An Evaluation of the Privatization Policy in Nigeria, A Case Study of Power Holding Company of Nigeria (Phcn)

ABSTRACT

This research study is an evaluation of the privatization policy in Power Holding Company of Nigeria (PHCN). The objective of the study is to assess the privatization policy administration as the existing solution to the problems of public enterprises, with a view a identify problem areas for possible policy review. Three hypotheses were formulated, the first was on efficiency and effectiveness, the second on funding issues and the third was on policy interest. The methodology adopted was that data were collected from both primary and secondary sources, using questionnaire method and analyzed using table and simple percentages. The findings of the research were that privatization policy has not been efficiently and effectively administered and the policy was not able to reduce reliance of public enterprises on government for funding. It also reveals that the policy was not formulated and administered in the interest of the masses. It was against this backdrop that this study has recommended that power Holding Company of Nigeria should not be privatized, but should be overhauled, decentralized and appropriate discipline and disciplinary measures be instilled to ensure efficiency and effectiveness. The enterprises should also utilize all sources of funds available to them in order to decrease reliance on government for finance.