A Conceptual Study Of Privatization Of Public Enterprises And Industrial Relations Practice In A Mixed Recessional Economy

Abstract

This paper examines the effect of privatization of public enterprises on industrial relations practice in a mixed recessional economy.  This is with a view to ascertaining the economic effect of privatization on labour–management relations in Nigeria.  The qualitative approach was adopted for this study.  The paper submits that privatized public enterprises in a recessional economy does not create enabling environment for harmonious labour–management relations.  Also, it is established that though privatization policy implementation enhances efficiency and improved workers’ performance, however, retrenchment and job insecurity of the workers are always the resultant effects of any privatized public enterprises.  Therefore, it is recommended that privatization policy implementation should be normally be designed to guarantee workers’ job security, while pragmatic efforts towards sustaining the level of efficiency and productivity attained by the privatized public enterprises should always be given a priority.