Concept:Privatization transfers state-owned businesses to private hands, mainly to improve efficiency and maximize profit.
Explanation:Private owners often cut costs to increase profit.
In Nigeria, one common cost-cutting measure is reducing the number of workers.
This led to many workers losing their jobs.
Thus, a major consequence of privatization in Nigeria is mass retrenchment of labour.
The other options do not directly describe this usual outcome.
Answer:D. mass retrenchment of labour.