The main objective of nationalization of industries is to

JAMB Commerce 2024 130 views
Source: JAMB · 2024

The main objective of nationalization of industries is to

  1. bring an Industry under state ownership and control ✓
  2. Make more profit for the government
  3. prevent all aliens from taking part in the business activities of a country
  4. prevent existing firms from liquidation
Explanation

Nationalization transfers private businesses to government ownership. The state takes control.

The goal is public control of important industries, not necessarily profit.

Indigenization keeps businesses Nigerian-owned. Nationalization makes them government-owned.

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