Which of the following is an objective of indigenization policy?

Which of the following is an objective of indigenization policy?

Put simply, the indigenization policy is defined as ‘the roping off of certain types of business activities and reserving these for exclusive ownership and control by Nigerians…” The objective of the policy was therefore to set the stage for greater participation by Nigerian nationals in the ownership, management.

What is indigenization policy?

It is a set of regulations meant to regulate businesses, compelling foreign-owned firms to sell 51-percent of their business to blacks over the following years. Five-year jail terms are assigned to foreigners who do not submit an indigenisation plan or use locals as fronts for their businesses.

What was the aim of the indigenization policy and decree of the 1972?

The Nigerian Enterprises Promotion Decree or NEPD 1972 as amended in 1977 was meant to effect changes in the ownership structure of businesses in Nigeria and to provide opportunity for indigenous capital to have assertive control of the economy.

What are the advantages of indigenization policy in Nigeria?

Advantages of Indigenization It ensures indigenous participation as greater member of the indigenes participate in running of the business in the country. It ensures self reliance: It affords Nigeria the opportunity for self reliance and economic emancipation. Industrial potentials will be fully utilized.

What are the advantages and disadvantages of indigenization policy in Nigeria?

The main advantage of indigenization is that it creates opportunities for development of industries which in turn creates employment opportunities of the people. On the other hand the disadvantage is that is discourages any foreign investments on the country.

What is the importance of indigenization?

Indigenization also contributes to a more just world, creating a shared understanding that opens the way toward reconciliation between Indigenous and non-Indigenous people. It also counters the impacts of colonization by upending a system of thinking that has typically discounted Indigenous knowledge and history.

What is the meaning of indigenization in economics?

Indigenization can be defined as the transfer of ownership and control of business enterprises from foreigners to the indigenes.

What is the difference between indigenization and nationalization?

Nationalization transfers ownership to the government notwithstanding whether the business was owned by local people or foreigners while indigenization transfers ownership of the foreign business to private citizens of the country.

What are the advantages of indigenization policy?

Who suggested three types of indigenization?

In his article, “Indigenization and Transnational Co-operation in the Social Sciences”, Krishna Kumar (1979: 104-5) differentiates between three types of indigenization: structural, substantive and theoretical.

What is the difference between localization and indigenization?

is that localization is the act of localizing while indigenization is the fact of making something more native; transformation of some service, idea etc to suit a local culture, especially through the use of more indigenous people in administration, employment etc.

What does curriculum indigenization mean how is it done?

Indigenization is the process by which Indigenous ways of knowing, being, doing and relating are incorporated into educational, organizational, cultural and social structures.