Strategies and impact of agro‐allied parastatals reform in Nigeria
研究了尼日利亚三家农业企业私有化改革的经济、财务和社会影响，发现改革提升了盈利能力和生产率，且未对就业造成负面影响。
Abstract This study examines the reform of agro‐allied parastatals in Nigeria and determine the impact financially, economically and socially. Three enterprises, Flour Mills of Nigeria Limited (FMNL), Okitipupa Oil Palm Company (OOPC) and Nichemtex Industries Limited (NIL), were privatized in Nigeria under a reform programme aimed at improving the performance of agribusinesses in the country. The exercise was successfully conducted through public offer of shares and private placement. The reform led to an improvement in profitability, productivity, financial leverage and liquidity position of the enterprises. The social impact of privatization was also favourable. It has no adverse consequences on job security, level of employment and participation of employees in trade union matters. Successful implementation of the reform was due to several factors including high level of professional competence and dedication of officials connected with the reform, a high degree of transparency and strict compliance with laid down guidelines. At the enterprise level, the positive changes recorded by the enterprises came about through the adoption of a number of coping strategies such as the maintenance of diverse product mix, expansion of export potentials and upgrading of product quality, improved marketing management, technological restructuring and improved techniques of sourcing raw materials. At the macro level, some policy actions such as trade policy reforms and price liberalization also played significant role in enhancing the performance of the enterprises after privatization.