THE IMPACT OF PRIVATIZATION ON THE EFFICIENCY OF FIRMS IN NIGERIA

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dc.contributor.authorABDULMALIK, Saidu
dc.date.accessioned2014-03-19T09:57:55Z
dc.date.available2014-03-19T09:57:55Z
dc.date.issued2011-06
dc.descriptionA THESIS SUBMITTED TO THE SCHOOL OF POSTGRADUATE STUDIES AHMADU BELLO UNIVERSITY ZARIA IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF MASTER OF SCIENCE IN ECONOMICS.en_US
dc.description.abstractABSTRACT The transfer of major public enterprises in Nigeria to private sector in the year 2000 marked the beginning of the Nigeria experiment on full privatization of governmentowned entities. Unfortunately, little has been done to assess the efficiency impact of this policy on enterprise performance. This study attempts to provide some empirical evidence from the oil & gas and manufacturing sector on the efficiency impact of the privatization policy in Nigeria. First, the study made use of micro and macro indicators to examine the financial and operating performance of two fully privatized enterprises in competitive sectors in Nigeria by comparing the pre and post-privatization performance. The results albeit mixed, show a significant improvement in some of the indicators, such as profitability in both Africa petrol and ASHAKA Cement Company of Nigeria. Operating efficiency also witnessed an upsurge in the two indicators for both firms. While both firms witnessed a slight increase in capital investment spending as there was no evidence of capital investment spending before privatization in African petroleum. In the case of output African petroleum shows a significant response (positive) to the claim of increase in output than ASHAKA Cement. The evidence shows that there have been significant employment losses in both African petroleum and Ashaka Cement. In the case of leverage African petroleum show significant accentuation to the leverage proposition while ASHAKA Cement is on the negative side. In the two firms, dividend payments increased after divestiture. By exploiting conflicting effects it was found that privatization enhance efficiency in enterprise performance. Secondly, the study has used a mathematical non-parametric linear programming model, called Data Envelopment Analysis (DEA), to measure the relative efficiency and management performance in the presence of incomparable multiple inputs or outputs. Results of subsequent (DEA) analysis appear to indicate that the privatized enterprises are more technically efficient, thus providing some evidence in support of the efficiency hypothesis. Such a finding has important implications on privatization policy in general. These implications are that privatization policy should be vigorously purshued. The lessons learned from this study can obviously be of great help in managing and assessing the current strategies and methods of privatization in Nigeria.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/4034
dc.language.isoenen_US
dc.subjectIMPACT,en_US
dc.subjectPRIVATIZATION,en_US
dc.subjectEFFICIENCY,en_US
dc.subjectFIRMS,en_US
dc.subjectNIGERIAen_US
dc.subjectCASE STUDY,en_US
dc.subjectAFRICAN,en_US
dc.subjectPETROLEUM,en_US
dc.subjectPLC,en_US
dc.subjectASHAKA,en_US
dc.subjectCEMENT,en_US
dc.subjectCOMPANY,en_US
dc.subjectNIGERIAen_US
dc.titleTHE IMPACT OF PRIVATIZATION ON THE EFFICIENCY OF FIRMS IN NIGERIAen_US
dc.title.alternativeA CASE STUDY OF THE AFRICAN PETROLEUM PLC AND ASHAKA CEMENT COMPANY OF NIGERIA.en_US
dc.typeThesisen_US
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