The Effect Of Privatization And Commercialization Of Government Owned Industries

The Effect Of Privatization And Commercialization Of Government Owned Industries

Abstract

The monoculture profitable nature of Nigerian frugality a short cascade in foreign exchange generation, when the global oil painting glut reduce the unit cost of barrel of oil painting to as low as nine bones ($9.0).

Heretofore, the fantastic earnings from trade of oil painting has effectively be gentled, the poor rates of dividedness from investments effects public enterprises in Nigeria.

thus, this exploration represents an attempt to search for the goods, which the privatization and commercialization of government possessed enterprise had on the life of these enterprises.

The thesis as well seeks to know whether a durability and prosecution of the programme or out right meal grounded on its findings.

Chapter One

Preface

Background Of The Study

The period of 1972 to 1980; was a period described in the history of Nigerian frugality as the period of oil painting smash within which time incoherent operation of generated profit from trade of crude oil painting was made.

The colorful government numerous medium scale diligence in colorful part of their country, some of these diligence so established import as mush as 90 percent of raw material imputer from oversea countries.

The down turn of the Nigeria profitable fortunes, which redounded from global oil painting glut has a great negative impact on the frugality and which, depended on the profit from crude oil painting finance her their input acquainted frugality to as important as 85 couldn’t be innocent in 1986, the Nigerian government applied for a loan of N2.3 billion from the transnational financial finances to finance her acting frugality.

The transnational financial fund hence, presented as set tentative ties, which will qualify Nigeria for loan.

One of these tentative ties was reduction of government charges on public parasitical. The government as an avenue that won’t only reduce government expenditure portfolio, but also induce the important- demanded profit to finance other sectors of the frugality exploited this offer.

The premier breweries Ltd incorporated within the period of oil painting smash precisely 23rdJanuary 1976, with( 80) eighty percent Anambra state, the ten percent( 10) equity held by the Nigerian bank for commerce and diligence and ten percent by the Nigeria diligence development bank( NIDB). Although, the brewery has not made a loss in the history, it has not failed to achieve the set ideal of the promoters.