What is privatization and what are some potenti... - SS2 Government Merits and demerits of privatization in Nigeria. Question

What is privatization and what are some potential benefits and demerits of implementing it in Nigeria?

Privatization is the process of transferring ownership or control of a government-owned or state-owned enterprise, asset or service to the private sector. Potential benefits of privatization in Nigeria include increased efficiency, increased investment, improved service quality, and reduced government spending. Potential demerits of privatization in Nigeria include job losses, potential monopolies, corruption, inadequate regulation, and limited public access.

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