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JAMB Economics 1992 Question 24

Question 24

Business Organisations

The main reason for the current programme of privatization and commercialization of public enterprises in Nigeria is to

  1. A.reduce public expenditure
  2. B.encourage efficiency in the performance of such enterprises
  3. C.reduce the number of public enterprises
  4. D.raise the prices of goods and services produced by the enterprises
Show the answer and explanation

Answer: B (encourage efficiency in the performance of such enterprises)

Explanation

Public enterprises were inefficient and loss-making; selling them or running them commercially is meant to make them efficient.