The challenges confronting the sector were identified, such as lack. Nigeria has the third largest fdi stock in africa,since the country remains africas largest producer of oil. Thisday the celebration of the world tourism day this year focused on sustainable tourism as a means of economic development. Yola municipality yola is the capital of adamawa state in the northeastern part of the country. 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. But then, following two upheavals, this turf was lost. Apr 23, 2017 against the backdrop of the deadly effects of climate change, it is important that nigeria mitigates these by letting people appreciate the reality and the need to practice mitigation and adaptation. This is especially so when mergers are regulatory imposed than business environment driven.
Nigeria being in the coastal areas is a centre for tourism due to the beaches. Effects of mergers and acquisitions on the economy. Yinka edu is a partner in the firms banking, finance. In nigeria, mergers and acquisitions were not so common until recently due to the economic down turn. May 15, 2015 in nigeria, series of events led to collapse of democratic institutions in 1966 and subsequently, a bitter civil war. In bauchi state is the 2,244 km2 yankari national park. Assessing the impacts of hospitality industry in enugu city. 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.
An attempt is made to quantitatively test the relationship between presence of transportation. The current economic climate in the country which is characterized by shortage of foreign exchange. Empirical analysis of financial contributions of tourism to. It has brought to the fore the need for soulsearching on the nigerian tourism space and the way forward for all stakeholders. 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. It is on this note that this paper examined the tourism industry and its impacts at the global level, the nigerian tourism and the. The study further revealed that while mergers and acquisitions can drive growth and profitability in some organizations, operating efficiency suffers at least in the shortterm in the post merger and acquisition corporate entity. Nigeria tourism in nigeria 70 exciting destinations. Nigeria has the third largest fdi stock in africa,since the country. 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.
Inventory of tourism in cross river state, nigeria, using. The study further revealed that while mergers and acquisitions can drive growth and profitability in some. Pursuant to the provisions of the isa, the key regulator for merger and acquisition is the securities and exchange commission sec rules. Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. Victor eruotor the economic importance of tourism in. Historical monuments, tropical forests, ancient sites, arts and events due to diverse ethnic groups in nigeria have contributed the the tourist centres in nigeria. Our tools allow individuals and organizations to discover, visualize, model, and present their data and. Knoema is the most comprehensive source of global decisionmaking data in the world. The countrys tourism potentials range from natural, man. 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. 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. The investigation reveals that globally, tourism has become a sustainable revenue earner competing favourably with the manufacturing sector, especially in the developed countries. Nigeria tourism master plan 1 nigeria tourism master plan executive summary 1. It houses a lot of natural warm water springs and it is the.
Government spending and national income nexus for nigeria. Strategic development and sustainability of tourism industry. So, for the sector to contribute to the wealth of the nation and the well. The topdown development strategies in africa in general and nigeria in particular have generally not succeeded inraising the living standards among the rural poor. 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. Umoren and olokoyo 2007 studied merger and acquisition in nigeria. The investigation reveals that globally, tourism has become a sustainable revenue earner. Nigeria s commitments in the tourism subsector were expected to benefit efficient suppliers of tourism services via i. The united nations world tourism organisation on sunday declared that tourism is the future of nigeria as it reiterated its readiness to support the country in developing the sector. The legal framework of merger and acquisition in nigeria. The objective of this report is to promote tourism develo pment in nigeria, and to identify the tourism potentials of nigeria. 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.
Caves once upon a time, study of the effects of mergers was clearly the province of specialists in industrial organization. Folake eliasadebowale is a corporate partner and head of the firms private equity and oil and gas teams. Diaspora policies, the nigeria government has adopted a broader understanding of diaspora for its application. Tourism attractions in nigeria include festivals and cultural celebrations, the national parks and. Nigeria has a privatized economy, low cost of labor, and abundant natural resources. 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 takes to be a tourists. The vision of the master brand is to build the premier online destination for authentic nigerian. It houses a lot of natural warm water springs and it is the one of west africas ecodestinations. Other attractions are historical monuments, exciting trips to tropical forests, exploring wildlife, visiting ancient sites and nigerias diverse art and culture. A brief history of the travel and tourism industry in nigeria. Nigeria strategy report q2 2017 outlook domestic economic. Nigerias commitments in the tourism subsector were expected to benefit efficient suppliers of tourism services via i. A tourism master plan is required to develop the sector.
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 decades. As tourism ministry in federal level is scrapped or merged published on august 18, 2016 august 18, 2016 14 likes 1 comments. Against the backdrop of the deadly effects of climate change, it is important that nigeria mitigates these by letting people appreciate the reality and the need to practice mitigation and. The effects of mergers and acquisition on corporate growth and profitability. Enugu state, nigeria 2humanities unit, school of general studies, university of nigeria, nsukka.
It is one of the populous cities of africa and is ranked. The principal law that governs the merger and acquisition in nigeria is the investment and securities act isa 2007. A comprehensive new framework for winning at mfrom upfront planning to postmerger integration the challenges of mergers and acquisitions can be. Pdf the role of transportation in the development of. Other attractions are historical monuments, exciting trips to tropical forests. African journal of hospitality, tourism and leisure vol. There is the usual temptation to reduce the meaning albeit incorrectly to. 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 20 414 5. This paper carries out an empirical investigation of the role of tourism in economic development in nigeria.
Pdf an appreciative merger and acquisition team coaching. In 2014 alone, nigeria recorded 24 mergers and acquisition, this was driven by the continued divestment by banks from noncore financial services following the repeal of the universal banking regime in 2010 by cbn, commercial banks were directed to divest from their nonbanking activities or adopt a holding company structure in the event that. Doc mergers and acquisitions in nigeria chukwuemeka. The effects of mergers and acquisition on corporate growth. Problem and prospect of tourism development in nigeria. Nigeria and climate change the guardian nigeria news. It is a unique field in the nigeria legal system, and this is connected to the limited expertise in this area. Enugu state, nigeria email of the corresponding author. Other problems include lack of detailed data on tourism issues, increase level of crime and terrorism, problem of inadequate funding, lack of infrastructure, low level of publicity and marketing, and the level of low disposable income. 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.
An overview of mergers and acquisitions under nigerian law omotayo akinrinwa abstract this essay seeks to explore the legal framework governing the operation or activities of mergers and acquisitions in nigeria. Nigeria is a presidential republic located in west africa. Pdf the south african hotel industry needs to improve its global. It has brought to the fore the need for soulsearching on the nigerian.
Laws that govern merger and acquisition in nigeria. Introduction the tourism sector in the federal republic of nigeria has been identified by the president of the federal republic, chief olusegun obasanjo gcfr, as one the six priority areas for development. Hrm issues and outcomes in african mergers and acquisitions. Law and practice of mergers and acquisition in nigeria by. Historical monuments, tropical forests, ancient sites, arts and events due to diverse ethnic groups in nigeria have contributed. The current economic climate in the country which is characterized by shortage of foreign exchange for the importation of goods, low exchange rate of the naira the credit policy. Success factors determining nigeria as a tourist destination.
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. National office for technology acquisition and promotion notap. The career prospects of tourism in nigeria emeka e. 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 multilateral trade. Other problems include lack of detailed data on tourism issues, increase level of crime and terrorism. Jacinta 2 1department of archaeology and tourism, university of nigeria, nsukka. 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. Market entry tourism and hotel industry in nigeria. In terms of spatial distribution the largest clusters of hotel chains occur in south africa, egypt, morocco and nigeria. Omolola itayemi reports far from a cliche, the world tourism organisation wto provides the most. For many entrepreneurs, a merger or an acquisition provides the ultimate. Tourism in nigeria nigeria is a coastal country and the main attraction for tourists is the pristine beaches and marine activities.
It is one of the populous cities of africa and is ranked at the seventh number amongst the list of the fastest most growing cities of the world. Results obtained from the analysis showed that there is a significant relationship between financial contributions of tourism sector to. Discover the latest travel and tourism news from around the world on guardian nigeria, including travel tips, travel safety and news on tourism industry. The tour nigeria brand is an ambitious, timely and visionary brand for promoting domestic tourism in nigeria. Pdf performance of mergers and acquisitions under corporate.
The price to pay for not building a nation can be very costly. 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 takes to be a tourists destination. So, for the sector to contribute to the wealth of the nation and the wellbeing of nigerians, the nigerian tourist association nta metamorphosed into nigeria tourist board. This paper examines the relationship between transportation and the development of tourism in nigeria. How to get to nigeria getting to nigeria is very easy, with several airlines serving the country from all over the world. Nigeria is the former capital city of nigeria which currently holds the designation of being the commercial capital of the country. Study area crossriver state is located within latitudes 40 15n and 70 00 n and longitudes 70 15e and 90 30 e. An overview of mergers and acquisitions under nigerian. 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. In nigeria, series of events led to collapse of democratic institutions in 1966 and subsequently, a bitter civil war. Government thus broadly conceives and recognizes diaspora on two levels. Introduction the tourism sector in the federal republic of nigeria has been identified by the.