CHAPTER ONE
1.0. INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Government establishment from the inception was meant to give its service to Nigerians at subsidized rate with the impact of our oil revenue. Priviatilization was very low because of the developing nature of our economy.
In recent time, the mismanagement of government parastatals has been a subject of debate. This is unconnected with the level of corruption practices which has presented in to the veins of wide range of Nigerian populaces. Lack of full utilization of resources, financial and administrative mismanagement of most public sectors over the year has resulted into weak and stagnant economy. Capital flight excessive debts incurring and under development. The indolent performance of the state in the administration of the public business establishment create a situation in which national funds that could have been used or better spent to generate new economic activities and employment opportunities are being ibid to subsidize dead wood that will never grow or change as analogy for the public enterprise it is against background of re-organizing and making that the government of general Ibrahim Babangida in his budget speech in 1986. categorically declared to pursue a policy of privitilization of government parastatals since the introduction of SAP (Structure Adjustment Programme in 1986 the debate on the issue of priviatilsation has gradually assumed the common with all controversies the emotions generated the controversy of tent overshadows the issue s itself. More so, president Olusegun Obasanjo in one of his broad made it clear to Nigerians the essence of privatilization in this government, which will bring development in all ramifications, privatization is mostly defined as the “ Transfer of government owned industries to public sector implying that the predominate share in ownership of assets in transfer lies will private shareholders”. Taking a survey of privitalization it will discover that it is not a new subject in the economics literature since the end of the end world war, rapid indeed specula development in technology especially in the fields of communication and information management has facilitated increasing contact and interaction amongst people of the world. Technology has also helped to unlock an unprecedented capacity for the creation of wealth and has prompted massive increase on trade between nations.
Commercialization information and trade have facilitated the rapid breaking down of all great barriers, ideology came crushing down the collapse of the solvent union and the system of centrally planning economy that has promoted and championed scene the Russia Revolution of 1918. also after the second world war, Britain embarked on deliberate policy of nationalization of its basic industries with a view to enhancing efficient planning of British economy and to ensure an uninterrupted flow of essential services and goods to the venerability of the populace but the transfer of fourteen (14) large companies and many smaller ones employing a total of absolute 6,000,000 people from public to private hands over the first eight year. British is today a leader in the course of priviatilization of public enterprises with over 90% of the economy in the privatization in the same vein is the united State of America (USA), which seems to be the most privatized economy in the world.
- STATEMENT OF THE PROBLEMS
The role of government enterprises in the economic development of modern nation cannot be ignored. The unique historical condition of the development of modern nation cannot be ignored. The unique historical condition of the developing countries had urged government participation or extensive intervention in most sector of economy a vital necessary.
In the capitalist economy parastatals came in being as part of the general economics policy to correct market failure. The market may lead to no-optical resources allocation for several reasons for instance private and social rationality may diverge externalities and indivisibility may the weak or there may be which has called a “Defective telescope faculty” in the part of private enterprise. Regarding this background the consideration involved in the establishment of state parastatals may be ground under two bases.
Firstly, there is problem of subjective criteria in appointment of executives and principal functionaries of parastatals were appointed not because of their proven integrity and capacity to deliver goods and service but their appointment had been made for the reason of nepotism dressed up in disguise of federal character. This makes sense accountability to be of no space with executive and the result is always that the managers of parastatals becomes complacent n and interest.
Secondly, these is the problem of over supervision by supervising ministries. The irritability of government owned establishment could improve their performance.
- OBJECTIVES OF THE STUDY
The overall study objective is to formulate a broad planning and development framework setting out guidelines an standards for more effective and comprehensive planning for pedestrian at different levels of planning, based on which conceptual pedestrian plans would be prepared for application and assessment of broad impacts and implementation mechanism of the pedestrian planning proposal.
The study aims to promote pedestrian in the plan making and development process and establish the prima facie feasibility of the pedestrian planning proposals to achieve the following objectives