The legal framework of merger and acquisition in nigeria. Prior to this, lagos municipality had been administered by the federal government through the. Nigeria had four national development plans in the period 19621985. Mediumterm development plans and national rolling plans were also developed and implemented with mixed results. It often involves a lot of research, discussions, consultations and negotiations. Nigeria has had a relatively long experience in development planning beginning with the colonial development plan 195868. Ahistoryofnigeria nigeria is africas most populous country and the worlds eighth largest oil producer, but its success has been undermined in recent decades by ethnic and religious con.
When the word development comes to mind, you think of growth, change for the better, advancement, significant progress and such. Corporate real estate development in nigeria olaseni adetokunboh, iyiade aibinu, sam agbato page 3 even though the landowners will provide as much information as possible, it is up to the real estate developers to satisfy themselves before entering into a commitment to acquire a site. This article is useful for policy makers, public office holders and researchers. Nigeria department of field support cartographic section map no. Haussmann 1856 central park first major purchase of parkland f l olmsted sr aicp exam prep history, theory and law early u. An overview of mergers and acquisitions under nigerian. In addition, the concept of a hostile takeover transaction is not recognized under the isa and the sec rules, and no particular rules exist to aid a party in a hostile takeover. Regulation of mergers in nigeria corporatecommercial. The final part of the chapter is an in depth analysis of the major constraints on planning and budgeting in nigeria. Growth elements in nigerias planning processes the. History of nigeria the history of nigeria can be traced to settlers trading across the middle east and africa as early as 1100 bc.
Nigeria is a famous country with more than one hundred and forty million population. Ministry of budget and national planning of nigeria, abuja, nigeria. Folake eliasadebowale is a corporate partner and head of the firms private equity and oil and gas teams. Mar 26, 2015 the consent of the board of the federal inland revenue service must be obtained for every merger and asset transfer in nigeria. May 12, 2020 national development planning in nigeria a brief history, stages, problems, and solutions. The era of fixed medium term plan 19621985 witnessed four successful plans in nigeria. Stock market bubble effects on mergers and acquisitions pdf. According to preliminary results of the 2006 census and subsequent estimates, the most populous cities in nigeria are lagos about 8 million, kano 3. It was originally set up by decree no 12 of 1992 as the national planning commission and later amended by act 71 of 1993. Educational policy in nigeria from the colonial era to the. The impact of strategic management on organisational growth. For the purposes of this project the colonial period is essentially. National interest and national development in nigeria.
Development strategy for nigeria moses akpobasah at a 2day nigeria meeting organized by the overseas development institute, london, 1617 june 2004 contact. There is a widened western educational gap between the north and south of nigeria with the predominantly muslim areas of the north lagging behind due to some historical antecedents. Federal ministry of budget and national planning nigeria wikipedia. The paper canvassed the need for synergy and collaborative approach to community development and reform initiatives anchored on theory to practice policy inclination. Collapse of the first republic and the commencement of civil war also disrupted the plan. The federal ministry of budget and national planning is one of the federal ministries of nigeria. There are several types of mergers and also several reasons why companies complete mergers. National development planning in nigeria a brief history, stages, problems, and solutions. Horizontal integration definition and notable examples investopedia. Emergence of planning ordinance of 1785 public land ordinance 1825. Constraints on budgeting and development plan implementation. The creation was part of the implementation of the statistical master plan smp, a programme document of the federal government of nigeria fgn. A recognition of the importance of planning and development control in any physical planning and development has propelled the researcher to carry out a study of planning and development control in nigeria with particular emphasis on abakaliki metropolitan city, ebonyi state.
The energy commission of nigeria ecn was established by act no. Local government administration in nigeria and community. Nigeria has had many plans and budgets since independence in 1960. After the civil war in 1970, the second national development plan 1970 to 1974 was launched, the plan priorities were in agriculture, industry, transport, manpower, defence, electricity, communication and water supply and provision of social services. Jan 14, 2016 development planning in nigeria can be classified under three eras. Merger and acquisition is a unique field in the nigeria legal system, and this is connected to the limited expertise in this area. The term national interest is characterized with inconsistency. Lagos state, nigeria was created on may 27, 1967 by virtue of state creation and transitional provisions decree no. 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 national planning commission was originally established by decree no 12 of 1992 and later amended by act 71 of 1993. The core responsibility of the commission is the formulation of medium term and long term economic and development plans for the nation organisation.
For instance, in nigeria, there is the federal office of statistics and national planning commission that provide information to the government for decisionmaking. Federal ministry of budget and national planning nigeria. Doc mergers and acquisitions in nigeria chukwuemeka. Association of town planning consultants atopcon for planning consultants.
Ahistoryofnigeria assets cambridge university press. These are the era of fixed term planning 196285, the era of rolling plan 19901998, and the new democratic dispensation 1999 till date. The 1917township ordinance, 1928 lagos town planning ordinance, nigeria town and country planning act of 1946, and the 1954 federal constitution were all intended to maintain spatial orderliness. The ideal government strives to achieve a favorable and commendable level of development so much so that its citizens appreciate the country they live in. To what extent has the nigerian development planning efforts embraced or incorporated the aforementioned factors. Through a balanced approach to plan execution, firstbank has consolidated its. The last major change was in 2004 with the enactment of the pensions reform act pra 2004. The 1998 merger of two major oil companies, exxon and mobil, was the biggest in corporate history at the time. Department of urban and regional planning federal university of technology, p.
Nigeria is the most populous cou ntry in africa, the second biggest economy, the third largest military power and the biggest oil producer 10th oil producer in the world. The economic history has been divided into merger waves based on the. In 2018 it saw the opportunity to accelerate its fiveyear plan with the merger of diamond bank, nigerians leading retail bank with 19 million customers, including. National development planning in nigeria semantic scholar. Historical and administrative perspectives and a discussion of the city of calabar joseph uyanga university of science and technology, port harcourt, nigeria abstract the paper discusses the history, organisational and policy structure of the nigerian urban planning scene. An endless search for appropria te development strategy iheanacho, e. National development plan of nigeria commonwealth governance. Problems of nigeria development plan and possible solutions. Wikimedia commons 18521870 paris model for city beautiful napoleon iii. Pdf corporate restructuring through mergers and acquisition. Abuja has been the capital of nigeria since december 12, 1991. The nigerian pension industry introduction nigerias pension legal framework has undergone multiple changes since the first legislative act on pension in 1951 called the pension ordinance, which had retroactive effect from 01 january 1946. Historical perspective of urbanization and urban planning. Abstract since independence, nigeria has embarked on series of national development.
Doc historical development of planning in nigeria ikpa. Journal of nigeria studies volume 1, number 2, fall 2012 political leadership and corruption in nigeria since 1960. Electricity generation and the present challenges in the. In a situation such as this, national interest does have a negative contribution to national development. In 2014 alone, nigeria recorded 24 mergers and acquisition.
Abstract this paper is purely on the historical account of land and planning laws in nigeria. Toyin falola, a leading historian intimately acquainted. In addition, experience show that this critical task which ought to draw input from critical sectors and be a bottomup process operates in the reverse. We are well positioned for this growth and continue to focus on our growth plans. Sets the criteria for registration as a town planner in nigeria. Babangidas sap was not nigeria s first attempt at economic planning. According to the colonial authority, the merger was chiefly an attempt to bring about administrative convenience, which in turn would be a means to an effective policing in nigeria nai cso 1776314.
Early government planning efforts, beginning in the late 1940s, had limited results. About 44 planning schools in nigeria located in urban and periurban areas olufemi, 20. The importance of development to the growth and sustenance of any and every nation cannot be overemphasized. Development planning in nigeria history, stages, problems. Development planning has been a consistent phenomenon in nigeria since 1946. It was noted that nigeria focused on use of education as a yardstick to the development of its citizenry. Introduction lagos occupies a unique position in the economic processes of the west african subregion. In the planning literature, strategic planning is often distinguished from operational planning.
Political leadership and corruption in nigeria since 1960. Development planning was the main strategies used by many governments and organizations to set their visions, missions, goals, and effective means of realizing development. As the economic and financial nervecentre, it accounts for over 70% of nigerias. This is one of the important activities performed by government of any nation. Development planning in nigeria has suffered from lack of coordination and harmonization of programmespolicies both within the tenure of an administration and those succeeding it. Ministry of budget and national planning of nigeria home. Four years after the merger, standard bank nigeria was incorporated locally to take over the business in nigeria. Geographical, historical and political profiles of nigeria. In 1966, following its merger with standard bank, uk, the bank adopted the. The merger rules do not apply to merger transactions that take place outside nigeria, even where the merging companies have affiliates or subsidiaries in nigeria. A given approach, such as modernist rational planning by trained planners, can be employed long after it comes. Strategic planning has to do with long and medium term decision making. Before going further, we need to be aware of the flow of events. A merger is an agreement that unites two existing companies into one new company.
People do hide under the cover of national interest to project and protect their own individual or group interest. There is no capital gains tax on the transfer of shares and this makes an acquisition by means of a transfer of shares more tax efficient than the transfer of the targets assets. Chevron achieved first production at the lianzi project in the angolarepublic of the congo joint development area, the moho bilondo phase 1b project in republic of the congo and the agbami 3 project in nigeria, and continued to ramp up production at. Of these studies in nigeria, none accessed the impact of strategic management of planning on manufacturing subsector of the economy. How we measure reads a read is counted each time someone views a publication summary such as the title. According to odens 1990, he term planning covers a wide range of activities. The nnpc was created as a merger of the nigerian national oil corporation nnoc and the ministry of petroleum, and was manned mainly. The national planning commission is headed by the minister of national planning, who is also the deputy chairman. Nigeria is the most populous country in africa, with more than 88 million people.
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