In Nigeria, privatization and commercialization policies were introduced to

In Nigeria, privatization and commercialization policies were introduced to divest the government of major control of commercial ventures. Privatization is the transfer of ownership and control of government-owned enterprises to private individuals or organizations. Commercialization, on the other hand, involves making government-owned enterprises operate on a more commercial and profit-oriented basis. These policies were introduced in Nigeria in the 1980s and 1990s as part of a broader economic reform program aimed at promoting private sector-led growth and reducing the role of government in the economy. The main objective of the privatization and commercialization policies in Nigeria was to improve the efficiency and effectiveness of government-owned enterprises, reduce their reliance on government funding, and encourage private sector investment in the economy. This was expected to lead to increased economic growth and development, as well as create more job opportunities for the citizens. By divesting the government of major control of commercial ventures, the policies aimed to reduce government interference and improve the competitiveness of the private sector. This, in turn, was expected to improve the overall economic performance of the country and reduce the burden on government resources. Therefore, the correct option is that these policies were introduced to divest government major control of commercial ventures. The other options, hand over the control of commercial ventures to citizens, increase the asset base of government, and allow government control of the private sector, are not the main objectives of privatization and commercialization policies in Nigeria.