Publisher: University of Calabar

An Assessment of The Privatization of Benue Cement Company Plc, Gboko, Benue State Nigeria: 1986- 2011

Orokpo, Ogbole F.e, Ejeh Adoyi Willliams
KEYWORDS: Commercialization, Privatization, Public Enterprises parastatal, Benue Cement Company

ABSTRACT:

The performance of public enterprises has been a contentious issue in Nigeria since their establishment in the early 1960’s owing to the growing focus of governments on the promotion of rapid social development. Despite the hugh financial resources expended on these enterprises, they continue to witness losses due to absence of profitability, massive looting and gross inefficiency etc. hence, the inability to achieve objectives for which they were established. It was against this backdrop that various policies were introduced by the government to further reposition these enterprises since government could no longer continue to underwrite their losses. It is the assertion of this paper that public enterprise has not performed against the background of the objectives for which they were established. Using the Benue Cement Company PLC, Gboko as a case in point, the paper x-rayed the maladies of public enterprises and proffered some suggestions which if followed could resuscitate these public enterprises and position them for effective service delivery amidst the privatization conundrum .



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