THE ROLE OF ACCOUNTANTS IN THE PRIVATIZATION AND COMMERCIALIZATION
| PAGES = 45 | CHAPTER = 1 – 5 |
ABSTRACT
This research aims to explore the pivotal role that accountants play in the privatization and commercialization of public enterprises within the Nigerian economy. It delves into the critical information provided by accountants and their contributions to the success of these processes, highlighting that accountants are indispensable among the various professionals involved in these initiatives. They serve as the foundation upon which the success of any privatization or commercialization effort is built.
Accountants in Nigeria today encounter numerous challenges in carrying out their duties. However, based on my findings, I recommend that accountants be granted greater autonomy in the execution of these tasks to significantly boost the profitability of such parastatals.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of content
CHAPTER ONE:
1.0 Introduction
1.1 Background of the study
1.2 Objectives of the study
1.3 Scope and Limitation
1.4 Definition of terms
CHAPTER TWO:
2.1 The functions and objectives of National Council of Privatization and commercializaiton
2.2 The Impact of privatization and commercialization on the Accountants
2.3 Problems of Nigerian Accountant
2.4 The Accountants and the Public in General
CHAPTER THREE:
3.1 Summary of findings
3.2 Conclusions
3.3 Recommendation
3.4 References
CHAPTER ONE
1.0 INTRODUCTION:
The economic recessions and shifts in the early 1980s led to a significant decline in public revenue. In response, the government appointed various study groups to assess the operations of public enterprises with the aim of establishing a new funding framework, optimizing capital structures, and implementing incentive measures to boost productivity and efficiency, even as government revenues dwindled and the demand for social services grew. This effort culminated in the creation of the National Council on Privatization, where the President remarked, “There are over 1,000 state-owned enterprises in Nigeria. Many of these enterprises consume billions of naira without delivering the expected positive outcomes in terms of consumer satisfaction, which should be the highest priority.”
1.1 BACKGROUND OF THE STUDY:
This research topic highlights the pressing need for effective privatization and commercialization as the most viable solution to the challenges faced by public enterprises. The rationale behind this approach is to reduce the significant financial and operational burdens these enterprises place on the government while ensuring they meet the original objectives for which they were established. By transitioning key economic enterprises from public ownership to private sector control, the aim is not only to improve efficiency and productivity but also to address the deep-rooted issues of inefficiency and indiscipline that have long plagued state-owned enterprises. This strategic shift is intended to foster a more dynamic, competitive, and results-oriented environment, ultimately leading to better management and enhanced performance of these critical economic entities.
1.2 OBJECTIVES OF THE STUDY:
The objectives of this research are centered around the following key areas:
(a) To explore the pivotal role that accountants play in the privatization and commercialization processes within Nigeria.
(b) To assess the reliability and accuracy of the information provided by accountants during the implementation of these initiatives.
(c) To delve deeply into the specific types of information that accountants contribute in the execution of these programs, uncovering how their expertise influences the success of privatization and commercialization efforts.