Impact Of Commercialization On The Economy

INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The ultimate goal of any credible and legitimate government is to ensure sustained improvement in the standard of living of the citizenry. Toward this end, the government usually evolves development plans that will facilitate effective mobilization, optimal allocation and efficient management of national resources.
In such efforts, priority is usually given to the provision of development facilitators, such as transportation and communications as well as social overhead, such as education and health. Drawing on the successful experience of most developed economies, all developing countries have also adopted a similar development process. In addition for several reasons such as the small size of the private sector or for the so called “security reasons”, the development process had seen largely dominated by the public sector available evidence suggests that this public sector dominated process has not achieve the desired impact over time prominent among which is the lack of an inclusive framework on the consequent with alienation of the people from the public policy process. This, coupled with recent development in the globalizing world, have precipitated the clamour for comprehensive national economic reforms that will facilitate more efficient macroeconomic management and thereby steer the economy back on to the path of sustainable grow and development.
The major components of this reform are the deregulation that argues well for the promotion of a private sector-led economy. This was informed by the assumption that the private sector is more efficient in the allocation of resources and that this level of efficient will be enhanced in a competitive environment emanating from the deregulation of the economy. This implies that the reliance on the market rather than the state is the accepted a notate against the problem of underdevelopment in affected economies. The commercialization of State Owned Enterprises (SOE) is the major strategy for obliterating the culture of public sector domination of the economy. Nigeria is committed to following the footsteps of several countries that have embarked upon the commercialization of the national economy. The scope of the nation’s commercialization program covers several sectors, including banking and finance, oil and gas, telecommunication, manufacturing, hospitality and tourism and others. The commercialization train has now arrived into the utility sector and it is operating at varying degrees within the sub-sectors therein. Given the criticisms that have trailed the implementation of the commercialization programs in other sectors, it appears timely to evaluate the commercialization process of the nation’s utility sector. This with a view of ensuring compatibility of the new policy orientation with the overall goal of poverty alleviation through wealth creation and sustainable development, rather than focusing on growth as an end by itself.
It will also facilitate a pro-action framework towards ensuring a pro- commercialization of the utility sector in Nigeria, with special emphasis on power and telecommunication which are necessities for economic growth and development.

1.2 STATEMENT OF PROBLEMS
Commercialization of public enterprises is a vital tool for the upliftment of a country economy more especially. The developing countries like Nigeria. The problem facing commercialization to the growth of Nigeria economy will be looked into: problems like corruption, lack of transparency, lack of accountability, in consistency and incredibility. However, it is on these problems that hundred of the government to seen the growth on which commercialization and commercialization public sector would bring to Nigeria economy. In trying to look into the effect of commercialization effect to the growth of the economy and proffer a way forwards a positive state of commercialization of public enterprises in Nigeria this research work emanated.

1.3 OBJECTIVES OF STUDY
The broad objective of this research work is to evaluate the effect of commercialization and commercialization on issues of economy growth in many companies, private companies are looking for profit and their objectives may diverge from the public interest. The orthodox approach substitutable when it comes to provision of goods and services, subject to appropriate regulation. While this may be the case in the majority of products, divergent objectives have been problematic when it comes to delivery of essential services.
The specific objective is
1. To evaluate the nature or the relationship that exists between commercialization of PHCN and telecommunication in Nigeria.
2. To examine the impact of commercialization sector on Nigeria economy.
3. To offer some recommendations based on the findings of the study.

1.4 RESEARCH HYPOTHESIS / QUESTIONS
The following hypothesis has been formulated based on the objectives of the study and the statement of the problems stated as follows:
HO: Commercialization and commercialization have a positive effect to the growth of Nigeria economy.
Hi: Commercialization and commercialization have no effect to the growth of Nigeria economy.

1.5 SIGNIFICANCE OF THE STUDY
Commercialization of public sector enterprises is not new in Nigeria. Indeed, commercialization was a key element of the structural adjustment programme adopted by the Nigeria government in 1986 to stabilize the economy and position it, for sustainable growth. What is new in the on-going commercialization process is the coverage and determination of the government to extend to the utilities (power) airways, petroleum, refineries and the petrochemical plants.
It is a statement of fact that the private sector is profit driven and this would undermine the rights of the populace to basic amenities in the absence of adequate protection.

1.6 SCOPE OF THE STUDY
The research work which is based on the commercialization of public enterprises and the impact so far.
The commercialization policy covers both the statutory co-operation, state owned companies and joint-stock companies.

1.7 LIMITATIONS OF THE STUDY
In this research work, I countered a lot of hindrances which hindered and constrained me from getting more information.
Firstly, lack of respondent from public officers.
Secondly, poor financing for getting of materials for data about this research.
Finally, lack of information materials limited the research. Data collection was hectic because materials were searches.

1.8 DEFINITION OF TERMS
Some definition of terms is used in the study were as below:
a. Authority: It means power or right to give order and make others to be obeyed.
b. Commercialization: This is concerned with the reform of public enterprises to achieve high efficiency and productivity without change of ownership.
c. Electric: This means all the phenomena associated with electrons (negative charge) and proton (positive charge) the study of these phenomena.
d. Privatization: This means transfer of ownership of enterprise between the government and the private sector.
e. Problems: This stands for questions to be solved or decided.
f. Public: The citizens of a country.
g. Public Enterprises: This means any corporation, board, company or parastatal, established by or under any enactment in which the government federation has ownership or equity interest.
h. Strategic Investor: It means a reputable core investor or group of investors having the requisite technical expertise, the managerial experience and financial capacity to effectively contribute to the management of THE ENTERPRISES BE PRIVATIZED.