This policy offers Nigerian indigenes more participation in the ownership, management and control of industrial and commercial activities of the country’s productive sectors/enterprises. The decree was promulgated in 1972 and was amended in 1977. The decree provides for at least 40 – 60% Nigerian participation in all productive enterprises of the economy.
OBJECTIVES OF INDIGENIZATION
(a)It is aimed at fostering a widespread ownership, management and control of productive enterprises among Nigerians.
(b)To promote and develop the Nigerian capital market to
(c) Promote foreign exchange conservation.
(d)To retain the spending of profits realized in Nigeria.
(e)To promote business expansion through plough back of profits realized.
PROBLEMS OF INDIGENIZATION POLICY
- Inadequate supply of skilled manpower
- Insufficient provision of capital.
- The problem of wide income gap between the rich and the poor.
- Lack of industrial technical knowledge.