β2 = 0 (Null Hypothesis)
This means that the process for Privatization policy made no significant impact on the economic growth of the Nigerian economy.
1.5 SIGNIFICANCE OF THE STUDY
This
research work will be of great importance to the researcher, because it
will enable her to know the importance of privatization in the economy
of this country (Nigeria). It would also help to develop her personal
knowledge.
The research will also help the government to understand
those benefits that privatization and commercialization program embodies
which we have neglected and politicized within the past. In
understanding this on the side of the government, it will allow them to
retain and work towards real implementation of it and thereby creating
room for the rapid growth and development of this country.
Finally,
the research will be useful to the students of economics and other
field, who wish to know more about privatization and commercialization.
1.6 SCOPE AND LIMITATIONS OF THE STUDY
The
research work is focused on the impact of privatization and
commercialization of public enterprises on the Nigerian economy from
1980 to 2010.
1.7 DEFINITION OF TERMS
Definition of basic concepts
is important so that the study will be made meaningful, some definition
of terms used in the study are as follows:
a. Privatization
This
is the process of transferring ownership interest and control from a
government owner enterprise to a private sector. It can also be said to
be the transfer of ownership and central of enterprises from state to
private sector.
Ogunna defined privatization as policy of selling off
public enterprises to individuals groups and organization so that as
private organization they should operate under the principles of
profitability, effectiveness, efficiency and viability rather than in a
public interest.
Ikeme, (1997) defines privatization as any of the
variety of measures adopted by the government to expose of public
enterprises competition or to bring in private ownership management or
control into public enterprises and accordingly to reduce the weight of
public ownership or control or management.
b. Commercialization
This concerned with the reform of public enterprises to achieve high efficiency and productivity without change of ownership.
c. Public Enterprises
These
are any corporation board, company or parastatals established by or
under any enactment in which the government Federation has ownership or
equity interest. As defined by Ademolekun (1985) they are organizations
that engage as a result of garment activity in the capacity of an
entrepreneur.
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ABSRACT - [ Total Page(s): 1 ]So much effort has been made towards understanding the relationship between privatization and commercialization and the economic growth of Nigeria. Privatization and commercialization of pubic enterprises in every economy is introduced for the attainment of specific objectives which includes economic growth and stability. Data was collected and analyzed using ordinary least square method (OLS). The result of the study shows that there is a positive but insignificant impact of private investment ... Continue reading---
