Explain any four of the following terms: (a) Nationalization (b) Commercialization (c) Privatization (d) Indigenization...

Explanation

(a)Nationalisation; is a deliberate policy by which governments take over the control and ownership of private enterprises due to economic, political, social or strategic reasons.

(b)Commercialisation; is a policy geared towards making state owned enterprises to become more efficient and profit oriented. The policy makes it possible for public enterprises to become more viable and effective.

(c)Privatization; is a policy designed to enable individuals and private or corporate organizations take over the owner-ship and control of government businesses such as public companies and corporations.

(d)Indigenisation; is the process through the use of law in which indigenes of a country are made to participate actively or to take control of the commercial, industrial and other sectors of the economy.

(e) Joint ventures;are those businesses in which private investors and governments are in partnerships.