And what have been the outcomes of public enterprises in Nigeria?

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 government since there isn’t enough money;
  • Lack of real ownership and accountability, leading to the collapse and closure of many PEs;
  • Poor services, arrogance and insensitivity to customers. The now defunct NEPA and NITEL are very vivid examples of this outcome;
  • Nepotism and ethnicism in hiring, discipline and reward system;
  • Parasitism and rent seeking behavior; and
  • Inequity in income and wealth distribution leading to reverse of Robin Hood, that is, government takes from the poor to feed the rich.