What was the motive behind indigenization decree in nigeria?

To promote self-reliance and economic independence. The Indigenization Decree was designed to encourage Nigerian indigenous participation and ownership of businesses and industries in the country. By ensuring that a significant percentage of ownership and management of key economic sectors was in the hands of Nigerians, the government sought to reduce dependence on foreign expertise and capital, stimulate domestic investment, and promote economic growth.

To address income inequality. The Indigenization Decree aimed to address the issue of income inequality in Nigeria by ensuring that a greater share of the profits from economic activities remained within the country and benefited Nigerian citizens. By increasing local participation and control, the policy sought to create more opportunities for Nigerians to participate in and benefit from the nation's economic activities, thereby reducing socio-economic disparities.

To mitigate foreign control and influence. The decree was also driven by a desire to reduce foreign control and influence over key economic sectors in Nigeria. There was a perception that certain industries, such as manufacturing, finance, and retail, were dominated by foreign interests, leading to concerns about potential economic and political vulnerabilities. The indigenization policy aimed to redress this situation by increasing local ownership and decision-making power.