The central objective of privatization in Nigeria is to?

A. Reduce the retrenchment of workers
B. Encourage prompt payment of salaries
C. Improve standard of living
D. Improve the efficiency of enterprises

Correct Answer:

Option D – Improve the efficiency of enterprises

Explanation

The principle for privatization in Nigeria commenced in 1999 with the aim to diversify totally or partially, the shares owned by the Federal Government, its agencies and parastatals in public. enterprise active or dormant. The primary goal of privatization in Nigeria is to reduce the dominance of the public sector and to restructure and rationalize the public sector in order to lessen the dominant unproductive investment in that sector.