Privatization can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised ; in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, water supply, and prison management.
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, infrastructure, public transit, public education, along with health care and those working for the government itself, such as elected officials. The public sector might provide services that a non-payer cannot be excluded from, services which benefit all of society rather than just the individual who uses the service. Public enterprises, or state-owned enterprises, are self-financing commercial enterprises that are under public ownership which provide various private goods and services for sale and usually operate on a commercial basis.
The Power Holding Company of Nigeria (PHCN), formerly the National Electric Power Authority (NEPA), was an organisation governing the use of electricity in Nigeria. During the era when it operated as NEPA, the company managed a football team, NEPA Lagos . It represented Nigeria in the West African Power Pool.
Bharat Aluminium Company Ltd. (BALCO) was an Indian government owned aluminium producer under Ministry of Mines, Government of India. In 2000, the Ministry of Mines, Government of India sold it to Vedanta Resources when Atal Bihari Vajpayee-Bharatiya Janta Party-National Democratic Alliance-led-government was in power. BALCO was incorporated in the year 1965 as a central public sector unit (CPSU) and it was the central government-establishment until 2001, when it was taken over by Vedanta Resources, a company listed on the London Stock Exchange. The government company has been closely associated with the Indian Aluminium Industry, in a pivotal role. Mr. Rajesh Kumar is the current CEO & Whole Time Director of the company.
The Energy Technologies Institute (ETI) was a public-private partnership between global energy and engineering companies and the UK Government that was established in the United Kingdom in 2007. The government set up the ETI following an announcement in the 2006 budget speech. The purpose of the ETI is to “accelerate the development, demonstration and eventual commercial deployment of a focused portfolio of energy technologies, which will increase energy efficiency, reduce greenhouse gas emissions and help achieve energy and climate change goals”. The institute works with a range of academic and commercial bodies.
The National Council on Privatization (NCP) is a think tank sponsored by the Nigerian government to determine the political, economic and social objectives of the privatization and commercialization of Nigeria's public enterprises.
The Nigerian Coal Corporation (NCC) is a Nigerian parastatal corporation responsible for mining and selling coal. It is based in Enugu.
The mining of minerals in Nigeria accounts for only 0.3% of its gross domestic product, due to the influence of its vast oil resources. The domestic mining industry is underdeveloped, leading to Nigeria having to import minerals that it could produce domestically, such as salt or iron ore. The rights to ownership of mineral resources is held by the Federal Government of Nigeria, which grants titles to organizations to explore, mine, and sell mineral resources. Organized mining began in 1903, when the Mineral Survey of the Northern Protectorates was created by the British colonial government. A year later, the Mineral Survey of the Southern Protectorates was founded. By the 1940s, Nigeria was a major producer of tin, columbite, and coal. The discovery of oil in 1956 hurt the mineral extraction industries, as government and industry both began to focus on this new resource. The Nigerian Civil War in the late 1960s led many expatriate mining experts to leave the country. Mining regulation is handled by the Ministry of Solid Minerals Development, who are tasked with the responsibility of overseeing the management of all mineral resources in Nigeria. Mining law is codified in the Federal Minerals and Mining Act of 1999. Historically, Nigeria's mining industry was monopolized by state-owned public corporations. This led to a decline in productivity in almost all mineral industries. The Obasanjo administration began a process of selling off government-owned corporations to private investors in 1999. The Nigerian Mining Industry has picked up since the "Economic Diversification Agenda", from Oil & Gas, to Agriculture, Mining, etc., began in the country.
Shamsuddeen Usman,, is a Nigerian economist, banker, technocrat and public servant. He is currently the CEO of SUSMAN & Associates, an economic, financial and management consulting firm headquartered in Nigeria. He was the Finance Minister of Nigeria between June 2007 and January 2009 and also served as the Minister of National Planning from January 2009 to September 2013. Usman is the Chairman of Citibank Nigeria Limited.
Rilwan Lanre Babalola was appointed Nigerian Minister of Power on 17 December 2008 after a cabinet shuffle by President Umaru Yar'Adua. He left office in March 2010 when Acting President Goodluck Jonathan dissolved his cabinet.
Public sector undertakings in Kerala are of two types, public sector units in which majority shares are owned by Union Government and public sector units in which majority shares are owned by State Government. Public sector undertakings in Kerala, i.e. enterprises in which majority shareholder is Government of Kerala are generally divided into Manufacturing & Non-Manufacturing. Some of the PSUs such as Kinfra, KSIDC, SIDCO etc. are promotional agencies. As of 2004 there were 104 enterprises spread over 14 different sectors of Kerala economy. These sectors are as varied as engineering, electronics to wood products & welfare agencies. Eleven units are joint venture of Kerala government with the central government. Most of state PSUs units are under Department of Industries & Commerce.
Udoma Udo Udoma is a commercial lawyer and founder of the Nigeria law firm Udo Udoma & Belo-Osagie. His career spans law, business and politics, as he served as a senator in the Federal Republic of Nigeria from 1999 to 2007, as a Federal Minister from 2015 to 2019, and on the boards of various corporations in both the private and public sectors.
The Nationalisation process in Pakistan was a policy measure programme in the economic history of Pakistan, made Pakistan's industrialization worse and lifted the trust of businessmen and investors. It first introduced, promulgated and implemented by Zulfikar Ali Bhutto and Pakistan Peoples Party to lay the foundation of socialist economics reforms to improve the growth of national economy of Pakistan. Since the 1950s, the country had undergone a speedy industrialisation and became an industrial paradise in Asia. But, as time progressed, the labour trade unions and labour-working class had increasingly strained relations with the industrial business oligarch class, having neglected to improve working conditions and failing to provide a healthy and safe environment for the workers in these industrial industries.
The Privatisation process in Pakistan is a continuous policy measure program in the economic period of Pakistan. It was first conceived and implemented by the then-people-elected Prime Minister Nawaz Sharif and the Pakistan Muslim League, in an attempt to enable the nationalised industries towards market economy, immediately after the economic collapse of the Soviet Union in 1989–90. The programme was envisaged and visioned to improve the GDP growth of the national economy of Pakistan, and reversal of the nationalisation programme in 1970s— an inverse of the privatisation programme.
Pakistan began a period of economic liberalisation in the 1990s to promote and accelerate economic independence, development, and GDP growth.
The Department of Innovation, Industry, Science and Research, was a department of the Australian Government that existed between December 2007 and December 2011. The Department was charged with further developing growth in Australian industries and advancements in science and research. Ministers with responsibility for the department included Kim Carr, Minister for Innovation, Industry, Science and Research and Nick Sherry, Minister for Small Business.
BTG Limited is an international specialist healthcare company that is developing and commercialising products targeting critical care, cancer and other disorders. The current name was adopted when the British Technology Group changed its name on 27 May 1998. BTG was a constituent of the FTSE 250 Index until it was acquired by Boston Scientific in August 2019.
Reynolds Bekinbo Dagogo-Jack, OFR, popularly known as Beks, is a Nigerian civil engineer, technocrat and public servant. For over thirty years, Dagogo-Jack has been active in both the public and private sector, especially in areas of government/public administration and project management including engineering, construction and manufacturing.
Eyimofe Doyle Atake, is a Nigerian lawyer. He was named a Senior Advocate of Nigeria in 1999.
Nigerian Film Corporation is a government owned agency that regulates Nigerian films. It was established in 1979 under decree number 61 of the 1979 constitution.
