Irrespective of the fact that this project is meant to fulfill partial academic requirement efforts have been made to make the project more useful for knowledge seekers and students alike.
This project will enable the readers to know more about research accounted for the establishment of government owned institutions, various problems confronting them and how ineffective they have been managed and which had partially contributed to the declining economy in Nigeria.
The problem as it would be seen in course of this research will be dealt with under politics, administration and finance. As a solution to these problems of parastatals in the programme of “ privatization of these establishments. This will be the theme oft his project and effort will be made to define what the programme intends to achieve, meanings, prospects and problems of the project.
The success of the research is based on analyzing the basis of privatization methodological collection treatment of data analysis. The project’s appropriateness as a means of solving economic problem would be analyzed. The likely effect it will have on the economy there after public at large government and parastatals involved.
It would be discovered that all these and many points like review of various suggestion of experts on the topic of privatization would be considered it is believed that this project will be of immense use to both students coming behind as well as those that are involved in the policy making of this great country Nigeria as a basis of reference.
Government establishment from the inception was meant to give its service to Nigerian’s at a subsidized rate with the impact of our oil revenue. Privatization was at very low ebb because of the developing nature of our economy.
In recent time, the mismanagement of government parastatals has been a subject of debate. This is unconnected with the level of corrupt practices, which has permeated into the veins of wide range of Nigerian populaces. Lack of full utilization of resources, financial and administrative Mismanagement of most public sectors over the year has resulted into weak and stagnant economy, capital flight excessive debts incurring and under- development.
The indolent performance of the state in the administration of public business establishments create a situation in which national funds that could have been used or better spent be generate new economic activities and employment opportunities are been used to subsidize dead wood that will never grow nor changes” as analogy for the public enterprise
It is against the background of re-organizing and making public enterprise more efficient profit making that the government of general Ibrahim Babangida in his budget speech in 1986. Categorically declared to purse a policy of privatization of government parastatals since the introduction of SAP (structural adjustment programme) in 1986 the debate on the issue of privatization has gradually assumed the status of a national controversy. As is common with all controversies the emotions generated the controversy often over shadow the issues itself.
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