A Financial Appraisal of the Operational Performance of Privatized Nigeria Company (A Case Study of National Oil Plc, Lagos State)

ABSTRACT

The topic for this project is A financial Aprraisal of the operational performance of privatized Nigeria company. The research study is done in order to get possible solution or recommendation to the problem of the company and to make the staff to be efficient and effective.

          Privatization can be defined basically as the process of transferring the ownership of a public enterprise to the private sector. The method adopted in this paper work was purely primary sources i.e from the field an secondary sources i.e magazine, journal e.t.c. The ratio shall be used as a benchmark for evaluating the performance of the company while the data can be analyzed into two and these are pre-privatization and post privatization.

          In this respect, my aspiration to go into this research work is the modern techniques of finance mobilization, privatization has grown to  attain much popularly as it is how being embraced by many developed countries and developing countries.

TABLE OF CONTENT

TITLE PAGE                                                                                       PAGES

CERTIFICATION                                                                                         I

DEDICATION                                                                                               II

ACKNOWLEDGEMENT                                                                            III

ABSTRACT                                                                                                  V

TABLE OF CONTENT                                                                                VI     

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY                                                  1

1.2     STATEMENT OF THE PROBLEM                                                 4

1.3     SIGNIFICANCE OF THE STUDY                                                   7

1.4     AIMS AND OBJECTIVES OF THE STUDY                                  7

1.5     SCOPE AND LIMITATION OF THE STUDY                               8

1.6     RESEARCH METHODOLOGY                                                       9

1.7     ORGANIZATION OF THE STUDY                                                10

CHAPTER TWO

LITERATURE REVIEW AND THEORETICAL FRAMEWORK

2.1     LITERATURE REVIEW                                                                   12

2.1.1  MEANING OF PRIVATIZATION                                                   13

2.2     PRIVATIZATION IN NIGERIA                                                       16

2.3     THE PRIVATIZATION PROGRAMME                                         18

2.4     PRIVATIZATION AND LIBERALIZATION                                 20

2.5     HISTORICAL BACKGROUND AND REGULATORY           FRAMEWORK OF PRIVATIZATION IN NIGERIA                    24

2.6     THE PRIVATIZATION PROCESS                                                  25

2.7     ESTABLISHMENT OF AN APPROPRIATE LEGAL AND           REGULATORY FRAMEWORK                                                      31

2.7.1  INSTITUTIONAL ARRANGEMENT                                             31

CHAPTER THREE

RESEARCH METHODOLOGY

3.1     INTRODUCTION                                                                               45

3.2     DATA COLLECTION METHOD                                                     45

CHAPTER FOUR

4.0     PRESENTATION ANALYSIS AND INTERPRETATION VIA           STATISTICAL AND ALLIED TECHNIQUES                              49

4.1     ANALYSIS OF PRE-PRIVATIZATION AND POST           PRIVATIZATION OPERATIONAL PERFORMANCE OF           SELECTED COMPANIES                                                                50

4.2     ANALYSIS OF RATIO MEAN VALUE                                         51

4.3.1  TAX FOR THREE COMPANIES                                                     53

4.3.2  POST-PRIVATIZATION AND PRE-PRIVATIZATION MEAN        DIVIDED                                                                                             54

4.3.3  POST-PRIVATIZATION AND PRE-PRIVATIZATION MEAN        RETURN ON CAPITAL EMPLOYED                                            55

4.3.4  POST-PRIVATIZATION AND PRE-PRIVATIZATION MEAN        SHAREHOLDER’S FUND GROWTH                                            56

4.3.5  POST-PRIVATIZATION AND PRE-PRIVATIZATION MEAN        EARNINGS PER SHARE                                                                  57

4.3.6  POST-PRIVATIZATION AND PRE-PRIVATIZATION MEAN        DIVIDEND FOR SHARE AFTER TAX                                          58

CHAPTER FIVE

SUMMARY CONCLUSION AND RECOMMENDATION

5.1     SUMMARY                                                                                        59

5.2     CONCLUSION                                                                                   60

5.3     RECOMMENDATION                                                                      62

BIBLIOGRAPHY