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Vision and Mission of Privatization in the 21st Century

Ibidunni, O. S. (2006) Vision and Mission of Privatization in the 21st Century. Knowledge Review A Multidisciplinary Journal, 12 (3). ISSN 1595 -2126

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Privati zation can be defined as the process whereby the ownership of public sector enterprises is transferred to private investors. Prior to 188, Nigeria witnessed the practice of regu lated economies. Companies operated with the business objectives of providing goods and services at reasonable prices and at reasonable profits to the company. Empowered by the privatization and commerciali zation act of 1988, the Federal government in all had 89 enterprises privatized between 1988 and 1993 in her first phase of the three phased privatization programme. The enterprises include all government concerns including banks. insurance companies, hotel s, flour mills etc. The essence was to give better and more efficient structure to the Nigerian economy while the numerous benefits will accrue to the teaming population. Therefore this paper will discuss the genesis, types, and modalities of privatization. It will also appraise the achievements so far and what vision and mission it should possess in the 21" century.

Item Type: Article
Subjects: H Social Sciences > HF Commerce
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 09 May 2014 13:15
Last Modified: 09 May 2014 13:15

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