• Correct the imbalance in the development of
industries and help bring about a desirable
balance and diversification in them.
• Direct the flow of scarce resources in the most
desirable areas of investment in accordance
with national priorities.
• Prevent the wasteful use of scare resources and
ensure their conservation and judicious
• Empower the government to regulate the
establishment and expansion of private
industry in accordance with the planned
• Demarcate areas among the public, private
and joint sectors of the economy, as well as
large, medium and small-scale industries.
• Prevent, trough fiscal and monetary policies,
the formation of monopolies and
concentration of wealth in a few hands so that
the evils associated with monopolies can be
• Give guidelines for importing foreign capital
and the conditions on which such capital
should be permitted to operate.