Understanding the Failures of Public Enterprises and Re-Engendering the Pursuit for Development in the Contemporary Nigeria

Abstract

Over the years, there have been a vacuum on service delivery, governance and citizens welfare in Nigeria. Alot of factors could be responsible for it. However, it seems the agencies set up by government to provide public goods and services are not in anyway performing near mediocre level. It is against this backdrop, this study focused on understanding the failures of Public enterprises and re-engendering the pursuit for development in the contemporary Nigeria. We made use of the historical design, which is a qualitative research method. Our data was collected from secondary means like journals, articles, text books, publications, internet, etc. The tenets of the economic development theory were used to explain our argument. From the study, it was discovered that, the public enterprises created by government to provide public goods and services have failed in many regards, despite some actions taken by the government to addressing the problems it looks like it is a step forward and two steps backwards, that the Nigerian economy is a developing one as there are some minor breakthroughs recorded overtime, privatization though a very strong solution to addressing the public enterprises failure should not be considered a blanket solution, the government must be deliberate in providing the enabling environment for private companies to thrive.