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AN EXAMINATION OF MONETIZATION INITIATIVE AS A PREDICTOR OF CIVIL SERVANTS’ PRODUCTIVITY IN GOVERNMENT PARASTATAL

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AN EXAMINATION OF MONETIZATION INITIATIVE AS A PREDICTOR OF CIVIL SERVANTS’ PRODUCTIVITY IN GOVERNMENT PARASTATAL

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Government parastatal is an organization established and held by the government with the purpose of carrying out particular tasks or rendering particular services on the government's behalf. It is sometimes referred to as a government agency, statutory corporation, or state-owned company (SOE). Parastatals frequently work in industries including telecommunications, energy, healthcare, and education. However, the degree of autonomy possessed by these entities from the government  varies based on their individual mandate and jurisdiction. Despite being government owned, they frequently have their own management structures and decision-making procedures, allowing them to function somewhat independently. The government usually provides funding for government parastatal through budgetary allotments or earnings from their activities. In order to maintain efficiency, openness, and compliance with the law, they frequently come under the scrutiny of legislative or regulatory organizations and are answerable to the government. Furthermore, in numerous nations, including Nigeria, endeavors have been undertaken to improve the efficiency and efficacy of governmental functions. One such measure is the adoption of monetization policies. Monetization denotes the transformation of non-monetary perks or services into monetary equivalents. This includes offering allowances, bonuses, or alternative forms of financial recompense instead of conventional non-monetary perks like housing, transportation, or healthcare. Similarly, the term "monetization policy" in the context of government parastatal refers to the strategy employed by governments to convert the assets or operations of these entities into sources of revenue or financial value (Iyanda and Jolaso, 2019). The monetization policy in Nigeria was initially introduced by Tukur Mamman, the Chairman of the revenue mobilization, allocation, and fiscal Commission, during an interview with the Daily Champion newspaper on September 17, 2003. According Kwal (2021), the policy was initially only applied to political office-holders. However, it was later expanded to include civil servants and eventually include all public servants in the government parastatal. On November 11, 2002, the then President of the Federal Republic of Nigeria, Chief Olusegun Obasanjo, announced the formation of a committee chaired by the Secretary to the Federal Government at that time, Chief U.J. This committee was tasked with recommending the various components of the monetization policy. The Monetisation Policy, also known as the "Monetisation of Fringe Benefits," was implemented through the passage of the Political and Judicial Office Holders Act 2002 in Nigeria. This act served as the basis for converting the allowances of all categories of Federal Public Servants from in-kind benefits to cash, as mandated by the Salary and Wages Commission. Under this policy, government-owned assets such as houses, cars, and furniture used by bureaucrats and political office holders were converted into personal property through systematic cash payments. On the other hand, (Osuji & Oghenetega, 2021) argued that monetization would promote private initiative, stimulate creativity and motivation, foster a positive work attitude, and ultimately enhance the quality of service delivery and performance among civil servants in government parastatal. Additionally, it was believed that the policy would incentivize civil servants to increase their efforts, leading to improved overall performance in the civil service. The success of any organization, whether public or private, is commonly measured by its productivity. Productivity is recognized as a crucial factor in national development and the improvement of citizens' welfare. Enhancing productivity is seen as a fundamental means of addressing economic challenges globally. Thus, regardless of status, organizational context, or national economy, productivity holds significant importance for workers. Additionally, the wealth and socio-economic well-being of a nation are intricately linked to the effectiveness and efficiency of its various components, which, in turn, rely on productivity. Motivational measures within organizations play a crucial role in shaping employees' skills, motivation, and commitment, thereby influencing their attitude towards work and productivity (Lock, 2018). Labor, being dynamic and serving as a catalyst for wealth creation, is essential alongside other resources like capital and material resources. Despite the abundant resources in many developing countries, particularly Nigeria,  government paratatals employees in these nations are often less productive compared to their counterparts in developed countries (Ikeoluwap, 2019). The government sector, which should drive development, innovation, and progress, sometimes falls short due to inefficiencies, lack of creativity, and the presence of corrupt and unpatriotic elements. Therefore, a survey will be conducted to examine monetization initiative as a predictor of civil servants’ productivity in government parastatal.

1.2 Statement of the Problem

In many countries, including Nigeria, efforts have been made to enhance the efficiency and effectiveness of government operations. One such initiative is the implementation of monetization policies. Monetization refers to the process of converting non-monetary benefits or services into financial equivalents. This  involve the provision of allowances, incentives, or other forms of monetary compensation in lieu of traditional non-monetary benefits such as housing, transportation, or healthcare. Furthermore, the rationale behind monetization initiatives is often to streamline government expenditure, improve transparency, and incentivize productivity among civil servants in government parastatal. By converting non-monetary benefits into cash payments, governments aim to empower employees with greater financial flexibility while also potentially reducing the administrative burden associated with managing non-monetary benefits.

However, the impact of monetization initiatives on the productivity of civil servants within government parastatal remains a topic of debate and empirical investigation. While proponents argue that monetization can lead to increased motivation and productivity among employees, critics raise concerns about potential negative consequences such as reduced job satisfaction, moral hazards, and unintended distortions in behavior (Iyayi, 2020).

Additionally, previous research in this area has yielded mixed findings, with some studies suggesting a positive relationship between monetization and productivity, while others have found little to no significant impact. Factors such as organizational culture, leadership style, employee attitudes, and the design of monetization policies have been found to all influence the outcomes of such initiatives. It is in the light of these that the study seeks to examine monetization initiative as a predictor of civil servants’ productivity in government parastatal.

1.3 Objectives of the Study

The main purpose of this study is to examine monetization initiative as a predictor of civil servants’ productivity in government parastatal. Specifically, the study will;

Evaluate the effectiveness of monetization initiative in Government parastatal.

Investigate whether there is a significant correlation between monetization initiative and civil servants’ productivity in Government parastatal.

Investigate  impact of  monetization initiative on civil servants’ productivity in Government parastatal.

1.4 Research Questions

The following questions have been prepared for the study:

How effective has the monetization initiative been in Government parastatal?

Is there a significant correlation between the monetization initiative and the productivity of civil servants in government parastatal?

What is the impact of the monetization initiative on civil servants' productivity in government parastatal?

1.5 Research Hypotheses

Ho: There is no significant relationship between monetization initiatives and  civil servants’ productivity in government parastatal.

Ha: There is a significant relationship between monetization initiatives and  civil servants’ productivity in government parastatal.

1.6 Significance of the Study

The study will give the government insight into how to appropriately comprehend monetization and select the most effective implementation plan to offer the most monetization policy for all Nigerians, not only those employed in the public sector. The findings will demonstrate that the advantages of monetization are in no way equivalent to the expenses related to satisfying the socioeconomic expectations of civil servants in government parastatal. Additionally, it will encourage them to work hard and with a positive attitude. 

Furthermore, other students who may decide to conduct studies in this area will have the opportunity to use this study as available literature that can be subjected to critical review. Invariably, the result of the study contributes immensely to the body of academic knowledge with regard to examine monetization initiative as a predictor of civil servants’ productivity in government parastatal.

1.7 Scope of the study

The scope of this study is boarded on monetization initiative as a predictor of civil servants’ productivity in government parastatal. Empirically, this study will evaluate the effectiveness of monetization initiative in government parastatal, investigate whether there is a significant correlation between monetization initiative and civil servants’ productivity in government parastatal and investigate  impact of  monetization initiative on civil servants’ productivity in government parastatal.

Geographically, the study will be delimited to staff in the Nigerian civil service, Lagos state, Nigeria. 

1.8 Limitation of the study

In the course of carrying out this study, the researcher experienced some constraints, which included time constraints, financial constraints, language barriers, and the attitude of the respondents. In addition, there was the element of researcher bias. Here, the researcher possessed some biases that may have been reflected in the way the data was collected, the type of people interviewed or sampled, and how the data gathered was interpreted thereafter. The potential for all this to influence the findings and conclusions could not be downplayed. 

More so, the findings of this study are limited to the sample population in the study area, hence they may not be suitable for use in comparison to other schools, local governments, states, and other countries in the world.

1.9 Definition of Terms

Monetization Policy: is a working document of the federal government of Nigeria which spells out the procedure and manner through which the fringe benefits given to civil /public servants in Nigeria are converted into cash payments (Bakare,2020).

Productivity: is often a measure of how efficiently an employee is able to convert their time and effort into quality work. 

Civil servants: employees working in government parastatal.


This material content is developed to serve as a GUIDE for students to conduct academic research



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