Indigenisation In Nigeria,1972-1983 Resources And Income Re-Distrubution

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ABSTRACT

A major economic policy of the first military regime in Nigeria, 1966-79, was the indigenisation of the national economy. The aim was to put Nigerians, to a greater extent, in control of the economy of the nation. The history of the nation's indigenisation policy, close to policy flirtation by the colonial masters, was broached in 1946, and again in 1956. In 1964, under a post-colonial government, the policy was mooted, but a concrete formulation, perhaps delayed because of the political upheavals of 1966-70, was only adopted in 1972. The implementation of the policy in the different schedules, was to commence in 1974.

In 1977, the same Military, this time General Obasanjo's Government, promulgated another indigenisation decree which amended that of 1972, and re-organised the items to be indigenised from two to three schedules. According to the new decree, 1978 was the appointed dated for effective Nigerian part or full ownership and control in respect of the three- Schedule arrangement. Like most African economies under the stress of transition, the indigenisation policy since then has come under different criticisms and reviews. Hence in 1982, the civilian government of Alhaji Shehu Shagari introduced yet another amendment which affected the agricultural sector of the economy. These re-schedules and amendments were not only to bring more effect, but also to enlarge the scope of the policy.

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Indigenisation In Nigeria,1972-1983 Resources And Income Re-Distrubution

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