The motivated recession that the Nigeria economy has been planned into since the beginning of the last elected has posed several problem and challenge to the answer and managers of enterprises operating in a difficult. If not impossible to break- through infact, productivities in most public enterprises, efficiency almost Nil. There is also a group concern about the high motility in the agro-allied and small scale business which has been known to contribute immensely to the cross national project of the country successive government in Nigeria have expressed which concern over the poor performance of it companies and parastatal which his become a major factor in it thinking when the second have of the oil gluthit the world and revenue generatio0n for the country Nigeria a dangerous wise-dive, in 1981, the president, shehu shagari, set up the onosode commission on parastatal to study their operational problem and recommend how this can be solve to make them provide efficiently the service of which they were set up.
TABLE OF CONTENT
CHAPTER ONE: INTRODUCTION
1.2 Statement of the problem
1.3 Objective of the study
1.4 Significance of the study
1.5 Scope and limitation of the study
1.6 Organization of the study
1.7 definition of term
CHAPTER TWO: LITERATURE REVIEW
2.2 Theoritical Frame Work
2.3 Current Trend In Thinking
2.4 Summary Of The Chapter
CHAPTER THREE: RESEARCH METHODOLOGY
3.2 Sample and Population Of The Study
3.3 Source of Data
3.4 Method of Data Analysis
3.5 Research Problem
Chapter Four: Data Presentation and Analysis
4.2 brief history of the case study
4.3 presentations of data
4.4 testing of hypothesis
4.5 summaries of the chapters
Chapter five: summary conclusion and recommendations
5.1 summary of finding
1.1 BACKGROUND OF THE STUDY
Some of the recommendation of that commission informed successive government thinking in what to do with the public enterprises mearly all of which as become an albatross, the commission recommendation that” commercially orientated parastatal able to subject themselves to the discipline of the capital market should be encourage to know money on their own, issue hand.
It observed that many of the problem which seem international parastatal derive from the realities of hate social and economic environment In which they operate and to purpose only reform internal to the parastatal or in their relation with government, as the answer to the problem of getting parastatal to satisfy public expectation, is simply to ignore significance varieties “experts interpreter this to mean commission recommendation privatization and commercialization of certain public enterprises. Whatever the shari administration shoes to do in not to do in and received the putty return on investment of N933,701,134 and from subvention of N11,billion, the government got a repayment of only N67,959,735 with N 26,124,463 and interest. This, according to falae, led the government to the inevitable conclusion that the answer lie in privatization and commercialization. In fact, it holds a seminar sometime in 1986 that question was a not whether to practice commercialization but when.
Consequently, in order to reverse this trend in Nigeria government has its economic reform policy (SAP) taken a bold step by embarking on a investment programmed otherwise referred to as deregulation of public to private hands much of as it was determined to relinquish part or whole of its equity and other interest in some of the enterprises in form of commercialization.
1.2STATEMENT OF THE PROBLEM
The focus of this study by the researcher is to throw light on commercialization of public enterprises in Nigeria, hence, in the course of the study effort has been made to find solution to the following question?
1what is commercialization?
2 What is public enterprises?
3 What is the motive for public enterprises commercialization?
What are the policy guidelines of federal government on commercialization?
4 what is the benefit of commercialization
5 What is the problem of commercialization?
1.3 OBJECTIVE OF THE STUDY
The board objective of this study is to examine the commercialization policy of the federal government as it affect the Lower River Benin Authority (LNRBA) with making appropriate recommendation that are lively to enable the establishment active its overall corporate goals. Therefore, the paper respect of the recommendation of the onosode commission, it was evident that the problem of public enterprises and what to do with them has taken the centre stage in the country’s attempt to revamp the economy.
Shortly after taking over power, former head of state Muhammad Buhari, now retired major general, in the same vein appointed a student group on statutory corporations and state would company to review to financing, profitability and performance record of public venture. The group, headed by al-Hakeem, then managing director and chief executive bank of north, submitted its report to buhari government November 29, 1984. It identified the major problem of these enterprises as vague and conflicting objective, inadequate autonomy, flexibility in discussion making process of assets, absence of good credit control system and inability to collection debts.
Lack of adequate cost control measure, ineffective and efficient management and information and accounting system, absence of financial and operational performance target and overstaffing.
Its more important recommendation, as a possible solution to or at least on imagination of these problem is selective privatization in an FRCN Kaduna programme July 25, 1985, buhari gave an indication or his government thinking of an the recommendation of the study group. H aid the government would commercialize some of the public enterprises and sell or the unviable ones.
The prevailing financial constrains experienced by the succeeding government have further worsen the public enterprises in babagida put the issue severally; they (the public enterprise in is 1986 budget spleen president, public enterprises have come to constitute an unnecessary high burden on government resources)
According to much granted statistic released by the then secretary to the federal government, olu falae, between 1980 and 9185 alone, the government invested N Billion in its parastatal will focus on the function and at the initial stage and the necessities for the partial commercialization following the federal government economic reforms.
It will also look at the policy guiding and the plementation of the partial commercialization of the establishment with view to understand the problem and the prospects of the new economic drive of the government.
Lastly, the exercise will give the necessary recommendation and suggestion that can exchange the sustainability and profitability if the organization under the currently depressed and high socio-economic environment in which we are now operating.
1.4 SIGNIFINACE OF THE STUDY
In order to arrive at a premise, on which we can safely draw a conclusion, the method of collection to be employed here questionnaires surely hosed on the random sampling of the target population.
For our purpose in this exercise thee target population on whom questionnaire shall be administrated are the management of the lower river Benin and rural development authority and the operation of the commercialization programmed is vital to this thesis the research will also involved the use of content analysis based on secondary data which h include doing through relevant hooks, journal and report. The method of analysis will simple statistical summaries indicating the level of performance of the authority and the rate of adoption of irrigation resulting from commercialization exercise. The primary data will also be employed in firm of oral interview with most of the staff and the management if the lower Niger River Basin development authority which headquarter is located in Ilorin.
1.5 SCOPE AND LIMITATION OF THE STUDY
The researcher study commercialization of the public prize using lower Niger River Benin Authority, Kwara state. However, the research work is being constrain as to time, lack finance, lack of cooperation from the respondents.
However, the researcher make sure that the constrain do not affect the effect completion of the research work.
1.6 ORGANIZATION OF THE STUDY
This project has specially organization in structure to the best understanding. The chapter one of this project deals with introduction aims and objective the methods employ and the organization of study.
Chapter two of the project deals literature review textbook consulted commercial policy commercial of commercialization and commercialization process.
Chapter three compress of the historical background of lower and Niger River basin development authority.
Chapter four is on interpretation of the allestionare and data analysis and the finally chapter five deals with recommendation, summary and conclusion and bibliography.
1.7 DEFINITION OF TERMS
1 public enterprise: this organization owned by the government to provide service for the citizenry.
2 Commercialization: this is the aim of being more interest in making money than In the value or quality of the things.
3 Capital market: this is the market where stock, share and other instrument can be traded