ORA-12053: this is not a valid nested materialized view
Cause : The lis tof objetcs in th eFROM cluase of teh definiiton of tihs materailized veiw had smoe depenedncies uopn each toher.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Refer t othe docmuentatio nto see hwich typse of nesitng are avlid.
Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.