The Changing Role Of Public Enterprises In A Deregulated Economy: The Study Of Nigerian Ports Authority

Abstract

The issues of economic reforms, deregulation, 1 iberal isation or economic

adjustment programme began in the early 80s, particularly i n the Afr i can

c o n t i nent. Even though the terms are used synonymously, there are d iffe r i ng

e m phasis and applications i n government pol icies, jou r nalistic and economic

parlance. Whatever the case may be, the application of these terms began w ith

the ac.loption, at least i n the Afric::in co11ti11e11t, or the Economic Structural

Adjustme nt Programme (ESAP) popu l arly referred to as SAP.

The p rogramme is a package of economic pol i cy i ntroduced i n the early

80s as part o f the Bretten Woods i nstitutions1, and new World Economic.

Orclcr2 . Bretten Woods is a tow n i n the United States , where dec i s ions were

taken to establish the World Bank and the International Monetary Fund. The

two i nstitutions are often referred to as the Bretten Woods i nstitutions . The

economic order was to be implemented by the three most powerful i nstitutions

of the Bretten Woods, espec i a l l y the International Monetary Fund (IMF); the

International Bank for Reconstruction and Development (JBRD) or s i m p l y the

World Bank; and the General Agreement on Trade and Tariffs (GATT) now the

'Norld Trade Organisation (WTO) . The first two were to be i mp lemented in

respect of member countries of the two Organisations seeking assistance to

f'i nancc the i r budget defi c i ts or development programmes

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