APPRAISAL OF THE PHILOSOPHICAL, POLITICAL AND IDEOLOGICAL CONCEPT OF PRIVATIZATION: A REFLECTION ON THE NIGERIA EXPERIENCE

Abstract

The concept of privatization is not a new phenomenon but the practice continues toelicit novel ideas that attract comments from academics and other practitioners around theglobe. It is an idea that have transcended over the decades to ensure that public enterprises arebetter managed by private individuals and organizations in order to achieve efficiency in theirproductivity. Our primary goal in this article to examine the philosophical, political andideological basis of the concept of privatization and how this idea has found its relevance inNigerian Political landscape via a reflecting on the Nigerian experience. This paper will startby examining the universal ideas behind concept of privatization, the meaning and origin ofprivatization, its influence on Nigeria and references will be drawn from other countriesaround the world that have made some giant strides in the field of privatisation of their Stateowned enterprises. There will be an overview of the methods of privatization, the nature andpattern of privatization in Nigeria and why the government opted for privatization of publicutilities. This paper will end with the authors’ conclusion on how Nigeria can benefit fromprivatisation policy.