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PUBLIC ENTERPRISE AND SUSTAINABLE SOCIO-ECONOMIC DEVELOPMENT IN NIGERIA
Abstract
One of the interventions of government to take the commanding height of the nation’s economy is the setting up of the public enterprise. Just as the private enterprise, they are supposed to be selffinancing and be free from undue government influence. Unfortunately, what we have are public enterprises that rely majorly on government subventions and as such are seen as a conduit pipe to drill the common wealth of the nation. The paper examines public enterprise and sustainable socio-economic development. The paper adopted a qualitative content analysis approach. The New Public Management model is used to theorize the paper. The study revealed in its finding that public enterprise in Nigeria is beset with corruption which has made it dysfunctional and not able to meet the purpose for which it was created. Sequel to this, the paper recommends that public private partnership and full privatization should be applied to make the public enterprise more efficient and contribute to nation fortunes as attention is gradually shifting to non-oil sector.
Keywords: Public Enterprise, Privatization, Commercialization, State-Owned-Enterprise