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. Effects of oil spillage on groundwater quality in nigeria. Recommendations to prevent oil spills caused by human error. Recent oil spills in delta and bayelsa states, nigeria sdn. Effects of oil spillage on groundwater quality in nigeria nwachukwu a. 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. Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. 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 niger delta suffers from an epidemic of oil spills. 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. 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 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. Oil spillage and heavy metals toxicity risk in the niger delta, nigeria.
These forms of combinations are defined under the primary laws that govern business combinations in nigeria set out in question 2 as follows. They are distributed free of charge in pdf format via the. Jul 10, 2012 likewise, spills at sea, such as the 2010 gulf disaster, may contaminate soil and water miles away from the sites. Mergers and acquisitions edinburgh business school. In nigeria, there have been divergent opinions expressed by the public since the introduction of deregulation policy to the downstream sector. The key environmental issues in the niger delta of nigeria relate to its petroleum and industry. Nigeria and community representatives, which involves joint investigation visits jiv to spill sites. A merger is the amalgamation of the undertakings or any part of. 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. The effect of mergers and acquisitions on the performance of companies the greek case of ionikilaiki bank and pisteos bank dimitrios maditinos1. May 26, 2017 nigeria oil governance bill aims to break up state oil company nnpc. 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.
All of these spills have had a devastating impact on the agriculture, environments and general wellbeing of the local communities. 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. Nigeria the petroleum industry bill and the future of nnpc. 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. Department of agricultural economics and extension, joseph ayo babalola university, ikejiarakeji, nigeria email. 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. Tailing the politics of the brass project since2004 when the company was incorporated. Shell lists challenges in nigerian operations the guardian. Golden noodles nigeria limited, golden transport company limited, fmn cement industries. 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. 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. An overview of mergers and acquisitions under nigerian.
Nigerias nnpc bans 1 oil tankers from nigerian waters. Despite the economic recession the country experienced few years ago, recent regulatory reforms aimed at solving. Regulation of mergers in nigeria afoke igwe, bayo onamade i. Hypothesis is a tentative and testable explanation usually in a declarative form of the relationship between variables. The effect of mergers and acquisitions on the performance. Okonkwo at by central bank of nigeria and west african institute for financial and economic management waifem. Oil spillage definition of oil spillage by the free dictionary. Can merger and acquisition add significant value of the firms shares. Nnpcs subsidiary to produce largest share of oil daily the.
The petroleum industry bill and the future of nnpc by aaron sayne, paasha mahdavi, patrick r. 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 new mechanism promotes transparency and participation. Berkeley legal mergers and acquisition under current. Savannah petroleum plc memorandum of understanding with nndc. 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. Merger and acquisition activity mergers, acquisitions, joint ventures, divestitures is at an alltime high. Shell nigeria is the common name for royal dutch shells nigerian operations carried out. Oil spillage has a major impact on the ecosystem into which it is released and many constitute ecocide.
Electricity supply in nigeria dates back to 1886 when two 2 small generating sets were installed to serve the then colony of lagos. Causes and terrain of oil spillage in niger delta region of. If you wish to enquire as to whether this country chapter is available in a previous edition of energy in print. Badejo abstract nigeria has a coastline of approximately 853km facing the atlantic ocean.
Oil spill investigations in the niger delta, 20 index. Environmental conflict and internal migration in the niger delta. Recent oil spills in delta and bayelsa states, nigeria three oil spills have been reported in the press in august and september 2016. This research work seeks to examine the impacts of mergers and acquisition of commercial banks. Support the guardian available for everyone, funded by readers. 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. 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. 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. Although the country has the 10th largest oil reserves in the world and over 90 percent of nigerias export revenue and 35. In relation to intermediate and large mergers, a pre merger notification must be filed at the sec. Indias hindustan petroleum corporation is considering dumping nigerias sweet crude for us oil. Nigerian regulations of the oil industry are weak and rarely enforced, allowing in essence, the industry to selfregulate. 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. 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.
Electricity generation and the present challenges in the. Mergers and acquisitions edinburgh business school ix preface an understanding of mergers and acquisitions as a discipline is increasingly important in modern business. In nigeria, both companies and government have come to treat an extraordinary level of oil spills as. Umoren and olokoyo 2007 studied merger and acquisition in nigeria. Theoretical framework this study is anchored on the following theories. 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. Home to 20 million people and 40 different ethnic groups, this floodplain makes up 7. Decoding shell and enis poor record on oil spills pdf.
This is coming less than three years after the americans stopped imports of nigerian oil. 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. Analysing remediation of contaminated land in nigeria. The study concluded that to reduce or manage oil spillage in nigeria, the federal government and federal environmental management agency should enforce the. On december 24, 2011 many nigerian newspapers reported the oil spillage at bonga, an oil creek in the nigerdelta region of nigeria. 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. Law and practice of mergers and acquisition in nigeria by. India considers dumping nigerias oil for us crude thecable. Nigeria s oil output has been slashed about onequarter because of recent leaks, sabotage and unrest in the delta. Efstathios demetriades3, kavala institute of technology abstract this study investigates the merger effects of two banks. Nigeria recorded 24 mergers and acquisitions in 2014, driven largely by the continuing divestments by banks from noncore financial services. Flour mills of nigerias shareholders approve merger of.
A major reason for conglomerate takeovers, or mergers is diversification of activities into other. Issues and challenges crude oil exploration, exploitation. Challenges of merger and acquisition in nigerian a case. Mar 16, 2016 the royal dutch shell says security issues surrounding the safety of its people, sabotage and theft are some of the major risks and challenges affecting its operations in nigeria. This is potentially welcome, yet the bill ultimately. 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. 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. Nigerian upstream petroleum industry history and laws part. Implications for relevant qualitative data collection and analysis to improve rural economy. Shell reports record oil spillages in nigeria environment. Landmark university, pmb 1001, omuaran, kwara state, nigeria. This is approved for students in accountancy business computer science economics engineering arts. This is a merger or proposed merger with a volume at or below the lower threshold, which is 1 billion naira. 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.
The fccpa established a regulatory body which now regulates mergers and acquisitions, among others. Agip recorded 2,418 oil spills in 7 years premium times nigeria. 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. Accepted 30th october, 2015 mergers and acquisitions as a form of corporate restructuring are reform strategies recently adopted to reposition the banking sector. Major new inquiry into oil spills in nigeria s niger delta launched. Lagos, may 26 reuters the longawaited oil governance bill passed by nigerias upper. Pdf oil spill problems and management in the niger delta. The effects of oil spillage in the niger delta education. Oil spill disaster in nigeria the bonga field oil spill.
Nigeria oil governance bill aims to break up state oil. Linkages between crude oil exploration and agricultural development in nigeria. Department of civil engineering, federal university of technology owerri, nigeria abstract. Pursuant to the provisions of the isa, the key regulator for merger and acquisition is the securities and exchange commission sec rules.
The principal law that governs the merger and acquisition in nigeria is the investment and securities act isa 2007. Impacts and management of oil spill pollution along the nigerian fig. Merger and acquisition is a unique field in the nigeria legal system, and this is connected to the limited expertise in this area. Does merger and acquisition solve the depressed situation of economic woe 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. Nigeria records 24 mergers, acquisitions latest nigeria. Add here jiv images, forms, site pictures, lab sample results, etc. Linkages between crudeoil exploration and agricultural. Oil spillage synonyms, oil spillage pronunciation, oil spillage translation, english dictionary definition of oil spillage. The increase in oil boom in the 70s was an era of huge and expensive prospect of doubtful utility and viability. Nigeria crude oil reserves opendata for the national bureau. 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. 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. A small merger is one in which the combined assets or turnover of the merging companies is less than n1,000,000,000.
Financial performance before and after mergers and acquisitions of the selected indian companies chapter1 introduction. 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. Abstract the research study of corporate merger and acquisition. Recently, in october 2011, nigerian breweries acquired majority equity interests in.
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. Nigeria launches cleanup in devastated oil spill region. The legal framework of merger and acquisition in nigeria. Impacts and management of oil spill pollution along the nigerian coastal areas peter c. 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. 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 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. The merger took place in mid 1999s and the effect was the alpha bank.
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. The theory of efficiency according to the value increasing school, mergers occur, broadly, because mergers generate synergies. The fccpa is thus saddled with the regulation of merger transactions in nigeria. An appraisal of cases of corporate mergers and acquisition. The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed. Oct 18, 2012 oil companies make you believe that 70% of oil spills in the niger delta are as a result of sabotage. 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.
Make sure to upload the jiv attachment to this record now or within 5 working days, by instruction from the director general. The nnpc business operations are managed through strategic business and corporate services units sbuscsus in diverse locations across nigeria. The most publicised of all oil spills in nigeria occurred on january 17 1980 when a. 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. In relation to intermediate and large mergers, a premerger notification must be filed at. 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. Following the revoking of its charter, the the royal niger company sold its holdings to the british government for.
Impacts and management of oil spill pollution along the. Download free research project topics and materials in nigeria. Download undergraduate projects topics and materials accounting, economics, education. Total value of the mergers and acquisitions was put at. 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.