Our tools allow individuals and organizations to discover, visualize, model, and present their data and the worlds data to facilitate better decisions and better outcomes. Strategic development and sustainability of tourism industry in nigeria year 2014 pages 49 nigeria is a rich country when it comes to tourism because, the country is endowed with all it. Our tools allow individuals and organizations to discover, visualize, model, and present. The legal framework of merger and acquisition in nigeria. Onah fnipr, fnimn 1department of marketing university of nigeria enugu campus 2department of. It is on this note that this paper examined the tourism industry and its impacts at the global level, the nigerian tourism and the numerous tourism resources therein. Africa, mostly in resources primarily in nigeria, south africa, angola and mozambique. Major tourist centres in nigeria tourism is relatively a budding enterprise in nigeria but owing to nigeria s potentials, it has undergone a gradual but progressive evolution in the past three decades. An overview of mergers and acquisitions under nigerian. Visitor management system streamlines visitor enrollment and increases the safety of your facility by cross referencing visitors against felony databases. In most developed and developing nations of the world, tourism is a major source of employment, gross domestic product gdp or national income, income to the tourism promoters and the tourism destination pointscommunities and a catalyst for socioeconomic development of the communities concerned through social infrastructural amenities like electricity, water supply, communication. Nigerias commitments in the tourism subsector were expected to benefit efficient suppliers of tourism services via i.
The corporation said the acquisition of enterprise bank, which represents a landmark transaction in the nigerian banking sector, was completed after the entire issued and fullypaidup ordinary. In nigeria, merger and acquisitions remain few and unpopular. Strategic development and sustainability of tourism. The city has a population of 722,664 according to the 2006 nigerian census and a projected population of 4,061,808 in 20 33. The tour nigeria brand is an ambitious, timely and visionary brand for promoting domestic tourism in nigeria. Onah fnipr, fnimn 1department of marketing university of nigeria enugu campus 2department of marketing university of nigeria enugu campus abstract. Assessing the impacts of hospitality industry in enugu. The result of such a security warning poses a great challenge to tourism development in nigeria.
Historical monuments, tropical forests, ancient sites, arts and events due to diverse ethnic groups in nigeria have contributed the the tourist centres in nigeria. This paper examined the mega banks by evaluating their performance four years after the consolidation exercise in nigeria. Tourism destination competitiveness depends on a viable recreation and hospitality facilities that often represent the destination products. Hrm issues and outcomes in african mergers and acquisitions. Nigeria being in the coastal areas is a centre for tourism due to the beaches. In terms of spatial distribution the largest clusters of hotel chains occur in south africa, egypt, morocco and nigeria. Nigeria tourism master plan 1 nigeria tourism master plan executive summary 1. How to get to nigeria getting to nigeria is very easy, with several airlines serving the country from all over the world. To do this, pre merger and post merger financial statements of two. Assessing the impacts of hospitality industry in enugu city. 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. A comprehensive new framework for winning at mfrom upfront planning to postmerger integration the challenges of mergers and acquisitions can be. The study was designed to examine mergers and acquisitions in the banking industry in nigeria. Obasanjo seeks merger of mdas in states the guardian.
The vision of the master brand is to build the premier online destination for. Tourism is the activity of people traveling to and staying in places outside their usual environment for leisure, business. Umoren and olokoyo 2007 studied merger and acquisition in nigeria. The effects of mergers and acquisition on corporate growth and profitability. 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. The united nations world tourism organisation unwto has declared tourism as the future of nigeria as the nation hosts the 61st unwto commission for africa caf. Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. Inventory of tourism in cross river state, nigeria, using. The topdown development strategies in africa in general and nigeria in particular have generally not succeeded inraising the living standards among the rural poor. Some short distance away from the nigeriacameroon border is the very captivating sight called agbokim waterfalls. The changes brought about by the tax reform act of 1986 are the most significant to occur in more than 25 years.
Banking, aviation, power, oil and gas, insurance, and manufacturing. A striking difference between mergers and acquisitions is that acquisition features disinvestment of shareholders as the acquiring company takes over the shares of the target company, but in a merger. Inventory of tourism in cross river state, nigeria, using geographical information system gis fig working week 20 environment for sustainability abuja, nigeria, 6 10 may 20 214. It is a unique field in the nigeria legal system, and this is connected to the limited expertise in this area. Nigeria believes that its environment, natural and cultural resources focused will result in superior returns even in a price sensitive market.
As tourism ministry in federal level is scrapped or merged published on august 18, 2016 august 18, 2016 14 likes 1 comments. Hence, the paper concludes that for sustainable national development. The objective of this report is to promote tourism develo pment in nigeria, and to identify the tourism potentials of nigeria. This pdf is a selection from an outofprint volume from the national.
Victor eruotor the economic importance of tourism in. This pdf is a selection from an outofprint volume from the national bureau. Knoema is the most comprehensive source of global decisionmaking data in the world. Inventory of tourism in cross river state, nigeria, using geographical information system gis fig working week 20 environment for sustainability abuja, nigeria, 6 10 may 20 214 network analysis, and spatial search operation. Visitor management system in nigeria technology market. Assessing tourism potentials for rebranding nigeria. So, for the sector to contribute to the wealth of the nation. Because of these changes, buyers and sellers must carefully negotiate any mergers or acquisitions to ensure each partys tax status remains intact. Statutory requirement under companies income tax act cita the cita in section 2912 cap 21, lfn, 2004 provides that no merger, takeover, transfer or restructuring of the trade or business. Nigeria is the former capital city of nigeria which currently holds the designation of being the commercial capital of the country.
Statutory requirement under companies income tax act cita the cita in section 2912 cap 21, lfn, 2004 provides that no merger, takeover, transfer or restructuring of the trade or. Pdf merger and acquisition as survival and sustainable. Problem and prospect of tourism development in nigeria. The challenges confronting the sector were identified, such as lack. Jun 03, 2018 the united nations world tourism organisation unwto has declared tourism as the future of nigeria as the nation hosts the 61st unwto commission for africa caf conference. The main aim of this report is to assess the importance of tourism in nigeria and suggest more ideals in the development of the tourism sector in nigeria so as to make a significant. Doc mergers and acquisitions in nigeria chukwuemeka. African journal of hospitality, tourism and leisure vol. The need to carry out this study arose from the challenges faced by nigerian banks despite the.
The world tourism organization wto ranks tourism as one of the top 5 export resource for 83% of. Assessing tourism potentials for rebranding nigeria 1charles e. What are the tax implications of mergers and acquisitions. The study assessed the impact of hospitality industry. Laws that govern merger and acquisition in nigeria the principal law that governs the merger and acquisition in nigeria is the investment and securities act isa 2007. These included the merger of diamond bank and access bank plc and the acquisition by polaris bank limited of skye bank plc, a nigeriabased retail bank. Obasanjo seeks merger of mdas in states nigeria and world news. Introduction the tourism sector in the federal republic of nigeria has been identified by.
The earliest known merger and acquisition that occurred in nigeria was in 1926 between west african soap company ltd and. The consent of the board of the federal inland revenue service must be obtained for every merger and asset transfer in nigeria. Pursuant to the provisions of the isa, the key regulator for merger and acquisition is the securities and exchange commission sec rules. Other problems include lack of detailed data on tourism issues, increase level of crime and. Tourism in nigeria centers largely on events, due to the countrys ample amount of ethnic groups, but also includes rain forests, savannah, waterfalls, and other natural attractions. An assessment of land acquisition in nigeria fig working week 2012 knowing to manage the territory, protect the environment, evaluate the cultural heritage rome, italy, 610 may 2012. Establishment of the nigerian tourism development corporation 1 there is hereby established, a corporation to be known as the nigerian tourism development corporation in. Nigeria tourism in nigeria 70 exciting destinations.
The investigation reveals that globally, tourism has become a sustainable revenue. Nigeria made some farreaching commitments in the tourism and travelrelated ser vices subsector in the general agreement on trade in services gats signed at the end of the. The implication of this provision is that the approval of the federal inland revenue service firs is a necessary condition for the completion of the process in a merger or acquisition bid. Since then there have been increased discussion and awareness on merger and acquisitions in nigeria. The changes brought about by the tax reform act of 1986 are the most significant to occur in more than 25. The falls situated in cross river state lies less than 30km from ikom and. The vision of the master brand is to build the premier online destination for authentic nigerian content, using technology, creativity, arts and culture to push the new national agenda. The investigation reveals that globally, tourism has become a sustainable revenue earner competing favourably with the manufacturing sector, especially in the developed countries. The main aim of this report is to assess the importance of tourism in nigeria and suggest more ideals in the development of the tourism sector in nigeria so as to make a significant contribution to the economy. This paper evaluates the impact of mergers and acquisitions on performance of banks in nigeria. The adoption of merger and acquisition offers many benefits to the companies which includes management expertise, risk diversification, stock exchange quotation, increase market share, desire for growth, technological drive, profit. Pdf the south african hotel industry needs to improve its global.
Establishment of the nigerian tourism development corporation 1 there is hereby established, a corporation to be known as the nigerian tourism development corporation in this act referred to as the corporation. 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. More so, every year substantial percentage of the world population travel on. The sectors affected by mergers and acquisitions include. Major tourist centres in nigeria tourism is relatively a budding enterprise in nigeria but owing to nigerias potentials, it has undergone a gradual but progressive evolution in the past three. As tourism ministry in federal level is scrapped or merged published on august 18, 2016 august 18, 2016 14 likes 1. An assessment of land acquisition in nigeria olawale ojikutu, nigeria.
Gateway cities are abuja, lagos, port harcourt, calabar and kano if you come by air. Government spending and national income nexus for nigeria. Nigeria does not resume from lack of competent personnel or the absence of adequate financial resources, rather it is more associated with dishonesty and the quest for personal gain on the. Jul 27, 2016 obasanjo seeks merger of mdas in states. Discover the latest travel and tourism news from around the world on guardian nigeria, including travel tips, travel safety and news on tourism industry. Enugu city is the capital of enugu state in nigeria and is located in the southeastern part of nigeria and is largely populated by the ibos, an ethnic group in nigeria. 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. The principal laws regulating mergers and acquisitions in nigeria is the investment and securities act, investment and securities rules, secrr, the companies and allied matters act cama and regulation 2012. See the the role of tourism in economic development in nigeria.
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