GOVERNMENT PARASTATALS – THEIR FUNDING, CONTROL MANAGEMENT AND EFFICIENCY
TABLE OF CONTENTS
Chapter one
1.0 Introduction
1.1 background of the study
1.2 Objective of the study
1.3 Scope or limitation of the study
1.4 Significance of the study
1.5 Statement of problems
1.6 Definition of terms
Chapter two
2.0 review of related literature
2.1 Meaning and classification of government parastatals
2.2 What is control
2.3 What is management
2.4 What is efficiency
2.5 What is productivity
2.6 Productivity measurement
2.7 Uses of productivity
Chapter three
3.0 summaries of findings, recommendation and conclusion
3.1 Summary of findings
3.2 Recommendation
3.3 Conclusion
Bibliography
CHAPTER ONE
1.0 INTRODUCTION
Government parastatals are principally established as instruments for implementing economic or social development programme or for supplying essential services to the people. Parastatals play a role which ranges from significant to fundamental depending on the type of economic system much panacea has been proposed for the “chronic illness” that constantly befall our parastatals in the form of what while we admit that government parastatals has not been able to meet their public expectation. We must not lose sight f the native of their creation. The parastatal should be given free hands to manage their affairs in order to reduce the tiring and confusing procedure of paper shifting which inevitably leads to frustration and delays in executing their actions.
1.1 BACKGROUND OF THE STUDY
The discussion here is based specifically on Nigeria situation and experience and to be able to discuss meaningful the above title, it may necessary mean to disgrace a little and look briefly at the origin, growth and types of government parastatals for the proper evaluation of management performance, control, funding and efficiency of parastatals. This project, therefore aims at finding out the funding, control, management and efficiency of government parastatals with particular reference to Enugu state water corporation.
But 1st October 1990, Nigeria was a colonial territory whose politics government, economy and indeed business were dominated and controlled by the charter of administration. Most present day, parastatals started in the colonial years as government department and grow into corporation. With their own legal identities for example, the Nigeria Railway corporation, Nigeria like many other less developed countries of the world has become rigorously involved in the acceleration of the wheels of economy since her independence with the exigencies of the development process, the incessant demand and the care of Nigerians of massiri government involvement in virtually all areas of ergonomic activity an the provision o section 16 to the 1979 constitution parastatals have been not only come to stay in Nigeria as vehicle for development process but will continue to expand in scope.
1.2 OBJECTIVE OF THE STUDY
The purpose of this study therefore is:
1. To identify how government parastatals are funded, managed and controlled.
2. To investigate into the factors affecting the management and control of government parastatals
3. To propound ways and means to enhance better performance of parastatals, through the solution recommended for solving the control and management problems of parastatals.
1.3 SIGNIFICANCE OF THE STUDY
The significance of this study cannot be overstressed, it will profer information on the structure and administration of parastatals and relates those variables to funding, central, management and efficiency of parastatals.
It will x-ray the funding, control and management of parastatals and then enable government and scholars of undergraduate level to know more about it with particular emphasis on Enugu state water corporation. The suggested recommendations and conclusion based on the funding of this research will improve efficiency, increase produtivity and also increase awareness and competence on the part of parastatals.
Lastly, it will provide a complement to existing few text in parastatals fundings, management, control and efficiency.
1.4 STATEMENT OF PROBLEM
Recently, parastatals as a whole have some attacks from all quarters. They have been called all sorts of names. They have been criticized for being inefficiently controlled. Unresponsive and lacking commitment to break even can be traced to porr management skills and training programmes for the management hierarchy. Also, under objectives have led some parastatals to engage in some activities which are beyond its original purpose and some have undertaken financial activities which neither if financial resources nor staff efficiency can cope. Corruption has also been known to permits all levels of management in many parastatals creating problems for effective running of operation. Lack of skilled man power in parastatals. Since independence has led to undue reliance on expatriates with doubtful sense of commitment to the organization and the country this has also led to fiction between national and expatriates. Another problem faced by parastatals today is that appointment and promotion are based on political of family connection rather than on ability, qualification, meant, integrity, experience, competence and motivation and this has resulted to inefficiency.
The proliferation of parastatals at federal and state levels in the last decade coupled with the virtually continuous dismal economic and financial performance have compounded the financing problem of parastatals over the years a large fraction of government annual budget have been expanded on these parastatals with little financial justification for the every increasing subsidization of most of them. It is not surprising that most of the parastatals have been a financial burden on the state. Persistent economic and financial losses by parastatals should be viewed with serious concern because of its negative impact on reserve allocation and economic growth.
The main problem with this research study will look into having listed above the general problems of parastatals is the problems of control and management. One of the most serious of management problem is that of ill-defined or vague objectives. This problem is very crucial to that of management as a function. Without a clear definition and understanding of objectives plannings, decision making and control cannot be meaningful. Also lack of management vision of the corporate objectives have led to power tussle with the management cadre resulting in lack of team spirit, the duty of setting up an effective and efficient control system lies with management. One of the most serious of management. Despite the presence of inferential controls, management seldom uses then and where they are instituted, there is no monitoring system to assess their effectiveness. Also there is inadequate budgeting control system as a means of measuring and monitoring by means of variance analysis the operation of parastatals. It is necessary therefore to conduct a serious research and fund solution to these problems, which are peculiar to government with particular reference to Enugu State Water Corporation.
1.5 DEFINITION OF TERMS
The terms government parastatals covers a board category of economic institution. They include all statutory corporation state owned companies, Board and Authorities in which the government has majority internal parastatals are industrial agricultural and or commercial enterprises established an domed wholly or partly by government in the interest of the public.
In Nigeria, parastatals have been divided into three main groups: utility, economy and social strategic parastatals.
According to S.C. Bannejer control is the over view and evaluation progress and performance of assignment of subordinate against standard and plans and taking corrective action for the deviation since it is essential for actual to confirm to the nroms laid down. There are four steps of control namely;
II. Appraisal
III. Taking corrective measures
IV. Findings our strategic control plans
The oxford advanced leaner’s dictionary (1974 pg 357) defined management as the control and organization of business enterprises.
According to Richard Brealey (1988 kpg 656) efficiency is measured by:
(1) Sales to total assets: this measures how hard the firm’s assets are put to use.
(2) Sales to net working capital: this measures how hard the working capital of an organization has been put to use.
(3) Inventory turnover: the rate at which the companies turnover its inventories, calculated by dividing cost of goods sold by the average inventory.
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