Neoliberal Reforms in an Emerging Democracy: The Case of the Privatization of Public Enterprises in Nigeria, 1999-2014

This article critically appraises the political, social, and economic processes of privatization in Nigeria since 1999. A qualitative analysis of the privatization process and outcomes is carried out within the broader state versus market debate in political economy of reforms. It will be revealed that privatization has not produced its purported outcomes of efficiency/consumer satisfaction and social equity, and the privatization process has not been thoroughly transparent and accountable. In explaining the outcomes and process, the article highlights the problems posed for reforms by the weak democratic infrastructure and institutional framework for regulation; the logic of neoliberal ideology, which constrains the space of action for developing countries or forces these countries to act along specific trajectories instead of others in order to be seen as embracing globalization; and above all, the political constraints relating to the opportunistic and self-interested attitude of political and economic elites who are determined to continue to benefit from privatization as they did during the pre-reform era of public enterprises.