The aim of indigenization policy was to

Step 1: Analyze the question The question asks about the aim of Nigeria's indigenization policy. It is a recall question on the Nigerian economy.

Step 2: Explain the concept The Nigerian Enterprises Promotion Decree (the Indigenization Decree) was introduced in 1972 and extended in 1977. Its purpose was to transfer ownership and control of certain businesses from foreigners to Nigerians. The government wanted Nigerians to have a real share in running and owning the economy, instead of leaving it to foreign firms. The decree reserved some business activities for Nigerians only and required that Nigerians hold a minimum share in others.

Step 3: Evaluate each option

• A. Build more industries: Wrong. The policy was about ownership and control of existing businesses, not building new industries.
• B. Increase the drain in foreign exchange: Wrong. If anything, the policy aimed to reduce profit repatriation abroad.
• C. Increase foreign domination: Wrong. This is the opposite of the policy's goal.
• D. Increase the participation of Nigerians in commerce and industry: Correct. This matches the purpose of the policy exactly.
• E. Send all foreigners away: Wrong. The policy limited foreign ownership in some sectors. It did not expel foreigners, and foreign investors were still allowed to participate.

Step 4: Answer

Exam tip: Think of "indigenous" as meaning "native." Indigenization means giving natives (Nigerians) more ownership and participation. In NECO and JAMB questions, extreme options like "send all foreigners away" are usually wrong, and so are options that run against national interest, such as "increase foreign domination."