ABSTRACT
Previous privatization research has mostly concentrated on the effects of privatization on business output, profitability, investment, and efficiency, ignoring economic growth and other consequences. Nigeria’s port privatization via concession in 2006 encompassed nearly all of the country’s ports. However, the limited research on the subject did not account for the complexity that characterizes the multiple port system, nor did they control for alternative economic factors. The property rights theory was put to the test in this correlational analysis, which looked at whether changes in port production efficiency after privatization are good predictors of Nigerian economic growth. Eight years of existing panel data from Nigerian ports was collected, yielding 160 observations on a variety of characteristics. The analysis used linear programming to address the port system’s complexity while controlling for confounding or interfering variables. Privatization, deregulation, cargo increases, interest rate, and inflation rate all accounted for large changes in short and long-term economic development, according to the multiple regression study. The economy grew as a result of port privatization since cargo throughput increased. After privatization, the Malmquist linear programming analysis found overall but moderate increases in production efficiency adjustments. This study may enlighten Nigerian port management on methods to increase overall competitiveness by identifying potential areas for efficiency improvements. The research has the ability to contribute to social change by clearly pinpointing the essential elements for economic growth in Nigeria, which will aid in economic planning, poverty alleviation, and improving living conditions.
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