Privatization and state-owned enterprises performance: The case of Nigeria

Privatization and state-owned enterprises performance: The case of Nigeria

A government involved in economic activities for national development, redistribution of resources, economic growth, and elimination of bottlenecks in the various sectors of the economy. For these reasons, state-owned enterprises (SOEs) become large and significance. The absence of entrepreneurial...

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Main Author: Muhammed, Magaji Abubakar
Format: Thesis
Language:eng
eng
Published: 2015
Subjects:
DT Africa
HJ Public Finance
Online Access:https://etd.uum.edu.my/5403/1/s93973.pdf
https://etd.uum.edu.my/5403/2/s93973_abstract.pdf
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institution Universiti Utara Malaysia
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language eng
eng
advisor Hassan, Sallahuddin
topic DT Africa
HJ Public Finance
spellingShingle DT Africa
HJ Public Finance
Muhammed, Magaji Abubakar
Privatization and state-owned enterprises performance: The case of Nigeria
description A government involved in economic activities for national development, redistribution of resources, economic growth, and elimination of bottlenecks in the various sectors of the economy. For these reasons, state-owned enterprises (SOEs) become large and significance. The absence of entrepreneurial class, shortage of capital, and oil revenue spurred more government involvement in all sectors of the Nigerian economy. However, the justifications for government involvement in the economic activities were gradually replaced with inefficiencies, misallocation of resources, rent-seeking and political goals, exposing SOEs as being inefficient and problematic. As a result, the government introduced privatization. The Nigerian government has been privatizing its holding in SOEs since 1990. The objective of this study was to appraise the performance of privatized SOEs in Nigeria. The research used secondary data sourced from the annual reports of selected SOEs. The dependent variables were profitability and efficiency which were divided into six indicators namely gross profit margin, net profit margin, operating profit margin, sale efficiency, net income efficiency and average collection period. The independent variables are privatization, sales, capital, workers and ownership. Privatization is the focus variable. The analysis was divided into mean comparison, panel data analysis (fixed effects model and random effects model) and generalized method of moments. The analysis produced diverse results. The mean comparison results indicated that the post-privatization performances of the selected SOEs are more than their preprivatization performance, implied that the implementation of privatization policy have improved their performances. In panel data analysis, the results of the profitability and efficiency models indicated that most of the enterprises documented mixed performance increased. Similarly, in the generalized method of moments, privatization has revealed diverse results of SOEs performance. In sum, the findings revealed mixed performance improvement of the privatized SOEs. Policy makers and managers of enterprises should be concerned with policies that enhance SOEs performance. The SOEs managers must ensure strict conformity to the profitability enhancing measures rather than political goals that create inefficiencies and waste of resources. Finally, the results of study supported the government effort in privatizing the rest of the SOEs
format Thesis
qualification_name Ph.D.
qualification_level Doctorate
author Muhammed, Magaji Abubakar
author_facet Muhammed, Magaji Abubakar
author_sort Muhammed, Magaji Abubakar
title Privatization and state-owned enterprises performance: The case of Nigeria
title_short Privatization and state-owned enterprises performance: The case of Nigeria
title_full Privatization and state-owned enterprises performance: The case of Nigeria
title_fullStr Privatization and state-owned enterprises performance: The case of Nigeria
title_full_unstemmed Privatization and state-owned enterprises performance: The case of Nigeria
title_sort privatization and state-owned enterprises performance: the case of nigeria
granting_institution Universiti Utara Malaysia
granting_department School of Economics, Finance & Banking
publishDate 2015
url https://etd.uum.edu.my/5403/1/s93973.pdf
https://etd.uum.edu.my/5403/2/s93973_abstract.pdf
_version_ 1747827927427317760
spelling my-uum-etd.54032021-04-04T07:56:48Z Privatization and state-owned enterprises performance: The case of Nigeria 2015 Muhammed, Magaji Abubakar Hassan, Sallahuddin School of Economics, Finance & Banking College of Business DT Africa HJ Public Finance A government involved in economic activities for national development, redistribution of resources, economic growth, and elimination of bottlenecks in the various sectors of the economy. For these reasons, state-owned enterprises (SOEs) become large and significance. The absence of entrepreneurial class, shortage of capital, and oil revenue spurred more government involvement in all sectors of the Nigerian economy. However, the justifications for government involvement in the economic activities were gradually replaced with inefficiencies, misallocation of resources, rent-seeking and political goals, exposing SOEs as being inefficient and problematic. As a result, the government introduced privatization. The Nigerian government has been privatizing its holding in SOEs since 1990. The objective of this study was to appraise the performance of privatized SOEs in Nigeria. The research used secondary data sourced from the annual reports of selected SOEs. The dependent variables were profitability and efficiency which were divided into six indicators namely gross profit margin, net profit margin, operating profit margin, sale efficiency, net income efficiency and average collection period. The independent variables are privatization, sales, capital, workers and ownership. Privatization is the focus variable. The analysis was divided into mean comparison, panel data analysis (fixed effects model and random effects model) and generalized method of moments. The analysis produced diverse results. The mean comparison results indicated that the post-privatization performances of the selected SOEs are more than their preprivatization performance, implied that the implementation of privatization policy have improved their performances. In panel data analysis, the results of the profitability and efficiency models indicated that most of the enterprises documented mixed performance increased. Similarly, in the generalized method of moments, privatization has revealed diverse results of SOEs performance. In sum, the findings revealed mixed performance improvement of the privatized SOEs. Policy makers and managers of enterprises should be concerned with policies that enhance SOEs performance. The SOEs managers must ensure strict conformity to the profitability enhancing measures rather than political goals that create inefficiencies and waste of resources. 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