PROPOSAL
This project is on privatization as a means of solving Nigerian Economic problem. It focuses on Nigeria Electric Power Authority (NEPA).
In this project an endeavour will be made to bring to light and examine the privatization as a means of Solving Nigeria Economic problem. And it will also enable the renders to know about the establishment of government’s own parastatals, various problems confronting them the way have managed and which had partially contributed to the declining of economy in Nigeria. The problems as it will be seen in the course of reading will be deal with under politics, administration and finance.
A solution to those problems of parastatals is the programme of privatization of those establishment which government is embarking upon. An effort will be made in this project to define what the programme intend to achieve.
Its appropriateness as a means of solving economics problems will be analysed with regard to the likely effect it will have on economic, public at large and government parastatals.
However, the major instrument I will use in gathering data is questionnaire, sampling method which will consist of the stratified random sampling. The data will be analysed using percentage that will attach quantitative characteristic of the data in numerical form and relationship and data in numerical form and relationship and data collected from the authority concerned (NEPA) which will serve as a primary data.
TABLE OF CONTENTS
CHAPTER ONE
CHAPTER TWO
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
CHAPTER FOUR
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
Definition of Terms
References
Appendix
CHAPTER ONE
Recently the government feeling the mismanagement of our parastatals has been the subject of debate. It felt that some of these parastatals are performing below expectation. Some incurred huge debt, which are being repaid and serviced by the government. The government is also worried that substantial part of it votes were used to support public enterprise whose provision of goods and services were often expensive, inefficient and subject to political manipulation, which are over the years had resulted into a very weak economy.
In addition, the fact that this indolent performance of the government in the administration of public business establishment creates a situation in which national fund that could have been used for or better spent to generate a new economic activities and employment opportunity for its citizen are being use to subsides “dead wood that will never grow nor change” as analogy for the public enterprises. It is against the background of re-organising and making public enterprises more profit making that the government of president Olusegun Obasanjo, in his speech categorically declared to pursue a policy of privatization of government parastatals.
Privatization is most commonly defined as the relinquishing of part or all the equity and other interest held by the federal government its agencies in enterprise whether wholly or partly owned by the federal government. This means reduction of public sector intervention in the economic activities.
Taking a survey of the phenomenon of privatization, it will be discovered that it is not a new subject in the economic literature. Traced back to the end of 2nd world war, Britain embarked on a deliberate policy of nationalization of its basic industries with a view to enhancing efficient planning of the British economy and to ensure an un-interpreted flow of essential services and goods to the generality of the populace. But with the transfer of fourteen large companies and many smaller ones employing a total of about 600,000 people from public to private handover the first eight years. Britain is today a leader in the course of privatization of public enterprise with over 90 of the economy in the private sector. In the same vein in United State of America (U.S.A) who seems to be the most privatized economy in the world is still containing with the process.
In modern times too, privatization has also been extend to garbage collection, bore-hoe drilling, air traffic control and the like. Many other countries like Spain, Italy, Turkey are also involved in various degrees in the process of privatization and this is not an exceptional case with Nigeria.
Privatization is seen, to many observers as a panic measure, borne out of economic predicament. The debate on privatization has been on the presumed efficiency of the private sector with regard to the likely effect of the public enterprise and how the alter can be more responsive to market forces and signs. It is an undoubtful fact, in developing countries like Nigeria in particular, it has been realized that inefficient companies are typical drain on national treasures are that they contribute greatly to the enormous current debt problem.
Thus if efficiency can be elevated in relating to profitability cost and consumer satisfaction and the like, we consider privatization as the only solution. And to what proportion should factor of product and distribution be held by the state and private individual.
Privatization programme being a vial instrument, need a critical analysis and true examination of hindrances to its successful programme. As a useful instrument, privatization would improve the efficiency of the enterprise, expose the organization to improve on up to date technology and yield additional resources to the government, such that rather than subvert the company, the government would instead have additional revenue to rehabilitate and develop or repair its physical structures and facilities.
Fully owned by government
Privately owned
Owned by share holders.
The scope of the study is limited to National Electric Power Authority (NEPA), Enugu environment due to time and financial constraints.
The researcher encountered problems on various levels. The reference materials were mostly classified document of the government and not every office was to let them out. In many cases, the researcher was told to obtain a letter of identification from her head of department before such classified document or information were accessed. Also, the security of reliable data usually marked “Top Secret” were not possible to gain access.
It was very difficult to interview the general manager and the chief accountant. The researcher made a visit to these officers before attention was given. The views of these officers were very vital to some problem being investigated.
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