Privatization of Public Enterprises in Nigeria: A Recipe for Sleaze

Privatization is a global phenomenon that made waves in the 1990s after the collapse of the Soviet Union and the reforms in China to accommodate private ownership of business. Research has shown that privatization is a prescription for scam by corrupt leaders in third world countries and some emerging economies. This book reviews privatization programs in selected countries from all the continents of the world and proves that corrupt leaders and their proteges have hidden under the guise of creating a lean government to rip-off the masses of the collective wealth for private gains. Evidence from several countries also indicate that privatization has not provided any panacea for ailing economies. From Nigeria to Brazil, from Russia to Mexico, from Argentina to Romania, from India to Zambia, from China to Egypt, the masses bear the burden of a rogue and corrupt privatization scheme, usually supported by the Breton Wood institutions thus causing pain and sorrow for the vast majority of the people while a privileged few appropriate the nation's wealth for themselves and their cronies.