THE ECONOMIC IMPLICATIONS OF THE PRIVATIZATION OF THE POWER SECTOR IN NIGERIA: A CASE STUDY OF POWER HOLDING COMPANY OF NIGERIA (PHCN)

ABSTRACT

It is because of social issues like, economic inequalities, unemployment and lack of funds that made the Government of Nigeria to privatized some of their public sector as a means or medium for economic and social development due to poor managerial skill, weak technology base e.t.c this enhanced the zeal to establish various enterprises institution in Nigeria, then, due to inadequate capital and lack of finance. Public enterprises in Nigeria are confronted with many problems by the employees, managers and political interference in affairs of public enterprises. The project title is the economic implication of privatization of the power sector; a case study of power holding company of Nigeria. The problems are; is political interference and mismanagement resource responsible for the poor performance of public enterprise in Nigeria? What will be the economic implication of the privatization of power sector? System theory is used as suitable framework of analysis for the implication of privatization of public enterprises in Nigeria. The researcher reviewed some relevant textbook, used the secondly methods of data collection. He found out that privatization is seen as means to harness economy or as measure to increase efficiency of the public sector. This study is however divided into five chapters, chapter one deals with the background of study, statement of the problem objective of the study. Significance of the study, theoretical framework, hypothesis, method of data collection and analysis scope of limitation of the study and definition of terms, chapter two contains the historical and development of public enterprises in Nigeria. In chapter three we looked at challenges and prospects of privatization, chapter four of this work dealt with the gains of privatization of PHCN. Finally, chapter five which is the last chapter efforts shifted to the summary conclusion, recommendation and bibliography however this work is very explicit, interest and educating.

Table of contents
Title page – – – – – – – – – – i
Approval page – – – – – – – – ii
Dedication – – – – – – – – – iii
Acknowledgement – – – – – – – iv – v
Abstract – – – – – – – – – vi
Table of content – – – – – – – – vii- ix
CHAPTER ONE: Introduction
1.1 Background of Study – – – – – – 1 – 2
1.2 Statement of Problem – – – – – – 2 – 3
1.3 Objectives of Study – – – – – – – 3 – 4
1.4 Significance of the Study – – – – – – 4 – 5
1.5 Literature Review – – – – – – – 5– 21
1.6 Theoretical Framework – – – – – – 21-24
1.7 Hypotheses – – – – – – – – 24
1.8 Method of Data Collection and Analysis – – – 24-25
1.9 Limitation of the Study – – – – – – 25-26
1.10 Definition of Terms. – – – – – – – 26-27
CHAPTER TWO: Development of Public Enterprises
2.1 History and Development of Public Enterprises in Nigeria – 28-34
2.2 Rationale behind Government Investment in Public Enterprises – – – – – – – 34-35
2.3 Privatization and Commercialization of Public Enterprises in Nigeria – – – – – – 35-37
2.4 PHCN: Historical Analysis – – – – – 37
CHAPTER THREE: Challenges and Prospects of Privatization
3.1 Objectives and Forms of Privatization – – – 42-44
3.2 Necessary Condition for Success of Privatization – – 44-48
3.3 Problems of Privatization – – – – – 48-56
3.4 Problems Militating against Privatization of PHCN – 56-62
CHAPTER FOUR: Gains of Privatization of PHCN
4.1 Opportunities Behind Privatization of PHCN – – – 63-70
4.2 The Need for Privatization and Commercialization 70-73 of PHCN
4.3 Demands of the Union on Privatization of PHCN – 73-78
4.4 The Stand of Federal Government on the Payment of the 78-80 Severance Allowance.
CHAPTER FIVE: Summary, Conclusion and Recommendation
5.1 Summary – – – – – – – – 81-83
5.2 Conclusion – – – – – – – – 83-84
5.3 Recommendation – – – – – – – 84-87
Bibliography