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The Limitations In The Ostensible And Perceived Benefits Of Privatization: A Study Of The Electricity Power Sector In Nigeria

Author

Listed:
  • OJO, Oyetunde Olumuyiwa

    (Ladoke Akintola University of Technology Faculty of Management Sciences, Department of Management and Accounting, Ogbomoso, Oyo State, Nigeria)

  • OYEDELE, Kayode Samson

    (Ladoke Akintola University of Technology Faculty of Management Sciences, Department of Management and Accounting, Ogbomoso, Oyo State, Nigeria)

Abstract

The sine qua non of socio –economic development is constant supply of electricity. In Nigeria, reverse has been the case. Since the public corporation that was charged with the onus of electricity power service delivery had become a national tragedy, the nation could not resist the resolve to privatize it. However, since September 2013 when it was deregulated and privatized, power supply has further been deteriorating; leaving the impression that darkness is yet to abate at the end of the tunnel. This paper argues that Nigerians are now discovering the limit of optimism in privatization and that the magic wand for Nigeria’s energy predicament might after all not be privatization. The methodology of study is qualitative and perceptible relying essentially on objective facts and data. The paper though posits that the failed public corporation is a victim of ruling class grand conspiracy ab initio, however did not advocate the derailment of the privatization policy in view of the enormity of the resources that have been committed into it. It nevertheless recommends that the policy would be more result oriented if there are level playing fields for competition through the removal of barriers restricting trade entry and exit. This will thus give room to privatization coupled with competition rather than what currently subsists as privatized monopolies and oligopolies.

Suggested Citation

  • OJO, Oyetunde Olumuyiwa & OYEDELE, Kayode Samson, 2018. "The Limitations In The Ostensible And Perceived Benefits Of Privatization: A Study Of The Electricity Power Sector In Nigeria," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(46), pages 44-56, November.
    • Handle: RePEc:aio:aucsse:v:1:y:2018:i:46:p:44-56
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    References listed on IDEAS

    as
    1. Peter Samuel Ubi & Lionel Effiom & Emmanuel O. Okon & Anagha Emiemu Oduneka, 2012. "An Econometric Analysis of the Determinants of Electricity Supply in Nigeria," International Journal of Business Administration, International Journal of Business Administration, Sciedu Press, vol. 3(4), pages 72-82, July.
    2. Gerald Crompton & Robert Jupe, 2007. "Network Rail - forward or backward? Not-for-profit in British transport," Business History, Taylor & Francis Journals, vol. 49(6), pages 908-928.
    3. Adenikinju, Adeola F., 2003. "Electric infrastructure failures in Nigeria: a survey-based analysis of the costs and adjustment responses," Energy Policy, Elsevier, vol. 31(14), pages 1519-1530, November.
    Full references (including those not matched with items on IDEAS)

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    JEL classification:

    • M29 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Other
    • D29 - Microeconomics - - Production and Organizations - - - Other

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