ABSTRACT
The research was
on privatization or public enterprise and its implication in economic
policy and development of Cross River State. Data were collected
primarily through the use of questionnaire and secondarily source
through the reviews of relevant academic materials. The data collected
were used to test the hypothesis and the result of finding revealed
that, there is significant relationship between corruption and dishonest
practice of staff. The study recommended that for public enterprise to
meet the people’s expectations, the government should play a giant role
of pumping more money into the enterprise the staff must be trained of
perform their responsibilities, corruption must be reduced to its
bearest minimum and management capacities of the government must be
increased through further training and retention of skilled staff.
CHAPTER ONE
GENERAL INTRODUCTION
1.1 Introduction
Cross River State public
enterprises are generally corporate entities other than ministerial
departments they derive their existence from special statutory
instruments and engage in special business type of activities to provide
goods and services for the overall social economic upliftment of the
citizen these include corporation, authorities, boards and enterprise so
owned and operated (Jerome 1999).
The non-performance of the public
enterprise has prompted series of discussion and policy recommendations
on how best to move them out of their present quagmire. It was for this
quagmire that in 1999, the Cross River State government instituted
sweeping reforms across the various sector of the state economy where
they recognized that public expectations.
They were conceived to be
consuming a large portion of national resources without discharging the
responsibilities thrust upon them.
1. That they create economic difference
2. They incur huge financial resources
3. They absorb disproportionate share of credit and especially in the form of foreign loans (Oluade 2007).
While the public remains
divergent in their feelings regarding policy choice and actions the
state governments seems decided, poised and irrevocably committed to the
privatization option towards this end.
A decree was promulgated that is
decree No. 25 of 1988 to give practice effects to and set approximate
machineries in motion to privatize some government enterprises.
1.2 The research problem
Privatization programme just like any other of programme initiated by the state government did not just start.
Privatization programme arose
because the defunct public enterprises had to meet public expectation
they were alleged to be consuming a large portion of national resources
hereby creating economic inefficiencies, incurring huge financial
resources and absorbance of disproportionate share of credit especially
in the form of foreign loans. It could be used interwovenly with
commercialization though privatization involves the sale of government
owned company to private investors or individuals who now becomes the
new owners changing the way government owned companies operate to ensure
that they run commercially and make profit the existing differences is
their ownership structure.
1.3 Purpose of the study
The primary
purpose or aims of the study is to find outs why government had decide
to embark on privatization programme and their implication in economics
policy and developments in Cross River State. It is worthy of note that
the primary goals of privatization programme is to make the private
sector, the leading engine growth of the Cross River State economy the
government intends to use the privatization programme to take Cross
River State back into the global economy as a plant form to attracts
foreign direct investment in an open, fair and transparent method.
1. To send a clear message to local
and international community that a new and transparent Cross River State
is open for business.
2. To Restructure and revitalize the
public sector in order to substantially reduce the dominance of
unproductive government investment in the sector.
3. To create jobs, acquire now knowledge, skills and technology and expose Nigerians to internationals competition.
4. To raise funds for financing
socially eradicated programme such as poverty eradicated programme such
as poverty eradication, wealth creation and infrastructure.
1.4 Research questions
This study aims
at asking some fundamental questions which I believe if poverty analyzed
will help us to understand more reasons behind privatization programme
in Cross River State.
These research questions are:
1. What is privatization?
2. Why are public enterprises privatized?
3. Does it have any implication in economic policy and developments of Cross River State?
4. Who are the beneficiaries of privatization?
5. Do you think it should be encouraged?
1.5 Significance of the study
Researchers are
usually conducted with a view to contributing to already existing
knowledge and understanding about a particular discipline.
The opportunity provided by this
study will used to explore the factors that gave rise to privatization
of public enterprises in Cross River State and its implication on
economic policy and development in Cross River State. It is believed
that the study and many suggestion will contribute immensely to the
reasons behind the privatization of publics enterprises its implications
in Economic policy and development in Cross River State.
Furthermore, this study would
endeavor to show that public enterprises are set up or established to
bring upliftments and elevation in the economic life of the state and
citizenry.
Finally, the research may serve
as a mark for further study on the privatization of public enterprises,
understand the problems and proper solution to them.
1.6 Scope of the study
The study covers privatized enterprises government owned in Cross River State.
1.7 Definitions of relevant terms
It is imperative to give an operational meaning to some of the words that is used in the study;
- Privatization: This means the sale of government assets or enterprises wholly or partially to privates investors for effective management.
ii. Government: This
has to do with a group of individual exercising legitimacy and
authority and is also an institution through which the will of the state
is formulated, expressed and attained.
iii. Enterprise: Ventures that exist to yield profit and renders services to people.
iv. Economy: The state of a country or region in terms of the production and consumption of goods and services and the supply of money.
v. Development: This has to do with concentrated efforts which are made to facilitate significant increase in productivity.
vi. Interview: Refers to meeting of people or persons either face to face or dialogue with aim of getting information about an issue.
1.8 Organization of the study
This research
work is divided into Five Chapters. The first chapter represents an
overview of the study, significance of the study, scope of study,
definition of some relevant terms and research question.
The second chapter deals with the
theoretical based on conceptual framework and reviews related
literature as will as the model or theories.
The chapter three talks about research design, data preparation, instrumentation, validity/reliability of instrument.
Chapter four talks about data presentation, analysis and the discussion of findings.
Chapter five talks about summary of findings, recommendation and conclusions.