AN ASSESSMENT OF COST PERFORMANCE AND ACCOUNTABILITY IN PRIVATIZED PUBLIC ENTERPRISES IN NIGERIA. (A STUDY OF OANDO (UNIPETROL) PLC IN ENUGU STATE)
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Abstract
Despite an impressive level of privatization activity across Africa and the upsurge in search of the operating performance of privatized firms in both develop and developing economies, our empirical knowledge of the privatization program in Africa is limited. The purpose of this study is to appraise the post privatization cost and operating performance as well as accountability of some privatized public enterprises in Nigeria. A survey research design was adopted for the study, sixty five internal audit and thirty five accounting. Totally one hundred was randomly sampled and stratified among the staff of Oando plc Enugu state. Three research questions and hypothesis tested at 0.05 percent level of significance guided the study. Frequencies, percentages, mean and standard deviation were employed to answer the research questions while Z-test statistics were used to test the hypothesis. It was found that privatization of unipetrol has led to efficient and improved cost performance, and proper accountability to share holders. We conclude and recommend among others that effective cost performance and proper accountability to share holders is very necessary in privatized public enterprises and that government should prive the entire necessary enabling environment for the privatized company to carry out their activities without unnecessarily increasing their cost.
TABLE 0F CONTENT
Title page 1
Approval page 2
Certification 3
Dedication 5
Acknowledgement 6
Table of content 7
Abstract 11
CHAPTER ONE
1.0 Introduction 12
1.1 Background of the Study 12
1.2 Statement of problem 16
1.3 Research questions 17
1.4 Objective of the study 18
1.5 Statement of hypothesis 1
1.6 Significance of the study 19
1.7 Scope of the study 20
1.8 Limitation of the study 20
1.9 Definition of key terms 21
CHAPTER TWO
2.0 Introduction 24
2.1 Literature review 24
2.2 The nature and concept of public enterprises 24
2.3 Performance of public enterprises in Nigeria 28
2.4 Problems of public enterprises in Nigeria 35
2.5 Public enterprises privatization in Nigeria 41
2.6 Concept of privatization 52
2.7 Types of privatization 55
REFERENCES 57
CHAPTER THREE
3.0 Introduction 59
3.1 Research Questions 59
3.2 Source of Data 60
3.2.1 Primary source of data 60
3.2.2 Secondary source of data 60
3.3 Area of Study 61
3.4 Population of the study 61
3.4.1 Sampling design and technique 61
3.5 Instrument of data collection 63
3.6 Reliability of the test Instrument 63
3.7 Validity of the research instrument 63
3.8 Method of data Analysis 64
CHAPTER FOUR
4.0 Analysis of data and testing of hypothesis 66
4.1 Data presentation and analysis 66
4.2 Test of hypothesis 73
4.3 Tabulating the result 84
CHAPTER FIVE
5.0 Summary, Conclusion and Recommendation 86
5.1 Summary 86
5.2 Conclusion 87
5.3 Recommendation 88
BIBLIOGRAPHY 90
APPENDIX I 93
APPENDIX II 94
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