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WAEC Commerce 1996 Question 11

Question 11

Government and Business

The process of involving local businessmen in the ownership and control of businesses that were formerly owned by foreigners is called

  1. A.nationalization
  2. B.industrialization
  3. C.indigenization
  4. D.commercialization
  5. E.privatization
Show the answer and explanation

Answer: C (indigenization)

Explanation

Indigenisation transfers ownership and control of foreign businesses to citizens.