Private lessons

摘要

The big state-owned enterprises that provide key public services need serious attention How is the government going about readying them for privatisation and what has it learned from past failures? Despite numerous privatisations of public enterprises going back to 1988, more than 100 companies remain state-owned in Nigeria. Most are due for privatisation in the next few years but the fate of just five are proving a crucial test of government's reform resolve. The five are: the National Electric Power Authority (NEPA), Nigeria Telecommunications (NITEL), the Nigeria Ports Authority (NPA), the Nigerian Railway Corporation (NRC) and the Nigerian National Petroleum Corporation (NNPC) refineries. All are providers of strategic public services and all are in a deplorable state, incapable of meeting the most basic of service level requirements. Crippled by inefficiency, corruption and underinvestment, all represent a serious constraint on economic development.