A Literature Review of Privatization Models, Theoretical Framework for Nigerian Railway Corporation Privatization

Privatization is the transfer of ownership from the state to the private sector. The main idea behind this economic strategy is to relieve government from the saddle of management of state enterprises that can be seen to be best managed by the private sector for maximum performance. The main method and critical choices for the privatization of the Nigerian Railway Corporation are management-buyout, concession, management contract, leases, share option and franchises. In addition, the research paper discusses the main performance indicators, such as effectiveness, efficiency, productivity, infrastructural investment, and profitability. These are the parameters set to measure the performance of privatized state enterprises after privatization discussed in the research study.