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FINANCING OF GOVERNMENT PARASTATALS
FINANCING OF GOVERNMENT PARASTATALS (A CASE STUDY OF POWER
HOLDINGS PLC)
1.0
INTRODUCTION
1.1 BACKGROUND INFORMATION
It is an
acknowledged fact that in a developing economy, government is always seen as
the prime mover of the economy and this situation will remain so far a very
long time to come in developing countries.
According to Jaivaharial Wehru of India, the trend of events is to make
the state more and more the organizer of constructive industry and not the
private capitalist or any other person.
The services provided by public utilities are essential for
economic growth and development.
It is obvious that no government can progress very fast
without the requisite “social overhead” so called by economic growth theorists.
Basically, the three types of social overhead capital
necessary for economic growth which are of great interest to this writer are:
(a)
Effective transportation
(b)
Flexible and reliable power source
(c) Good
communication
These three types of social over head capital are necessary
conditions for economic growth the type of economic system not withstanding.
Utility services are just as important in socialist system as
in capitalist state. They are mandatory
for a developed nation, under developed nation or emerging or developing nation
and equally essential for a geographical region, state or city.
The third factor which is mandatory for economic growth and
development is the flexible and power source.
Every economic production depends solely on reliable power and unless
this is available, it is impossible to plan and execute production and
marketing process. It is also important
for the power sources to be flexible. It
is only possible to change the production process in response to market forces
when energy can be added to or subtracted from as needed and flexibility of
power may also be used in free production from a fixed location.
Flexibility makes it possible for market demand to utilize
competing sources of supply and to be from location factors.
Without flexibility, mass production of products in factories
would not be possible and there would be no need for dichotomy between
industrial and non-industrial countries of the world. Without electricity man would be in darkness
total darkness, incontinent darkness.
It therefore goes without saying that in every country, there
is a body charged with the responsibility of generating and distributing energy
electricity. In Nigeria, the body
charged with the sole responsibility of generating and supplying or
distributing electricity to the consumers is the National Electric Power
Authority (NEPA).
NEPA has in recent times meant so many things to different
people in Nigeria. To some it connotes
all elements of negativism while to others at connotes a stinking some that
requires urgent surgical operation to enable it survive.
With all these negative attributes to NEPA, whose fault is
it? Is it NEPA’s fault or that of
society? Or could there be something
latent about NEPA’s incessant failures that earned it the name “Never Expect
Power Always”?
These are questions that cry for answer and unless their
answers are provided, this research work may not be complete.
1.2
STATEMENT OF THE PROBLEM
Many factors contribute to the problems militating against
government parastatals one of the major factors militating against government
parastatals is mismanagement of subventions from government by the managers of
such government parastatals. Most of the
managers in government parastatal are employed or appointed based purely on
political consideration and on potential and capability. For instance a person that has no knowledge
of management might be appointed to manage government parastatal because of
political alignment and what do you expect him to do, non performance and
abysmal failure. Another factor is that
attitude of government officials towards government work. Some government officials in the parastatals
see government work as an opportunity to cut the national cake and thereby
fraudulently enrich themselves to the detriment of the parastatals.
Again, the rigidity of the policies of government parastatals
reduces their level of efficiency and effectiveness and creates room for
bureaucracy, nepotism, bribery and corruption among the workers of government
parastatals.
The above factors no doubt lead to problem of inefficiency in
the management of government
parastatals.
1.3
OBJECTIVES OF THE STUDY
The author has designed this research work with the following
objectives in mind:
(i) To
study and analyze the various sources and nature of finance available to NEPA
as a government parastatals.
(ii)
Analyze the factors that enhance or inhibit the spread of NEPA services
throughout Nigeria including rural areas.
(iii) To find
out the reasons for lack of devotion and commitment to wards work by staff
(iv) To find
out the reasons for poor response of consumers in paying their electricity
bill.
1.4 RESEARCH
QUESTION
What are the various sources of fund available in the
parastatals and his adequacy?
What policies guide the employment of staff training and
orientation in government parastatals?
What are the various devices used by government parastatals
to monitor the activities of their staff and the measure of punishment meant to
them?
Are the staff of parastatals given enough incentives to
motivate them for maximum output?
How efficient and effective are government parastatals in
decision and policy functions?
1.5 HYPOTHESIS
Ho: The financing of
government parastatal has led to the effective and efficiency in the employment
of staff.
Hi: The financing
of government parastatal has not led to the effective and efficiency in the
employment of staff.
Ho: The financing of
government parastatal has reduced the burden of work on the individual workers.
Hi: The financing
of government parastatal has not reduced the burden of work on the individual
workers
1.6
LIMITATIONS AND DELIMITATIONS
It was a very difficult task to gather the materials sued for
this research work. It took extra effort
to source both primary and secondary source of material relevant to this
research work. As can be seen, most of
the material were got from secondary data consisting mainly of materials from
NEPA’s publications, textbook, and magazine while primary sources was based on
oral interviews.
1.7 CHAPTER
ORGANISATION
This research work has been arranged unite and organized into
five chapters for ease of reference.
Chapter one introduces the reader to what the research work is all about
with subdivisions as follows:
Problems identification, statement of the objectives of the
paper, formulated hypothesis of the study and limitations and delimitations.
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