Thesis Abstract

Abstract
The privatization and commercialization of public enterprises have become significant aspects of economic reforms in many developing countries, including Nigeria. This research project explores the crucial role that accountants play in the privatization and commercialization process of public enterprises in the Nigerian economy. Accountants are essential in providing financial expertise and advisory services throughout the different stages of privatization and commercialization. They are involved in conducting financial due diligence, valuing assets, assessing the financial health of enterprises, and developing financial models to guide decision-making. Accountants also play a critical role in ensuring transparency, accountability, and compliance with regulatory frameworks during the privatization process. Moreover, accountants contribute to the effective post-privatization management of enterprises by implementing financial controls, monitoring performance indicators, and providing financial reporting to stakeholders. Their expertise is crucial in facilitating the transition of formerly public enterprises into commercially viable entities that can compete in the market. In the context of the Nigerian economy, the role of accountants in privatization and commercialization is particularly significant due to the country's history of state-owned enterprises and the need to enhance economic efficiency and competitiveness. Accountants are instrumental in aligning the financial strategies of privatized enterprises with broader economic objectives, such as job creation, revenue generation, and sustainable growth. Furthermore, the research project examines the challenges and opportunities faced by accountants in the privatization and commercialization process in Nigeria. These challenges include navigating complex regulatory environments, managing stakeholder expectations, and addressing ethical considerations in financial decision-making. On the other hand, opportunities for accountants in this context include expanding their professional expertise, contributing to national economic development, and playing a key role in shaping the future of Nigeria's business landscape. Overall, the research project highlights the indispensable role of accountants in the privatization and commercialization of public enterprises in the Nigerian economy. By leveraging their financial expertise, ethical standards, and strategic insights, accountants can drive the successful transformation of public enterprises into efficient, competitive, and sustainable entities that contribute to economic growth and development.

Thesis Overview

1.0 INTRODUCTION:

The economic recessions changes in the early 80’s to the general decline in public revenue. As a result of this, government appointed several study group to examine their operation with a view to determine the basis for a new funding scheme, operate capital structure as well as incentive measures to enhance their productivity and general efficiency in the face of declining government revenue and expanding demand for social services. This has led to the inauguration of National Council on privatization where the President stated thus, “there are over 1000 State owned enterprises in Nigeria. Many of these enterprises gulp billions of naira without yielding much positive result in terms of consumer’s satisfaction which ought to be the top priority”.

1.1 BACKGROUND OF THE STUDY:

This project topic emphasizes that the only rational remedy is to reduce the burden through effective privatization and commercialization of the public enterprise, in other to achieve the aim and goals of establishing them and also a programme to cure the inefficiencies and indiscipline in the stated owned enterprise, which will later help in controlling the operation of certain key economic enterprise from the public to the private sector.

1.2 OBJECTIVES OF STUDY:
The objectives of this research work is to investigate or enquire for the following:
(a) the sole of accountants in the privatization and commercialization in Nigeria.
(b) To inquire into the reliability of the information supplied by the accountant in the implementation of the exercise.
(c) To dig dip into the type of information the accountant supplied in the execution of the programme.
1.3 SCOPE AND LIMITATION:

Obviously, there are many public enterprise that are stated for privatization and commercialization whether full or partial in each respect.