JAMB - Commerce (2023 - No. 23)
The process of converting a non-profit making organisation to a profit-making business is
commercialisation
deregulation
indigenisation
privatisation
Explication
Privatization occurs when a government-owned business, operation, or property becomes owned by a private, non-government party. Privatization may also describe a transition that takes a company from being publicly traded to becoming privately held.