IRENE AIREN AIGBE

Concession has been acknowledged as a valuable tool for Nigeria authority to retain control and shape the supply side of the terminal market, in the absence of full privatization. A Concession is a practice which involves an agreement or a compromise where one side usually a public authority grants a franchisee the right to own, build, finance, upgrade, maintain or operate a public infrastructure, and charge users for the cost of services for a limited period of time under a contractual agreement. This study explores the impact of concessioning on the Nigerian economy, focusing on key sectors such as transport, power, and ports. It highlights how concessioning has led to improved service delivery, increased private sector investment, and job creation. However, a further investigation into the study examines the unintended consequences (otherwise known as the dark side) of privatization of Public Enterprise (PEs) in Nigeria, such as: unemployment due to mass retrenchment of staff, low standard of living resulting from exorbitant price of products and /or service from privatized enterprises, overconcentration of income and wealth in a few hands, regulatory inconsistencies, weak institutional frameworks,
stakeholder resistance, corrupt practices among others. The findings suggest that when
effectively implemented, concessioning can significantly enhance infrastructure development and stimulate economic activity, however, policy makers in Nigeria are to determine the level of confidence they would place in privatization. Policy recommendations include strengthening regulatory oversight as relate to concession, ensuring transparency in the concession process, and enhancing stakeholder engagement to maximize the socio-economic benefits of concessioning in Nigeria