FAQS

Privatisation is not an end in itself, but it is a key tool for improving the efficient allocation of resources, for mobilizing investment, and for stimulating private sector development. It is expected to bring about the following benefits: Reduce corruption and parasitic mentality; Infuse capital and modernize technology in our industries, many of which have …

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There is clear evidence that public enterprises have contributed to our economic stagnation and poor national image. Public enterprises have: Created economic inefficiency; Consistently incurred financial losses; Absorbed a disproportionate share of credit; Contributed to financial deficits and imbalances; Contributed to and entrenched parasitism and corruption; and Attracted rapacious military-civilian elites to politics.

The objectives, which the Federal Government of Nigeria’s privatisation programme is meant to achieve, are numerous and involve, as a basic component, the improvement of economic efficiency. Generally, the programme has four objectives: To achieve higher allocative and productive efficiency, leading to faster economic growth and development; To strengthen the role of the private sector …

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Yes, privatisation can and will lead to positive change in the current situation by working to reverse these certain dangerous trends.  As has been noted throughout this document, privatisation is designed to remove government from business and bring in proper business people to do so. This means that government will spend its time, energy and …

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There were about 590 public enterprises at the end of 2000, of which only 160 were involved in economic activities, generating goods and services. Over 5,000 board appointments are made to man these enterprises, with enormous patronage power given to high-level officials, such as the directors, managing directors, and boards. About $100 billion was spent …

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