When an industry or company is nationalized, the state becomes

Assessment: JAMB UTME - Commerce - 1995 Subject: Commerce

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When an industry or company is nationalized, the state becomes
Answer Details
When an industry or company is nationalized, the state becomes the only shareholder. Nationalization is a process whereby a government takes over private assets or companies and brings them under state ownership and control. This means that the government becomes the owner of the company and takes control of its operations, management, and profits. As the sole owner of the nationalized company, the state assumes all the rights, responsibilities, and risks associated with ownership, and has full control over the company's decision-making processes.
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