Privatization of Public Enterprises and Nigeria Sustainable Development (A Review Article)

One of the numerous challenges facing this country is how to bail out Nigeria’s public enterprises from inefficiencies and obsolesce, which were set up to accomplish certain objectives. The enterprises in Nigeria have found themselves in a state of perfidy, low performance and undoubted inefficiency. Given this situation, the present administration, is bent on revitalizing these enterprises so as to achieve a developed and sustainable economy. One of the bold steps taken is to privatize and commercialize them so that their lost image can be redeemed. In the light of the above, there is an attempt in this paper to discuss the socio-economic justification for and the role of public enterprises in the Nigerian context, their performance before the new policy, privatization in action, its implication and finally suggests alternatives, strategies to this policy.