Key Features:
- No of Pages: 97
- No of Chapters: 05
Introduction:
Abstract
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Table of Content
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Significance of the Study
1.6 Scope of the Study
1.7 Definition of Terms
CHAPTER TWO
LITERATURE REVIEW
2.1 Meaning of Privatization
2.2 Arguments in Favour of Privatization
2.3 Objections of Privatization
2.4 Remedial Actions to Privatization
2.5 Challenges to NNPC
2.6 Policy of OPEC in promoting Sustainable
Energy Future
2.7 Human Capital Development Policy of NNPC
2.8 Policy of Products Evaluation and Vessel
Turnaround
2.9 Policy on Strategic Journey of NNPC
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Source of Data
3.2 Population of the Study
3.3 Sample Size Determination
3.4 Sampling Technique
3.5 Research Instrument
3.6 Questionnaire allocation and Administration
3.7 Validation of Research Instrument
3.8 Limitations of the study
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1 Data Presentation and Analysis
4.2 Test of Hypothesis
CHAPTER FIVE
SUMMARY OF FINDINGS, RECOMMENDATIONS AND CONCLUSION
5.1 Summary of Findings
5.2 Recommendations
5.3 Conclusion
Bibliography
Appendix
Introduction
1.1 BACKGROUND TO THE STUDY
The Nigerian National Petroleum corporation and the petroleum ministry appear desperate to maintain their hold on the downstream sector of the oil industry by planning new refineries and voting more money to maintain the existing refineries such as Enugu, Kaduna, Warri and Port-court
The moves have undoubtedly raised doubts about the federal government’s privatization policy and its avowed commitment to the liberalization of the+ oil industry.
According to Austin Oniwon (2006), the NNPC group managing director the corporation is forging ahead with its plans for the construction of Greenfield refineries and petrochemical plants.
According to Okorie .M. (2006:231) privatization can be defined as the selling and transferring of at least part of the state ownership of a corporation to private owners. It can be defined as the process where by the government handover its management or assets of services to private interest.
According to Odike .J. (2002: 263) privatization is a direct obverse of nationalization. It involves the sales of formerly public enterprises to private individuals and groups. Privatization can also be partial (government still retiring some shares in the businesses) or total (ownership is entirely transferred to the private persons who have paid an agreed amount to the government).
In Nigeria, the Decree No. 25 was enacted in July 1988 to set up the privatization and commercialization programmes. As at this year 2006, it has not been possible to carry out a comprehensive privatization of government enterprises.
On 18th, 2002, the Federal Government has suspended its planned privatization of Nigeria National Petroleum Corporation (NNPC) refineries and its subsidiaries until all issues raised by workers in the industry are resolved. A committee headed by employment, labour and productivity, minister Alhaji Musa Gwadabe has been set up to critically examine and resolve all workers concern as well as that of other stakeholders.
The privatization and commercialization Act of 1988, which later set up the technical committee on privatization and commercialization (TCPC) Chaired by Dr. Hamza Zayyad with a mandate to privatize III public enterprises and commercialize 34 others. In 1993, having privatized 88 out of the III enterprises listed in the decree. The TCPC concluded its assignment and submitted a final report which NNPC is inclusive.
Operators in the oil and gas industry has warned that the proposed privatization of the Nigeria National Petroleum Corporation (NNPC) may not succeed unless the federal government put in place necessary measures to ensure that the budgeted plan model does not go the way of Nigerian Telecommunications Company (Nitel). Industry Operators agreed that the privatization of the national oil company is the best thing, that could happen in the sector. They, however, cautioned the government to avoid the mistakes made with Nitels privatization.
1.2 STATEMENT OF THE PROBLEM
The issue of privatization has been a subject of intense global debate in recent years. In Africa, it has remained highly controversial and political risky. Privatization in Nigeria (NNPC) has not been a popular reform. It has received so much criticism from labour, academic and individuals. There have been numerous strikes against proposed sell-offs by unions fearing loss of jobs. While proponents of privatization see that aspect of economic reform as an instrument of efficient resource management for rapid economic development and poverty reduction, the critics argue that privatization inflicts damage on the poor through loss of employment, reduction in income, and reduction access to basic social services or increases in prices. Indeed, despite the fact that privatization has taking place on our oil sector, the economy still softer the above mention problems up to date.
1.3 OBJECTIVES OF THE STUDY
The objectives of the study include the following
1. To determine the contribution of privatization towards the growth and development of NNPC and Nigeria as a whole.
2. To determine/identify major problems associated with privatization of public enterprises using NNPC as a focus study.
4. To itemize solution to problems of privatization of public enterprise with particular reference to NNPC.
6. To make recommendations on privatization policy in Nigeria.
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