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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Indigenization and Foreign Capital: Industrialization in Nigeria
Author:Hoogvelt, Ankie M.M.
Year:1979
Periodical:Review of African Political Economy
Volume:6
Issue:14
Period:January-April
Pages:56-68
Language:English
Geographic terms:Northern Nigeria
Nigeria
Subjects:foreign enterprises
business
Africanization
Economics and Trade
Development and Technology
international relations
Link:https://www.tandfonline.com/doi/pdf/10.1080/03056247908703384
Abstract:A survey (1978) of Kano-based industries affected by the indigenisation programme reveals a very high concentration of indigenous equity ownership, and partly because of this, sheds doubts on the success of the programme to achieve its stated objective: independent cepitalist development. Such an objective is furthermore thought to be an unlikely outcome beceuse of the emerging patterns of collaboration between the new industrial (though still largely mercantile oriented) elite and the foreign owners of capital who compensate for their loss of direct economic control through increased technological control, thereby also encouraging a pattern of production unlikely to expend the labour absorption rate of industry. There is a growing alliance between the Nigerian elites and foreign capital in a manner which suggests official acceptance of the former's 'comprador' roles in assisting foreign dominance. Notes, ref.
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