Indigenization policy is a measure aimed at

Step 1: Analyze the question The question asks about the main aim of an indigenization policy. The key is the word "indigenization," which comes from "indigene" (a native or citizen of a country).

Step 2: Explain the concept Indigenization means transferring ownership and control of businesses from foreigners to a country's own citizens. In Nigeria, this was done through the Nigerian Enterprises Promotion Decrees of 1972 and 1977. These laws reserved certain businesses for Nigerians and required foreign companies to sell part of their shares to Nigerians. The goal was to reduce foreign control over the economy and give citizens a bigger role in it.

Step 3: Evaluate each option

• A. Privatizing state-owned businesses: This is privatization, which moves businesses from government to private owners. It is not the same as indigenization.
• B. Commercializing state-owned businesses: This is commercialization, where government-owned enterprises are run on profit-making principles while the government keeps ownership.
• C. Reducing foreign economic domination: This matches the purpose of indigenization, which is to shift ownership and control from foreigners to citizens.
• D. Making indigenes managing directors: This is too narrow. Indigenization is about ownership and participation in the economy, not just filling top management positions.

Step 4: Answer The correct option is C. reducing foreign economic domination.

Tip: Link each term to its key idea:

• Indigenization → Indigenes (citizens) take over from foreigners
• Privatization → Private ownership replaces government ownership
• Commercialization → Government keeps ownership but runs the business for profit
• Nationalization → Government takes over private businesses