Public Enterprises and Socio-Economic Development in Nigeria

Abstract

Public enterprises are organizations which emerged as a result of government acting in the capacity of an entrepreneur. The main motive of public enterprises is ensure effectiveness and efficiency in service delivery towards enhancing social and economic development. However, in spite of this gigantic motive, public enterprises in Nigeria failed to achieve the purpose of their establishment due to certain irregularities. Thus, this paper investigated the extent to which public enterprises attain efficiency in service delivery particularly the PHCN, the factors that led to the character of services rendered as well as whether the services rendered by the enterprise affects income and savings of its customers. To do this, the study used survey method. Convenient sampling method was also used in selecting the 50 respondents who participated in the research. Chi-square statistics was also used in testing the hypotheses. The findings indicated that PHCN does not attain efficiency in service delivery; that mismanagement and improper planning are responsible for the character of services rendered by PHCN; also PHCN moderately affect personal income and savings of customers. It is therefore recommended that control mechanisms need to be put in place, performance criteria need to be applied, right and qualified personnel need to be employed, conducive working condition need to be provided and there should be transparency and accountability in discharging responsibilities. This is with a view to curtail the identified lapsed towards smooth functioning of the enterprise.