Nigerian indigenization decree was promulgated in order to

The Nigerian indigenization decree was promulgated in 1972 with the aim of allowing indigenous Nigerians to have full participation in the economic activities of the country. The decree required foreign investors to sell at least 60% of their shares to Nigerians and allow them to participate in the management of the company. This was a way of empowering Nigerian citizens and reducing the economic dominance of foreigners in the country. The decree helped to create more job opportunities for Nigerians, promote local entrepreneurship, and encourage the growth of Nigerian-owned businesses. Overall, the indigenization decree was an important step towards economic independence and development in Nigeria.