THE BENEFIT OF PRIVATIZATION AND COMMERCIALIZATION ON NIGERIA ECONOMY “MARKETING FOCUS”
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TITLE PAGE
THE BENEFIT OF PRIVATIZATION AND COMMERCIALIZATION ON NIGERIA ECONOMY “MARKETING FOCUS”
BY
---
EE/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
DECEMBER,2018
APPROVAL PAGE
This is to certify that the research work, "the benefit of privatization and commercialization on nigeria economy “marketing focus”" by ---, Reg. No. EE/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
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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
- The meaning of privatization and commercialization
- The Nigerian Experience on privatization and commercialization
- The benefit of privatization and commercialization as related to marketing.
- The activities of technical committee on privatization and commercialization
- Shortcoming associated with privatization and commercialization
CHAPTER THREE
Research methodology
- Population of the study
- Sampling and sampling size
- Research designing
- Type of data
- Method of data collection
- Method of data presentation
- Method of data analysis
Consumer questionnaire
CHAPTER FOUR
Data Presentation and Analysiss
- Brief History of NEPA to PHCN
- Data presentation
- Data analysis
- Data interpretation
- Discussion findings
CHAPTER FIVE
Summary, Recommendation and Conclusion
- Summary
- Conclusion
- 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.
- To restructure and rationalize the public sector in order to lesser the dominance of unproductive investment in the sector.
- To increase efficiency of government-owned enterprises.
- To ensure positive returns on pubic sector investment in commercialization enterprises.
- 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.
- Increased competition that is capable of leading to improve efficiency.
- Development of under business relations
- Creating favourable investment climate for both local and foreign investors.
- 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
- Privatization: is the transfer of ownership and control right over firms from the government owned industries to private sector.
- Commercialization: This is the withdrawal of government funding from parastatals to enable this operate commercially to fund for its existence of operation.
- Performance contract: this is said to designed to govern the relationship between the government and commercialized enterprises.
- Economy: Avoidance of waste of money, strength pr anything else of value.
- Resources: Wealth, suppliers of goods, raw materials etc. which a person, country, company has or can use.
- Owner’s equity: The financial interest of the owners.
- 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.
- PBIT: Profit before interest and taxation
- C.E: Capital employed
- Paid:. Profit after interest and taxation
- Asset: Assets are things of value owned by the business. They are also resources of the business.
- Terms of agreement: This is said to be the rules or agreement that governs the privatized company and the government.
- Stewardship accounting: Act of giving doubt free account one’s property and resources being managed.
1.8 ORGANIZATION OF THE STUDY
The study is divided into five chapters,;.
chapter one; is the introduction which contains background of the study, statement of the research, research question, objectives of the study, research hypothesis, significance of the study, scope and limitation of the study, definition of key terms and organization of the study.
Chapter two: is the literature review which contains literature review.
Chapter three:- is the research methodology which contain research design, sources of data collection, population and sample size, sampling technique, method of data analysis and limitation of the study.
Chapter four:-is the data presentation, analysis and interpretation which contains data presentation, data analysis and data interpretation.
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