(a) Distinguish between Nationalization and Indigenisation (b) State any five advantages of nationalization and two objectives of indigenisation.

Assessment: WAEC SSCE - Commerce - 1990 (Essay) Subject: Commerce

Question 1 Report

(a) Distinguish between Nationalization and Indigenisation

(b) State any five advantages of nationalization and two objectives of indigenisation.

Answer

Nationalization	Indigenisation
Government takes over the ownership and control of privately owned businesses.	Ownership and control of businesses are transferred from foreigners to citizens (indigenes).
The takeover is by the state, so the enterprise becomes public property.	The transfer is to private citizens, so the enterprise remains privately owned but by nationals.
Aims to bring key industries under public control.	Aims to increase local participation in the economy.

Nationalization	Indigenisation
Government takes over the ownership and control of privately owned businesses.	Ownership and control of businesses are transferred from foreigners to citizens (indigenes).
The takeover is by the state, so the enterprise becomes public property.	The transfer is to private citizens, so the enterprise remains privately owned but by nationals.
Aims to bring key industries under public control.	Aims to increase local participation in the economy.

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