Public Enterprises and Economic Development in Nigeria: A Critical Analysis
DOI:
https://doi.org/10.69974/glskalp.05.01.03Keywords:
Public Enterprises, Economic Development, Modernization, Economy, Private EnterprisesAbstract
The study examines public enterprises as basis for economic development in Nigeria. Survey research method is used. The study is anchored on modernization theory. The gap of the study is that public enterprises should be properly managed because of the critical role it plays in economic development. This study relies on secondary sources of data as veritable tools for its analysis. Findings revealed that public enterprises that are supposed to champion the recovery of Nigerian economy are not living up to expectation. The study concludes that in other climes because of the critical role public enterprises play towards economic growth, they are properly managed, but in the Nigerian experience, the reverse is the case. The study recommends that since public enterprises are different from private enterprises that are mainly for profit making, they should be properly managed by the relevant authorities to ensure the realization of the felt needs, yearnings and aspirations of all Nigerians.
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