Answer to Question #284581 in Political Science for Happy

Question

Analyze the Nigeria indigenization decree

Answer 1

The Nigerian Indigenization Decree was established in the year 1972 and was a move by the Federal Government of Nigeria to end the perceived foreign domination of the economy and increase indigenous control of strategic sectors of the economy.

The Nigerian Indigenization Policy was a government inventiveness that meant to recover control of several vital and productive sectors of the economy from alien control. The Policy required the foreign owners affected to put up these firms for achievement by the indigenes, hence the name indigenization.

The decree was circulated in February 1972 and was revised in 1977, renamed as the Nigerian Enterprises Promotion Decree.