Impact of Privatization of Government Owned Companies on the Nigeria Economy (a Case Study of Benin Electricity Distribution Company, Edo State)

ABSTRACT The content of this project work, 'Impact of Privatizatio11 on the Economy using (Benin Electricity Distribution Company, Edo State) the researcher adopts primary and secondary rnea11s ofdata co/lectio11 for the project, pri111a1y data were gotten fro111 the respondents who were selectedfrom BEDC, Benin through the administration ofquestionnaires and secondary dara were gotte11 from the internet, journals and te.,ttbooks. A total nz1111ber of25 respondents we,·e sampled and data we,·e p1·ese11ted i11 table and analysed using simple pe,·centage. The hypothesis formulated were tested agai11st each using chi-square statistical 1nethod It was fo1111d out that privatization plays a g,·eat ,·ole i11 enhanci11g the qz1ality ofse,rvice, attititde of worke,·s to wo,·ks a11d inc,·easedp1·odz1ctivity or output. This r·esea1·ch was conclz1ded that the n1otive ofp1·ivacizatio11 as propounded my some scholars is that gove,·nment have no bitsiness doi11g business and as an institution, they s/1021/d p1-ovide a11 enabling e11viron1nent fo,.. b11si11ess lo t/11·ive. In reality, the attitude ofsome government workers towc1rds the job anel the 11011 profit nature ofgovernment businesses had spz,,- the ,nove towa,·ds pr·ivatizatio,1. It is a/,c;o worthy of110/e thai privatization has brought about improved ser·vice delivery and eco11ontic develop111ent. The study therefore recommends that; privatization should done to 111ost ofthe gove1·n1nent parastatals and 01·ganizatio11 who sziffe1·s 111anage1ne11t inefficiency, poo,· se,·vices, lackfi1nding, lackadaisical attit1.,de ofworlce,·s, co1·1·z1ption, a11d g,·oss inco111petence because se,·vice in p1·ivale 01·ganization are more efficient bette,· and p1·oclz1ctive Nige,·ia. Also the government should create enabling environmentfor this privatized organization to thrive.