privatization of public enterprises and its implication on economic policy and development

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PRIVATIZATION OF PUBLIC ENTERPRISES AND ITSIMPLICATION ON ECONOMIC POLICY AND

DEVELOPMENT OF CROSS RIVER STATE.

DEPARTMENT OF BUSINESS ADMINISTRATION

ABSTRACT

The research was on privatization or public enterprise and

its implication in economic policy and development of Cross

River State. Data were collected primarily through the use of

questionnaire and secondarily source through the reviews of

relevant academic materials. The data collected were used to

test the hypothesis and the result of finding revealed that,

there is significant relationship between corruption and

dishonest practice of staff. The study recommended that for

public enterprise to meet the peoples e!pectations, the

government should play a giant role of pumping more money

into the enterprise the staff must be trained of perform their

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responsibilities, corruption must be reduced to its bearest

minimum and management capacities of the government must

be increased through further training and retention of s"illed

staff.

CHAPTER ONE

GENERAL INTRODUCTION

1.1 Introducton

Cross River State public enterprises are generally

corporate entities other than ministerial departments they

derive their e!istence from special statutory instruments and

engage in special business type of activities to provide goods

and services for the overall social economic upliftment of the

citizen these include corporation, authorities, boards and

enterprise so owned and operated #$erome %&&&'.

The non(performance of the public enterprise has

prompted series of discussion and policy recommendations on

how best to move them out of their present quagmire. )t was


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for this quagmire that in %&&&, the Cross River State

government instituted sweeping reforms across the various

sector of the state economy where they recognized that public

e!pectations.

They were conceived to be consuming a large portion of

national resources without discharging the responsibilities

thrust upon them.

%. That they create economic difference

*. They incur huge financial resources

+. They absorb disproportionate share of credit and

especially in the form of foreign loans #luade *--'.

/hile the public remains divergent in their feelings

regarding policy choice and actions the state governments

seems decided, poised and irrevocably committed to the

privatization option towards this end.

0 decree was promulgated that is decree 1o. *2 of %&33

to give practice effects to and set appro!imate machineries in

motion to privatize some government enterprises.


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1.! T"# r#$#%rc" &ro'(#)

4rivatization programme 5ust li"e any other of programme

initiated by the state government did not 5ust start.

4rivatization programme arose because the defunct public

enterprises had to meet public e!pectation they were alleged to

be consuming a large portion of national resources hereby

creating economic inefficiencies, incurring huge financial

resources and absorbance of disproportionate share of credit

especially in the form of foreign loans. )t could be used

interwovenly with commercialization though privatization

involves the sale of government owned company to private

investors or individuals who now becomes the new owners

changing the way government owned companies operate to

ensure that they run commercially and ma"e profit the e!isting

differences is their ownership structure.

1.* Pur&o$# o+ t"# $tud,


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The primary purpose or aims of the study is to find outs

why government had decide to embar" on privatization

programme and their implication in economics policy and

developments in Cross River State. )t is worthy of note that the

primary goals of privatization programme is to ma"e the

private sector, the leading engine growth of the Cross River

State economy the government intends to use the privatization

programme to ta"e Cross River State bac" into the global

economy as a plant form to attracts foreign direct investment

in an open, fair and transparent method.

%. To send a clear message to local and international

community that a new and transparent Cross River State

is open for business.

*. To Restructure and revitalize the public sector in order to

substantially reduce the dominance of unproductive

government investment in the sector.

+. To create 5obs, acquire now "nowledge, s"ills and

technology and e!pose 1igerians to internationals

competition.


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6. To raise funds for financing socially eradicated programme

such as poverty eradicated programme such as poverty

eradication, wealth creation and infrastructure.

1.- R#$#%rc" u#$ton$

This study aims at as"ing some fundamental questions

which ) believe if poverty analyzed will help us to understand

more reasons behind privatization programme in Cross River

State.

These research questions are7

%. /hat is privatization8

*. /hy are public enterprises privatized8

+. Does it have any implication in economic policy and

developments of Cross River State8

6. /ho are the beneficiaries of privatization8

2. Do you thin" it should be encouraged8

1./ S0n+c%nc# o+ t"# $tud,


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Researchers are usually conducted with a view to

contributing to already e!isting "nowledge and understanding

about a particular discipline.

The opportunity provided by this study will used to

e!plore the factors that gave rise to privatization of public

enterprises in Cross River State and its implication on economic

policy and development in Cross River State. )t is believed that

the study and many suggestion will contribute immensely to

the reasons behind the privatization of publics enterprises its

implications in 9conomic policy and development in Cross River

State.

:urthermore, this study would endeavor to show that

public enterprises are set up or established to bring upliftments

and elevation in the economic life of the state and citizenry.

:inally, the research may serve as a mar" for further

study on the privatization of public enterprises, understand the

problems and proper solution to them.

1. Sco o+ t"# $tud,


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The study covers privatized enterprises government

owned in Cross River State.

1.2 D#+nton$ o+ r#(#3%nt t#r)$

)t is imperative to give an operational meaning to some of

the words that is used in the study;

i. Pr3%t4%ton5 This means the sale of government

assets or enterprises wholly or partially to privates

investors for effective management.

. Go3#rn)#nt5 This has to do with a group of individual

e!ercising legitimacy and authority and is also an

institution through which the will of the state is

formulated, e!pressed and attained.

. Ent#r&r$#5


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3. D#3#(o&)#nt5 This has to do with concentrated efforts

which are made to facilitate significant increase in

productivity.

3. Int#r3#65 Refers to meeting of people or persons either

face to face or dialogue with aim of getting information

about an issue.

1.7 Or0%n4%ton o+ t"# $tud,

This research wor" is divided into :ive Chapters. The first

chapter represents an overview of the study, significance of the

study, scope of study, definition of some relevant terms and

research question.

The second chapter deals with the theoretical based on

conceptual framewor" and reviews related literature as will as

the model or theories.

The chapter three tal"s about research design, data

preparation, instrumentation, validity=reliability of instrument.


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Chapter four tal"s about data presentation, analysis and

the discussion of findings.

Chapter five tal"s about summary of findings, recommendation

and conclusions.

privatization of public enterprises and its implication on economic policy and development

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