Economy & Market: Impact of privatisation on Nigeria’s economy
By BusinessDay on April 27, 2020
At her earlier stage of development, Nigeria was characterised by a strong government presence which resulted in the establishment of about 600 public enterprises solely owned by the government.
These public enterprises influenced various sectors of the economy chief of which was providing infrastructural facilities to enhance the overall welfare of the society.
The United Nations Development Programme (1990), noted that despite the huge sums spent by various governments on these state owned enterprises, their performance fell far below expectations.
The problems of public enterprises are multidimensional and according to World Bank’s Human Development Report of 1983, these problems include poorly planned investments; political influence in decision-making; costly and inefficient application of public funds; increasing budgetary burden; over-extension of government managerial capacity; and diversion of credit and other resources from the private sector.
Source:https://businessday.ng/markets/arti...act-of-privatisation-on-nigerias-economy/amp/
By BusinessDay on April 27, 2020At her earlier stage of development, Nigeria was characterised by a strong government presence which resulted in the establishment of about 600 public enterprises solely owned by the government.
These public enterprises influenced various sectors of the economy chief of which was providing infrastructural facilities to enhance the overall welfare of the society.
The United Nations Development Programme (1990), noted that despite the huge sums spent by various governments on these state owned enterprises, their performance fell far below expectations.
The problems of public enterprises are multidimensional and according to World Bank’s Human Development Report of 1983, these problems include poorly planned investments; political influence in decision-making; costly and inefficient application of public funds; increasing budgetary burden; over-extension of government managerial capacity; and diversion of credit and other resources from the private sector.
Source:https://businessday.ng/markets/arti...act-of-privatisation-on-nigerias-economy/amp/
