MAJEKODUNMI, Samuel Ayodele, PhD
Department of Business Administration,
College of Humanities & Management Sciences
Mountain Top University, KM 12, Lagos-Ibadan Expressway,
Ibafo, Ogun State, Nigeria


AINA, Samuel Oluleke
Department of Public Administration,
School of Management and Business Studies
Yaba College of Technology, Herbert Macaulay Road,
Opposite WAEC Office, Yaba Lagos, Nigeria

Indigenization policy in Nigeria has failed to deliver the objectives associated with its promulgation. Especially in the area of continuity of businesses, using knowledge gained and technology transfer. In middle of 2023, GSK, a pharmaceutical company, relocated from Nigeria, today the products of the company are available at exponential prices. P &G is exiting Nigeria, Dunlop tyre, Michelins tyre, and several others have relocated from Nigeria and there are no indigenous replacement for them, so the problems of job loss, importing the products and selling at practically throat-cutting prices has continued. Indigenization policy has almost become a history piece in Nigeria. As such, optimal exploration of the benefits associated with it has remained elusive. The policy needs conceptual illumination in order to rescue it from being restricted to mere history, and thereby enhance persistent and articulate reappraisal and healthy implementation of the policy. The passion to bridge the identified gap constitute the driving force to embark on this work titled ‘conceptual illumination of indigenization policy in Nigeria.’ Methodology adopted for this study is conceptual method. Findings from conceptual analysis indicated that the benefits associated with indigenization policy is enormous. The study concludes that indigenization policy requires dedicated implementation. The study recommends conscious efforts by the appropriate policy organs to ensure that citizens retain the knowledge and technology transferred to Nigeria, and use same to move economy forward, even when foreign organizations relocated.
Keywords: Conceptual; Illumination; Indigenization; Policy; Nigeria

Extant authors have provided general knowledge on indigenization policy in Nigeria, and the historical context that led to the formulation of the indigenization policy. However, major provisions of the indigenization policy, and how it affects ownership and management of businesses in Nigeria still require much clarifications. The foregoing constitutes a gap, which this study intends to close. Therefore, this study captioned ‘conceptual illumination of indigenization policy in Nigeria’ came with the objective of addressing the gap identified. The study adopted qualitative method, and harnessed data via secondary sources. Using deductive approach, relevant information emerged. Findings indicated that indigenization policy influences the Nigerian economy and society. Government policies come with both positive and negative consequences. Indigenization contributes to the empowerment of Nigerian citizens, particularly in terms of job creation and wealth distribution. Indigenization policy attracts criticisms from the opponents. On the premises of findings, the study concluded that, indigenization policy in Nigeria is worthy, and meritorious. There are recommendation emanating from the study, namely, increase of efforts towards implementation of indigenization policy to strengthen the economy; government should consolidate on the gains associated with proper implementation, such as job creation and wealth creation.

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