NATIONALIZATION, PRIVATIZATION AND COMMERCIALIZATION OF BUSINESS

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NATIONALIZATION, PRIVATIZATION AND COMMERCIALIZATION OF BUSINESSES

NATIONALIZATION

This simple means the taking over or acquisition of previously privately owned business enterprises by the government for ownership and control. This was what happened in Nigeria after the Nigerian – Biafra war in the early 1970s. This means that, the formerly private owned primary and secondary schools were acquired from all the private individuals and organizations that originally started and owned them. Such takeovers may be carried out with or without any compensation to those initial owners and nationalization may be partial or total.

TABLE OF CONTENTS

Title page---------i

Dedication ---------ii

Acknowledgment --------iii

Table of contents --------iv

Nationalization 1

Reasons for Nationalization1

Opposition of Nationalization 2

Commercialization 4

Meaning and Definition of Commercialization 5

Objective of Commercialization 6

Implication of Commercialization 7

Privatization

Meaning and Definition of Privatization 10

Objectives of Privatization 11

Implication of Privatization 12

References 14

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NATIONALIZATION, PRIVATIZATION AND COMMERCIALIZATION OF BUSINESS

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