ABSTRACT
Privatization is a very broad sense may
be defined as the transfer of ownership and control right over a firm from the
government owned industries to the private sector.
Commercialization in the other sense is
said to be the withdrawal of government funding from parastatals to enable it
operate commercially to fund for its existence of operation.
This research work is aim to investigate
into the benefit of privatization and commercialization on the Nigeria economy
“Marketing focus”.
In recent tine the management of our
parastatals has been a subject of debate. This research will look into the
inefficient utilization of resources and financial mismanagement of most of the
public sector enterprises over the year resulted into a very weak economic
balance sheet, excessive debts incurring and in most case negative network.
This research work will be grouped into
five chapters which shed more lights on the benefits of privatization and
commercialization on Nigeria
economy “Marketing Focus”.
CHAPTER ONE, Shed
light on the introduction (background) Statement, of problem, Objective, of the
study, Scope, of the study, Significance, of the study, Limitation, and constraints
of the study, Definition of terms.
CHAPTER TWO, Deals
with the meaning of privatization and commercialization, the benefit of
privatization and commercial, activities of techniques committee on
privatization and commercial and its shortcoming associated with privatization
and commercialization references.
CHAPTER THREE:
Concentrate on research methodology, population of the study, sampling and
sample size, research designing, type of data, method of data collection,
method of data presentation, method of data analysis.
CHAPTER FOUR:
Deals with history of PHCN, data presentation, data analysis, data
interpretation and discussion of findings.
CHAPTER FIVE: Also
deals with summary of findings, conclusion said recommendation.
TABLE OF CONTENTS
Title Page
Certification
Dedication
Acknowledgement
Proposal
Table of contents
Chapter one
1.0 Introduction
1.1 Statement of the problems
1.2 Objective of the study
1.3 The scope of the study
1.4 Significance of the study
1.5 Limitation and constraints of the study
1.6 Definition of terms
CHAPTER
TWO
Literature Review
2.1
The meaning of privatization and
commercialization
2.2
The Nigerian Experience on privatization
and commercialization
2.3
The benefit of privatization and
commercialization as related to marketing.
2.4
The activities of technical committee on
privatization and commercialization
2.5
Shortcoming associated with
privatization and commercialization
CHAPTER
THREE
Research methodology
3.1
Population of the study
3.2
Sampling and sampling size
3.3
Research designing
3.4
Type of data
3.5
Method of data collection
3.6
Method of data presentation
3.7
Method of data analysis
Consumer
questionnaire
CHAPTER
FOUR
Data Presentation and
Analysiss
4.1
Brief History of NEPA to PHCN
4.2
Data presentation
4.3
Data analysis
4.4
Data interpretation
4.5
Discussion findings
CHAPTER
FIVE
Summary, Recommendation
and Conclusion
5.1
Summary
5.2
Conclusion
5.3
Recommendation
References
Bibliography
CHAPTER ONE
1.1 INTRODUCTION
Recently, the mismanagement of our
parastatals has been a subject of debate. The inefficient utilization of
resources and financial mismanagement of most of public sector enterprises over
the years resulted into a very weak economic balance sheet, excessive debts
incurring and in most cases negative network.
In addition, the fact that the insolent
performance of the state in administration of public business establishment
creates a situation in which national funds that could have been used or spent
to generate new economic activities and employment opportunities are being used
to subsidize “dead wood that will never grow nor change” as analogy for the
public enterprises.
Taking survey of the phenomenon of
privatization and commercialization has also been extend to garbage collection,
bore-hole drilling, air traffic control and likes many other countries like
Britain, USA, Spain, Italy are also involved in various degrees in the process
of privatization and commercialization and this is not so exceptional case with
Nigeria.
Privatization and commercialization is
seen to many observes as a situation to our economic predicament. The debate in
privatization has been on the presumed efficiency of the private sector
vis-à-vis the public enterprises and how the latter can be made more responsive
to market forces and signs. It has been realized that inefficient companies are
typical drain on national treasures and that they contribute greatly to the
enormous current debt problems.
Thus, if efficiency can be elevated in
relating to profitability cost saving and consumer satisfaction and the liks.
Do we consider privatization and commercialization to be the solution and to
what proportion should factors of production and distribution be held by the
state private individuals.
As government could no longer continue
to support the monumental waste and inefficient of these public enterprises,
the programme of privatization and commercialization was developed to address
our peculiar socio-economic and political condition.
1.2 STATEMENT
OF PROBLEMS
A research in Nigeria into over 127 public
companies and corporation as at the end of 1990 showed that the return of
government N36 billion invested was not encouraging. At today replacement
costs, they are probably worth about N200 million as stated by our former
present, Gen Abubakar (rtd). Appraising the system, the former head of state
said “is clearly unsustainable and injustivable in a period of dividing
financial resources”.
Among the problems encountered by the
process of privatization and commercialization includes;
-
Problem of over supervision of
parastatals by the supervising ministries is government able to grant enough
freedom of action to the state owner establishment.
-
Problem of subjective criteria in
appointment of executive of parastatals. Are chief executive and principal
functioning of parastatals appointed because of their integrity and capability
to deliver and not because of nepotism.
-
Problem of political interference in
considering the problem of our parastatals will government inference not create
chances for political meedle someness and large scale competition, retention of
redundant staff, prostitution of disciplinary procedure by ethnocentric
considerations, award and inflating frivolous contracts, appointment of board
members and employee that do not possess the relevant knowledge and experience?
Will all these the relevant factors not erode the efficiency, effectiveness and
productivity of public business enterprises? All these shall be looked into in
the course of study.
1.3 OBJECTIVE
OF STUDY
A company’s or corporation’s main
objective is profit realization. This objective of prompt making ca not be
achieved when the company or corporation in question is being operate at a
loss. Privatization and commercialization of public enterprises is not an end
itself nor is it a panacea for the ills of the public enterprises.
To this, the following are the
objectives of the study.
i.
To restructure and rationalize the
public sector in order to lesser the dominance of unproductive investment in the sector.
ii.
To increase efficiency of
government-owned enterprises.
iii.
To ensure positive returns on pubic
sector investment in commercialization enterprises.
iv.
To check the present absolute dependence
of commercialization oriented parastatals on the treasury for funding and to
encourage their approval to the Nigeria
capital market.
v.
Increased competition that is capable of
leading to improve efficiency.
vi.
Development of under business relations
vii.
Creating favourable investment climate
for both local and foreign investors.
viii.
Re-definition of organizational
objectives and implementation of its policies.
1.4 SCOPE
OF THE STUDY
In recent years, the idea of
privatization and commercialization has gained universal appeal in all part of
nations.
The time scope of this research could be
the periodic depth of the research, time scope determine the depth of the data
to be collected on the case study.
The industrial scope is the
specification of the industry of study and the industrial scope of this
research is (PHCN) Power holding company of Nigeria.
Theoretical scope is about the aspect if
the subject matter that the researcher covers. And this research work,
theoretical scope is the benefit of privatization and commercialization.
1.5 SIGNIFIANCE
OF THE STUDY
The
importance of privatization and commercialization to companies enable the
companies to exploit the available opportunities of production and profit
maximizing.
The importance of privatization and
commercialization could enable the market or consumers to get their needs
satisfied and therefore improve the standards of living.
The importance of privatization and
commercialization to students as a writer who engages on the study in the
partial fulfillment of the requirement of the award of Higher National Diploma
in Marketing.
The research also broaden the
academicians knowledge and likewise the researcher will be able to withstand
any tasks of this nature in future assignment.
1.6 LIMITATIONS
OF THE STUDY
The
limitation could be secrecy: this connoles the situation whereby the needed
information is being kept for confidential reasons; and this serves as a threat
to the researcher.
Financial constraints: This
could also occur as a result of lack of find for the properrunning of the
research work nad if this is not sufficienty and not effective to solve problem
at hand.
Fime constraint: the research time is
always bery long, and if proper time or adequate time is not being given to the
researcher the work will be meaningless and the reseaecher will be unable to
solve the problems time is more vital in carrying out a research work,
regardless of the type of research being it primary or secondary research.
Wrong sampling could also be a problem
or threat to a researcher. A situation whereby a researcher collects and
analyzes wrong sample, this will make the research work not reliable and become
more complex.
1.7 DEFINITIONS OF TERMS
1.
Privatization:
is the transfer of ownership and control right over firms from the government
owned industries to private sector.
2.
Commercialization:
This
is the withdrawal of government funding from parastatals to enable this operate
commercially to fund for its existence of operation.
3.
Performance
contract: this is said to designed to govern the relationship
between the government and commercialized enterprises.
4.
Economy:
Avoidance
of waste of money, strength pr anything else of value.
5.
Resources:
Wealth,
suppliers of goods, raw materials etc. which a person, country, company has or
can use.
6.
Owner’s
equity: The financial interest of the owners.
7.
Values:
Is
the amount obtainable in the market for the exchange of goods and services.
This is the owrht of an asset prevailing at a particular period of time.
8.
PBIT:
Profit
before interest and taxation
9.
C.E:
Capital employed
10. Paid:.
Profit after interest and taxation
11. Asset:
Assets are things of value owned by the business. They are also resources of
the business.
12. Terms of agreement:
This is said to be the rules or agreement that governs the privatized company
and the government.
13. Stewardship accounting: Act
of giving doubt free account one’s property and resources being managed.
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