Towards Economic Survival and Self-sufficiency: a Historical Exploration of Nigeria’s Indigenisation Policy, 1972 and 1977

Towards Economic Survival and Self-sufficiency: a Historical Exploration of Nigeria’s Indigenisation Policy, 1972 and 1977

Adeyinka Theresa AJAYI (Ph.D)

Department of History and International Studies, Ekiti State University, Ado- Ekiti, Nigeria.

International Journal of Trade and Policy

Indigenisation was a major strategy employed by the Nigerian government in the 1970s to exercise more control over the nation’s economy. It was indeed a bold attempt to enhance the economic survival and self-sufficiency of the nation. This study therefore interrogates the rationale, methods and impact of Nigeria’s indigenisation policy on the country’s economic welfare then and beyond. It notes that indigenisation was proposed from four different angles: ownership, technology, control and manpower. The paper took a critical look at the indigenization policy’s provisions in Nigeria’s National Development Plan of 1970-1974, the Nigeria Enterprises Promotion Decree of 1972, as amended, and the extent to which their goals were achieved. It concludes that though indigenization was applauded, it failed to achieve the desired goals of promoting economic stability and survival of the Nigerian nation.

Keywords: Towards Economic Survival, Self-sufficiency, Historical Exploration, Nigeria’s Indigenisation Policy

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How to cite this article:

SanaAdeyinka Theresa AJAYI. Towards Economic Survival and Self-sufficiency: a Historical Exploration of Nigeria’s Indigenisation Policy, 1972 and 1977. International Journal of Trade and Policy, 2018,1:2. DOI:10.28933/ijtp-2018-05-1201


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