FINANCING COMMERCIALISED PUBLIC CORPORATIONS THROUGH CAPITAL MARKET
ABSTRACT
The last few decade saw the Nigerian Public sector being lambasted for poor
performance, mismanagement of resources, corruption, embezzlement, to mention but a
few. In particular the public corporations seem to be drawn in the sea of inefficiency;
ineffectiveness; poor funding; absolute reliance on government grants and subventions;
lack of qualified management Staff; corruption; etc which stops them from achieving their
statutory objectives.
The Federal Government, in an attempt to redeem their lost glory, put in place a number
of policy measures aimed at redefining, redirecting and injecting goal attainment in the
public corporations. Structural Adjustment Programme (SAP) to be precise,
commercialisation and privatisation policies were vigorously pursued by the government.
The researcher singles out some of the objectives contained in commercialisation policy
namely:
To encourage public corporations to approach and secure fund through
the capital market without government guarantee ;
To encourage them to survive without government subvention
The researcher attempted a review of the Nigerian economy; the Nigerian Public
Corporation; the Commercialisation and Privatisation policy; the Nigerian capital market.
Using NITEL as a case study, the researcher examined the extent to which public
corporations had first been able to survive without government funding and secondly the
efforts they had made towards raising required finance through the Nigerian Capital
Market. Equally, we considered the ability and preparedness of the capital market to
accommodate these corporations. Finally, recommendations were made on how to
ensure adequate telecommunication services at minimum cost; the role the NITEL and
PTC should not play the development in telecommunication industry, the government
should not practise but fully commercialise public corporations.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
FINANCING COMMERCIALISED PUBLIC CORPORATIONS THROUGH CAPITAL MARKET
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