In nigeria, there have been divergent opinions expressed by the public since the introduction of deregulation policy to the downstream sector. The negative effect of oil spillage on nigerian cannot be over emphasized, in terms poor crops harvest, aquatic destruction and impact on human health and wellbeing. Oct 18, 2012 oil companies make you believe that 70% of oil spills in the niger delta are as a result of sabotage. Analysing remediation of contaminated land in nigeria. Get free research paper on challenges of merger and acquisition in nigerian our project topics and materials are suitable for students in nigeria with case studies. A merger is the amalgamation of the undertakings or any part of. Electricity supply in nigeria dates back to 1886 when two 2 small generating sets were installed to serve the then colony of lagos. Nigerian upstream petroleum industry history and laws part. Savannah petroleum plc memorandum of understanding with nndc. The significance of this research is to provide local and foreign investors with the whither knowhow of the practice of merger and acquisition in nigeria. The role of environmental impact assessment in nigerias oil and gas industry mohammed nuruddeen isah a thesis submitted in partial fulfilment of the requirements for the degree of doctor of philosophy cardiff university september 2012 school of earth and ocean sciences cardiff university park place cardiff cf10 3at united kingdom. Abstract the research study of corporate merger and acquisition. In relation to intermediate and large mergers, a premerger notification must be filed at.
Recently, in october 2011, nigerian breweries acquired majority equity interests in. This is approved for students in accountancy business computer science economics engineering arts. Sep 17, 2017 to demonstrate the existence of any pre1969 rights as reserved by the saving provisions of the petroleum act, one would expect to see a concession agreement granted under the minerals oils ordinanc. Challenges of merger and acquisition in nigerian a case.
The legal framework of merger and acquisition in nigeria. Many factors has been attributed as the causes of oil spillage in nigerdelta region some of which will be discussed and solution will be proffered to policy makers for better. Jul 10, 2012 likewise, spills at sea, such as the 2010 gulf disaster, may contaminate soil and water miles away from the sites. Department of civil engineering, federal university of technology owerri, nigeria abstract. The paper examined the challenges of merger and acquisition in nigerian with special reference to telecommunication sector in nigeria. The niger delta suffers from an epidemic of oil spills. The fccpa is thus saddled with the regulation of merger transactions in nigeria. An overview of mergers and acquisitions under nigerian.
Pursuant to the provisions of the isa, the key regulator for merger and acquisition is the securities and exchange commission sec rules. Impacts and management of oil spill pollution along the nigerian fig. The commission is concerned with the prevention of monopoly in the economy. Sep 17, 2012 in late december 2006, more than 200 people were killed in the lagos region of nigeria in an oil line explosion. This is potentially welcome, yet the bill ultimately. Shell lists challenges in nigerian operations the guardian. This is coming less than three years after the americans stopped imports of nigerian oil.
Electricity generation and the present challenges in the. Oil spillage synonyms, oil spillage pronunciation, oil spillage translation, english dictionary definition of oil spillage. Efstathios demetriades3, kavala institute of technology abstract this study investigates the merger effects of two banks. Heller and johannes schreuder summary the 2012 executive draft of the petroleum industry bill 2012 pib proposes to restructure the nigerian national petroleum corporation nnpc. The federal republic of nigeria nigeria was selected as a case study due to its long history of trying to develop the downstream sector out of its oil industry through various policies with differing levels of success. Ajayi department of geography, university of ibadan, nigeria abstract perhaps one major problem facing nigeria today that has received little or no attention remains her low industrial base. Fortyeightyearold ebiowei drags a hose used to siphon crude oil at an illegal refinery site in nigeria s oil rich state of bayelsa. Effects of oil spillage on groundwater quality in nigeria nwachukwu a.
The petroleum industry bill and the future of nnpc by aaron sayne, paasha mahdavi, patrick r. The merger took place in mid 1999s and the effect was the alpha bank. The principal law that governs the merger and acquisition in nigeria is the investment and securities act isa 2007. Nigeria joined the organisation of petroleum exporting countries opec in 1971 and established the nigerian national petroleum company nnpc in 1977, a state owned and controlled company which is. A small merger is one in which the combined assets or turnover of the merging companies is less than n1,000,000,000. Royal dutch shell, nigeria s biggest oil producer, said on tuesday that a leak to an oil pipeline in rivers state had cut its output there by 180,000 barrels per day. The role of mergers and acquisitions as a survival tool for organizations in nigeria, largest undergraduate projects repository, research works and materials. Pdf oil spill problems and management in the niger delta. On december 24, 2011 many nigerian newspapers reported the oil spillage at bonga, an oil creek in the nigerdelta region of nigeria.
All of these spills have had a devastating impact on the agriculture, environments and general wellbeing of the local communities. Jun 20, 2018 to say that the brass liquefied natural gas lng project has been streamed with too many tentativeness is an understatement. The most publicised of all oil spills in nigeria occurred on january 17 1980 when a. Decoding shell and enis poor record on oil spills pdf. Merger control 2020 laws and regulations nigeria iclg. The director, petroleum resources in the ministry, mordecai ladan, made this known at the public hearing on despoliation of the niger delta and activities of nigeria agip oil company by the. The coastal area of the niger delta is the home to oil explorations and exploitations in nigeria. Agip recorded 2,418 oil spills in 7 years premium times nigeria. Support the guardian available for everyone, funded by readers.
This is a merger or proposed merger with a volume at or below the lower threshold, which is 1 billion naira. Impacts and management of oil spill pollution along the. Memorandum of understanding with nndc and nnpc in nigeria savannah petroleum plc savannah is pleased to announce the signature of a memorandum of understanding mou with the new nigeria development company ltd nndc and nigeria national. Causes and terrain of oil spillage in niger delta region of. Total value of the mergers and acquisitions was put at. Can merger and acquisition add significant value of the firms shares. Apr 27, 2018 nigeria not pulling out of 2020 olympics yet as ioc sets 14day decision deadline. The effects of oil spillage in the niger delta education. Effects of oil spillage on groundwater quality in nigeria.
May 05, 2010 shell also was accused in a us lawsuit of playing a role in the 1995 executions of activist ken sarowiwa and other civilians by nigeria s former military regime. Oil spill disaster in nigeria the bonga field oil spill. May 26, 2017 nigeria oil governance bill aims to break up state oil company nnpc. Environmental conflict and internal migration in the niger delta. The increase in oil boom in the 70s was an era of huge and expensive prospect of doubtful utility and viability. Nigeria and community representatives, which involves joint investigation visits jiv to spill sites. Make sure to upload the jiv attachment to this record now or within 5 working days, by instruction from the director general. Add here jiv images, forms, site pictures, lab sample results, etc. The procedure for a merger is determined by the threshold under which the merger falls and by the provision of section 120 of the isa, there are three classes and thresholds for merging companies in nigeria. Some nigerians see the policy as a way of introducing high fuel prices by the government, while other people view it as a way of ending the scarcity and shortages of petroleum products.
Nigeria witnessed an unprecedented wave of mergers and acquisitions in its banking sector in the post1995 and 2009 periods as a result of regulatory mandates issued by the central bank of nigeria, aimed at strengthening the capital base of nigerian banks. Download undergraduate projects topics and materials accounting, economics, education. Nigeria launches cleanup in devastated oil spill region. Merger and acquisition activity mergers, acquisitions, joint ventures, divestitures is at an alltime high. Does merger and acquisition solve the depressed situation of economic woe in nigeria. Jan 09, 2018 eni lawsuit re oil spill in nigeria in may 2017, the ikebiri community of nigeria filed a lawsuit against eni in italy for cleanup and compensation of nearly 690 million naira around 2 million euros following an oil spill in the niger delta on 5 april 2010. Nigeria crude oil reserves opendata for the national bureau. Nigeria recorded 24 mergers and acquisitions in 2014, driven largely by the continuing divestments by banks from noncore financial services. Theoretical framework this study is anchored on the following theories. The purpose of this research study is to highlight the quality dimension and time dimension of the expected financial benefit quantifiable in monetary terms as measured by the change in earning per share and it is consistent with maximizing the wealth of owners ordinary share holderclick to download now pass your post. The key environmental issues in the niger delta of nigeria relate to its petroleum and industry.
Recent oil spills in delta and bayelsa states, nigeria three oil spills have been reported in the press in august and september 2016. This messaging system is designed to exonerate them of any liabilities and adds frost to the fact that much of the oil infrastructure in nigeria in terms of pipelines and platforms are old, poorly maintained and prone to leaks and blowouts. Oil spill investigations in the niger delta, 20 index. Despite the economic recession the country experienced few years ago, recent regulatory reforms aimed at solving. The study concluded that to reduce or manage oil spillage in nigeria, the federal government and federal environmental management agency should enforce the. Golden noodles nigeria limited, golden transport company limited, fmn cement industries. The purpose of the study was to ascertain the effect of oil spillage on groundwater quality in the oil producing niger delta region of nigeria. Nigeria shell and nigerias government contributed to 50 years of pollution in a region of the niger delta that could need the worlds. The effect of mergers and acquisitions on the performance. Issues and challenges crude oil exploration, exploitation. Flour mills of nigeria plc fmn, an agroallied company, has received approval from its shareholders to merge five of its subsidiaries with its holding company under a scheme of external restructuring. The theory of efficiency according to the value increasing school, mergers occur, broadly, because mergers generate synergies.
The new mechanism promotes transparency and participation. Financial performance before and after mergers and acquisitions of the selected indian companies chapter1 introduction. These forms of combinations are defined under the primary laws that govern business combinations in nigeria set out in question 2 as follows. Shell nigeria is the common name for royal dutch shells nigerian operations carried out. Hypothesis is a tentative and testable explanation usually in a declarative form of the relationship between variables. Nnpcs subsidiary to produce largest share of oil daily the. Landmark university, pmb 1001, omuaran, kwara state, nigeria. Linkages between crude oil exploration and agricultural development in nigeria. Major new inquiry into oil spills in nigeria s niger delta launched. Mergers and acquisitions edinburgh business school ix preface an understanding of mergers and acquisitions as a discipline is increasingly important in modern business. Get free research paper on the effects of oil spillage in the niger delta a case study of ughelli south local government area of delta state project topics and materials in nigeria. Evidence from nigeria sylvester feyi akinbuli, university of lagos, distance learning institute ikechukwu kelilume, lagos business school abstract it is a widely held view that a strategic solution to financial distress in corporate organizations is mergers. Recommendations to prevent oil spills by boat owners, marinas, and boatyards these recommendations stress regular and careful boat maintenance, knowledge of best management practices for fueling, oil changes, or overhauls, and responsible management and disposal practices for used oil and oily wastes.
Nigeria the petroleum industry bill and the future of nnpc. The effects of oil spillage in the niger delta a case study of ughelli south local government area of delta state table of content chapter one introduction 1. Merger and acquisition is a unique field in the nigeria legal system, and this is connected to the limited expertise in this area. Recent oil spills in delta and bayelsa states, nigeria sdn. The immediate effect of the brass oil war was that public opinion in britain turned against the the royal nigeria company, so its charter was revoked in 1899.
Lagos, may 26 reuters the longawaited oil governance bill passed by nigerias upper. Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. In nigeria, both companies and government have come to treat an extraordinary level of oil spills as. Home to 20 million people and 40 different ethnic groups, this floodplain makes up 7. Mergers and acquisitions edinburgh business school. Oil spillage has a major impact on the ecosystem into which it is released and many constitute ecocide.
The impact of merger and acquisition on shareholders wealth in nigeria, free undergraduate project topics, research materials, education project topics, economics project topics, computer science project topics, hire a data analyst. Indias hindustan petroleum corporation is considering dumping nigerias sweet crude for us oil. If you wish to enquire as to whether this country chapter is available in a previous edition of energy in print. A glance at any business newspaper or business news web page will indicate that mergers and acquisitions are big business and are taking place all the time. Recommendations to prevent oil spills caused by human error. Law and practice of mergers and acquisition in nigeria by. Nigeria oil governance bill aims to break up state oil. Get free research paper on challenges of merger and acquisition in nigerian our project topics and materials are suitable for students in nigeria with case studies in pdf, doc. Department of agricultural economics and extension, joseph ayo babalola university, ikejiarakeji, nigeria email. Oil spillage and heavy metals toxicity risk in the niger delta, nigeria. This research work seeks to examine the impacts of mergers and acquisition of commercial banks. Following the revoking of its charter, the the royal niger company sold its holdings to the british government for. The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed. Linkages between crudeoil exploration and agricultural.
The governor of central bank of nigeria, professor charles soludo in defense of the new capital base of n25billion and consolidation by merger and acquisition did analysis of the position of the government of the federal republic of nigeria and their reform programme to have a banking system that will be a strong bedrock for economic building. The fccpa established a regulatory body which now regulates mergers and acquisitions, among others. Nigeria records 24 mergers, acquisitions latest nigeria. In 1970, there was an oil spill from a shell pipeline caused primarily by corrosion and operational failure resulting in over 250 barrels of oil spilled. A case for reform in nigeria executive summary nigerias national oil company, the nigerian national petroleum corporation nnpc, sells around one million barrels of oil a day, or almost half of the countrys total production.
Merger control laws and regulations nigeria covers common issues in merger control laws and regulations including relevant authorities and legislation, notification and its impact on the transaction timetable, remedies, appeals and enforcement and substantive assessment in 55 jurisdictions. Implications for relevant qualitative data collection and analysis to improve rural economy. The nigerian national petroleum corporation nnpc is the oil corporation through which the federal government of nigeria regulates and participates in the countrys petroleum industry. The banking reform carried out on the 6th of july, 2004, had been a major wave towards a formidable diversified, strong and reliable banking sector in nigeria. Badejo abstract nigeria has a coastline of approximately 853km facing the atlantic ocean. Tailing the politics of the brass project since2004 when the company was incorporated. A major reason for conglomerate takeovers, or mergers is diversification of activities into other. Download free research project topics and materials in nigeria. An appraisal of cases of corporate mergers and acquisition. Nigerian regulations of the oil industry are weak and rarely enforced, allowing in essence, the industry to selfregulate. The effect of mergers and acquisitions on the performance of companies the greek case of ionikilaiki bank and pisteos bank dimitrios maditinos1. The role of mergers and acquisitions as a survival tool. Impacts and management of oil spill pollution along the nigerian coastal areas peter c.
Introduction in nigeria, mergers by private or public companies are principally regulated under the investments and securities act 2007 the isa and the rules and regulations made pursuant to the isa the sec rules. Nigerias nnpc bans 1 oil tankers from nigerian waters. Jul 01, 2012 am a ugandan, oil in our region was first discovered in 1938, now production is soon commencing in one of the world rich biodiversity areas. Oil spillage definition of oil spillage by the free dictionary. In relation to intermediate and large mergers, a pre merger notification must be filed at the sec. Although the country has the 10th largest oil reserves in the world and over 90 percent of nigerias export revenue and 35.
Okonkwo at by central bank of nigeria and west african institute for financial and economic management waifem. Flour mills of nigerias shareholders approve merger of. By an act of parliament in 1951, the electricity corporation of nigeria ecn was established, and in 1962, the niger dams authority nda was also established for the development of hydro electric power. The nnpc business operations are managed through strategic business and corporate services units sbuscsus in diverse locations across nigeria. Umoren and olokoyo 2007 studied merger and acquisition in nigeria. India considers dumping nigerias oil for us crude thecable. Regulation of mergers in nigeria afoke igwe, bayo onamade i. Jul 20, 2015 nigeria s state oil company nnpc has banned 1 oil tankers from the countrys waters, citing a directive from president muhammadu buhari, in what traders said could be part of efforts to crack. Accepted 30th october, 2015 mergers and acquisitions as a form of corporate restructuring are reform strategies recently adopted to reposition the banking sector.
Nigeria s oil output has been slashed about onequarter because of recent leaks, sabotage and unrest in the delta. The very first transaction assignment of any kind that the firm ever advised on was the acquisition by the sale of shares of a thenmoribund but later thriving insurance company. Berkeley legal mergers and acquisition under current. Nigeria chapter to merger control 2019 does not exists.
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