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GCE Commerce 1990 Question 29

Question 29

Government and Business

One of the objectives of the indigenisation programme of the Federal Government of Nigeria is to

  1. A.encourage the use of local raw materials
  2. B.expel all foreigners from Nigeria
  3. C.make Nigerian businessmen very rich
  4. D.maximize local retention of profits
  5. E.promote foreign trade
Show the answer and explanation

Answer: D (maximize local retention of profits)

Explanation

By giving Nigerians ownership of businesses, more of the profits stay in the country.