Nigerian indigenization decree was promulgated in order to

JAMB Economics 2023 373 views
Source: JAMB · 2023

Nigerian indigenization decree was promulgated in order to

  1. allow indigenes to have the full participation in the economic activities of the country ✓
  2. drive away foreigners
  3. give equal chances to indigenes and foreigners in making economic decisions in the country
  4. give industrial training to indigenes
Explanation

The Indigenization Decree (1972, widened in 1977) reserved many businesses for Nigerians. Foreigners had to sell shares to Nigerians.

Its aim was to let Nigerians take full part in the nation’s economic activities. It was not meant to drive foreigners away.

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