ABSTRACT
The privatization and commercialization of Nigerian enterprises today, faces a lot of challenges in tackling the menaces of corruption and mismanagement of public funds. It is because of social issues like economic inequalities, unemployment that made the state to interfere in economy of Nigeria. Government chose public sector as a means or medium for economic and social development due to poor managerial skill, weak technological base etc, this enhanced the zeal to establish various enterprises institution in Nigeria. Then, due to inadequate capital and lack of finance, public enterprises in Nigeria are confronted with many problems by the employees, managers and political interference in the affairs of public enterprises. This study concluded by saying that the effect of privatization and commercialization on the Nigerian economy can only take effective progress when the enterprises are wholly or partially in some cases handled and controlled by the private owner whom will not relent in the optimization of profitable enterprises.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
To be able transform into an industrialize economy; an underdeveloped economy has to be privately and commercially developed.
The importance of establishing public enterprises or corporation began during the 19th century with the British telecom in 1884 under the telecommunication act and gained a worldwide support in Britain thereafter. Several nations particularly those in Africa, have come to embrace the principle as a way of eliminating low performance and inefficiency in the public enterprise sector.
Following the trend the Nigerian economy has come to embrace privatization as a cardinal principle of the state’s economic policy. Over the years, the Nigerian government has encouraged the development of the public sector, since independence in 1960 and particularly 1970s but has being commonly non successive because of government attitude towards public enterprises business management. In Nigeria, most government owned industries and establishments remain citadels of corruption, studies in inefficiently and consequently a heavy drain on the economy. As a means of combating this menace, the (IMF) and....
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