Indigenization policy is a deliberate government policy aimed at replacing foreign investors and personnel in certain industries with indigenes. Simply put, the Nigerian Indigenisation Policy was a government initiative that aimed to recover control of several vital and productive sectors of. basic objective of its foreign investment policy since the end of the civil war in Nigeria’s indigenisation programme provides an illustration of the extent to which .
|Published (Last):||19 October 2016|
|PDF File Size:||12.35 Mb|
|ePub File Size:||13.18 Mb|
|Price:||Free* [*Free Regsitration Required]|
This article is also available for rental through DeepDyve. Sign In or Create an Account. The government lost much money in tax revenue as many indigenized firms fared worse under indigenous control, resulting in declining foreign exchange. PR, advertising, pool, haulage of goods by road, block and brick making, bakeries, laundry, cinema, nigefia publishing and printing.
NIGERIAN INDIGENIZATION POLICY: NATIONALISM OR PRAGMATISM? | African Affairs | Oxford Academic
Here we publish several helpful articles in various categories, such as how-to articles, where to find things, resources, business, interviews and reviews. Following decolonization, aspirations of economic independence and self-determination became pronounced and began to earn broad base support.
Released in Aprilthe Huawei P8 sports an iPhone-like design with its aluminium unibody. The author may or may not have a financial interest in any company or advertiser referenced. The authoritarian origins of well-organized opposition parties: The ideas expressed on this site are solely the opinions of the author s and do not necessarily represent the opinions of anyone else.
Most users should sign in with their email address. The Indigenisation Policy was launched inbarely twelve years from independence, at a time when the bulk of the Nigerian labour market consisted mainly of unskilled and semi-skilled manpower, and agriculture was the main economic activity. Businesses where divided into three schedules. Considering that the firms affected by the indigenisation policy had been major players in the Nigerian economy, the massive scale of capital outflow affected the economy adversely, resulting in widespread unemployment and the collapsing of several viable sectors of the economy.
Financial Times, 29 Aug. Sign in via your Institution Sign in. The Nigerian Enterprises Promotion Decree or NEPC as amended in 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.
A new bank, the Nigerian bank of Commerce and Industry came into existence to facilitate loans to Nigerians for the purpose of investing in foreign owned firms.
5 Problems of Indigenisation in Nigeria and 3 Possible Solutions
The team comprises professionals and Consultants from different fields of human endeavour. Prior tocriticism of the existing law led to a couple of amendments but the most significant was in However, it is still Cameroon, Nigeria, and Kenya. It is also aimed at saving foreign exchange by eliminating the opportunity of foreign personnel to repatriate incomes to their home countries. The Nigerian Indigenisation Decree was established in the year 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.
As such, the business concerns that had been retrieved from foreign investors and capitalists, were most often than not left dormant, owing to an absence of the indigenous managerial and technical know-how required for a smooth continuity of the production process.
Critics had felt the changes created a new bourgeois that purchased majority of the shares. And boasts of a range of amazing specs. Get more stuff Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Yet, as promising as the Nigerian Indigenisation Policy is — brilliant in concept, and unique in its implementation — the basic masterplan is not progressing never progressed as desired. Read more… Terms or Use.
Nigerian Enterprises Promotion Decree – Wikipedia
Although the aim of indigenisation is to better the lots of the citizens, the governments of the foreigners affected may seek to revenge what it sees as an injustice against her citizens.
Subscribe to our mailing list and get interesting stuff and updates to your email inbox. As soon as the indigenisation decree was launched, several cunning foreigners who were about being dispossessed of their businesses devised a clever strategy that would enable them to appear to have relinquished control, but in reality, they would still manage their businesses through the agency of their indigenous associates. If you need a personal assistance on this topic, kindly contact us.
Your email address will not be published. Our aim is to provide daily living guide for Nigerians and her friends.
Problems and Prospects of Identity Management in Nigeria. The industries affected include chemical manufacture, cement manufacture, etc. Email alerts New issue alert. If you originally registered with a username please use that to sign in. Page maintained by Ifiokobong Ibanga.
Status competition in Africa: With the capital provided by the foreigners, their Nigerian colleagues would acquire their businesses and would, according to government regulations, continue normal business operations without attracting suspicion.
This category disclosed twenty-two sectors where foreign interest was to be completely stopped. The content on the InfoGuide Nigeria is provided as general information only. This is different from nationalization which means taking over the ownership kn an organization.
Sign In Forgot password? The Nigerian government identified the problems and challenges that were opposed to a full implementation of the Indigenisation Decree njgeria employed several strategies to curtail them. The decree was repealed in with the promulgation of the Nigerian Investment Promotion Act.