PRIVATISATION POLICY AND NATIONAL DEVELOPMENT IN NIGERIA: A STUDY OF THE FOURTH REPUBLIC

 

Nchekwube O. Excellence-Oluye¹, Daniel Gberevbie² and Jide Ibietan³

¹Mrs. Covenant University, NIGERIA, cheks.excellence-oluye@covenantuniversity.edu.ng

²Professor, Covenant University, NIGERIA, daniel.gberevbie@covenantuniversity.edu.ng

³Associate Professor, Covenant University, NIGERIA, olajide.ibietan@covenantuniversity.edu.ng

 

Abstract

Development is a concept that has occupied the front burner of debates among scholars and governments around the world. In the pursuit of development of nation-states across the world, scholars have identified privatisation as a veritable tool for socio-economic transformation and advancement. While there are arguments that privatisation is not a magic wand for turning around decayed socio-economic structures, it is arguable that privatisation of public organisations is pivotal to the attainment of meaningful development in any nation. This is because, the private sector is viewed as being better equipped to manage and run businesses, leading to efficiency in the delivery of services, and therefore development across levels. It is also viewed that privatisation of public organisations enables the government to focus on other national issues, as the private sector relieves the government of the burden of running businesses. This study utilises secondary sources of data collection that was deployed to assess the role of privatisation policy in Nigeria’s national development. The paper adopts the longitudinal research design, and found among others, that privatisation policy was implemented in Nigeria in order to bring about efficiency in the activities of public organisations and enterprises, which could translate to development at different levels. It also discovers that national development in Nigeria has been stalled by policy discontinuities and poor implementation strategies. It therefore recommends that the Nigerian government should take proactive steps/measures in monitoring the privatisation processes, as well as ensuring that the privatised organisations receive the needed support and environment to thrive.  This would make the national development agenda attainable in Nigeria.

Keywords: Development, government, national development, Nigeria, policy, privatisation, privatisation policy.