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Agriculture

From Rediscover Nigeria desk

  AGRICULTURE   The wealth of a nation is partially measured by its ability to guarantee its citizenry food security.In…

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Manufacturing

From Rediscover Nigeria's Desk

Manufacturing in Nigeria concentrates mainly on the production of consumer goods. With a population estimated today at over 156 million…

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Nigeria! Overview

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From Rediscover Nigeria's Desk

Tourism in Nigeria has huge potentials to be a major foreign exchange earner. The Obasanjo administration has created awareness among…

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Nigeria's Resources

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Nigeria's total verified external debts as at December 2010 was US$4.578 billion as against US$3.947 billion in 2009. Total scrutinized…

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Rediscover Nigeria Bureau for Public Enterprise

Bureau of Public Enterprise (B.P.E)

The inefficiency of the Public Sector in running certain businesses in Nigeria has not been an exception to the inefficiency of Public Sector Enterprises generally. The commanding heights of the economy involving Telecommunications, Transport, Aviation, Power, Energy, Steel, Banking and Mining were by law entirely in the hands of government. The deregulation of the economy which started during the Structural Adjustment Programme of 1985 still left the control in the hands of government.

Full implementation of privatization started in phases in 1999. It has largely been a successful exercise. The first phase involved the sale of banks, hotels, sugar companies, cement industries and other industrial enterprises. Government's income profile from the sale of these enterprises has varied from the very good, to the fair and very poor. The obvious reason for the low returns on the sale of some enterprises was the dilapidated state of the infrastructure of these enterprises at the time of privatization.

As part of the ongoing exercise, new windows are open for investors who want to have a stake in Nigeria's brightening economic horizon. The concessioning arrangements for the seaports and sale of the fertilizer companies have been concluded. However, the privatization of the Power Holding Company and the Government run Telecoms Company (NITEL) is still ongoing and throws up good opportunities.

The successful completion of Nigeria's privatization programme will see the emergence of a private sector driven economy.

The political implication is also far reaching as it will guarantee some measure of stability. Resources will be freed to tackle developmental programmes in water supply, sanitation, health and education.

It will also close the doors to politicians who view government as a distributor of largesse. Professionalism will return to the various sectors as competition and technology driven programmes will be the corporate focus of each enterprise.

 

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Last Updated (Friday, 23 December 2011 22:36)

 
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