International Journal of Social Research and Development

authors
Chinnah Promise Chinwe

abstract
The study examined the monetization policy under President Olusegun Obansanjo Administration its meaning, objectives, implementation and challenges. To reduce waist and enhance efficiency and effectiveness in service delivery for optimal benefit of government and workers through enhance pay package as a motivating factor gave rise to the monetization policy. The study adopted Elite theory and Frederick Taylor theories on scientific management principle were used as the theoretical framework for the study. The researcher made use of secondary data as data were collected from documented literature. These data were analyzed synthesized objectively. The expected benefits of the policy became a mirage as only few top cabal benefited, leaving the bulk majority civil and public servants in illusion and misery. Reason was that the policy was ill formulated and hastily implemented, paucity of funds and corruptions. The study made recommendations on how the policy can achieve its set gal, which includes sensitization and reorientation, revocation of all property sold at laughable prices and general overhauling and review of the policy.