Indigenisation of industry and progress of the second Nigerian development plan

This policy aims at increasing industrial ownership by Nigerian citizens through partial and whole acquisition of foreign owned enterprise and through indigenous promotion of industry. The acquisition of foreign owned enterprise is regulated by the Nigerian Enterprise Promotion Decree of 1972, which has taken effect March 31, 1974. Some 22 industries, mainly services, transport and retailing, have thus become wholly Nigerian owned, and in 33 specific industries indigenous ownership is at least 40 percent. Indigenisation of management of foreign-owned companies has also made considerable progress. The article contains information on the role of expatriates and Nigerians in the management of a sample of 75 companies.