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 to
elicit novel ideas that attract comments from academics and other practitioners around the
globe. It is an idea that have transcended over the decades to ensure that public enterprises are
better managed by private individuals and organizations in order to achieve efficiency in their
productivity. Our primary goal in this article to examine the philosophical, political and
ideological basis of the concept of privatization and how this idea has found its relevance in
Nigerian Political landscape via a reflecting on the Nigerian experience. This paper will start
by examining the universal ideas behind concept of privatization, the meaning and origin of
privatization, its influence on Nigeria and references will be drawn from other countries
around the world that have made some giant strides in the field of privatisation of their State
owned enterprises. There will be an overview of the methods of privatization, the nature and
pattern of privatization in Nigeria and why the government opted for privatization of public
utilities. This paper will end with the authors’ conclusion on how Nigeria can benefit from
privatisation policy.