A large number of foreign-owned small businesses and industries have been banned in Nigeria. The?
A large number of foreign-owned small businesses and industries have been banned in Nigeria. The ban, announced by the military Government last month, affects concerns where the fixed capital is under GBP200,000 Nigerian (GBP17,000 Sterling), and where less than 40 per cent of the capital is owned by indiginous Nigerians. On the banned list are 26 types of industry and businesses, ranging from all retail trade and most light engineering to internal air transport and shrimp trawling. The ban has been made, according to the Government, to enable Nigerians to have a greater share in the country's economy.