Problems and Prospects of Private Sector Organizations in Nigeria

This paper focused on the challenges and prospects of private sector organizations as the main
engines of economic growth and development in Nigeria. It discussed the concepts of organization,
the prospects and challenges of private sector-led growth in Nigeria. The study examined the current
business environment and discussed ways of encouraging the private sector organizations in Nigeria
to act as a catalyst of economic growth and development. The paper posits that to achieve a desired
sustainable private sector led growth of the economy, it is imperative for government to continuously
put in place policies and programs that will encourage private sector participation and contribution to
the development process. Finally it concluded that there is growth in the financial performance of
private sector organizations and its sustained prospects and success hinged on all those series of
initiatives and policies of the government to advances private sector led growth and transform the
country into an economy that is robust, stable, dynamic, export-led and competitive.