They privatised to oligarchs. This has always been the case in Nigeria. Anytime they privatise a government operation, they sell it to political friends who don't understand the business and view it as a get rich quick scheme.
Many Nigerian sectors require investment, but rentier politicians and oligarchs keep telling us that higher fees lead to better performance. But logic states that if they can charge higher fees without improving performance, where does the incentive to improve come from?
Hello - super insightful piece as always. Small typo, I believe AT&C should be ATC&C.
Yes, correct. Thank you, will update now
They privatised to oligarchs. This has always been the case in Nigeria. Anytime they privatise a government operation, they sell it to political friends who don't understand the business and view it as a get rich quick scheme.
Many Nigerian sectors require investment, but rentier politicians and oligarchs keep telling us that higher fees lead to better performance. But logic states that if they can charge higher fees without improving performance, where does the incentive to improve come from?