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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The Myths and Realities of Nigeria's Business Indigenization
Author:Adejugbe, Michael
Year:1984
Periodical:Development and Change
Volume:15
Issue:4
Period:October
Pages:577-592
Language:English
Geographic term:Nigeria
Subjects:business
Africanization
Economics and Trade
Link:https://doi.org/10.1111/j.1467-7660.1984.tb00197.x
Abstract:The promulgation of indigenization laws in Nigeria in the 1970s, viz. the Nigerian Enterprises Promotion Act of 1972, subsequently replaced by NEPA 1977, was inevitable given similar enactments in other African countries, the civil war experience, and the type of government (military) that was in power. The expressed goals of the policy can be summed up as the promotion of indigenous enterprises, nominal ownership of equity of foreign companies, managerial and technological control, the even distribution of economic activities among persons and regions, and the maximum retention of income accruing from the operations of multinational enterprises. The present article evaluates in particular the extent to which share purchases have facilitated control of firms affected by the indigenization laws. App., notes, ref., tab.
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