The privatization exercise in Nigeria is a move towards a
Answer Details
The privatization exercise in Nigeria is a move towards a market economy. Privatization involves transferring ownership of state-owned enterprises to private individuals or corporations, which promotes competition and free enterprise. A market economy is characterized by private ownership of businesses and minimal government intervention in economic affairs. In a market economy, market forces such as supply and demand determine the prices of goods and services, as well as the allocation of resources.