To take Africa as an example, Britain after the First World war had nine contiguous colonies in East, Central and Southern Africa, while France had seventeen in Northern, Western and Equatorial Africa. For an instrument that is executed overseas, the claim is made within 30 days of the execution. So in decline stage the company can find it difficult to sustain itself and therefore looks to diversify into the unrelated area of business. Nonetheless, Amalgamation of Nigeria led to the development of independence which was later granted in 1960. Duplicating facilities in accounting, purchasing, marketing, etc.
Amalgamation is done as a method of acquiring cash resources, eliminating competition, saving on taxes or influencing the economies of large-scale operations. Nigerians swarmed the streets rejoicing. Apart from these tax benefits are also available to amalgamating companies and the shareholders of the amalgamated companies. No thanks to ethnic consciousness among Nigerians. They call it glorious revolution. The articles of amalgamation must be the same as the articles of the amalgamating subsidiary corporation whose shares are not cancelled, except for the name, which can be different. Provincial and federal corporations can also amalgamate through an arrangement.
Aguiyi-Ironsi, the most senior military officer, and incidentally an easterner Igbo , who stepped in to restore order, became the head of state. Rational economic co-operation between them was bedevilled not by irredentism on the part of the inhabitants who had been unwillingly enclosed by the colonial frontiers, but of their colonial overloads. By the time he took up his appointment Girouard found that the two Nigerias had rival railway projects. In this guide, we'll outline the acquisition process from start to finish, the various types of acquirers strategic vs. We call on Nigeria to stop the military occupation of Ijaw nation. Through the process of amalgamation a completely new entity is formed to have combined assets and liabilities of both the companies.
But once out in Northern Nigeria, Lugard established a customs policy of his own. It was in the bid to offset the cost of the northern Nigeria that Lord Lugard who was the governor appointed a committee to recommend ways of running the almost barren north at a minimal or no cost to Britain. The owners may also wish to cash out to invest their money in something else, such as retirement!. If you remember, Sokoto was not conquered until 1903. But they are very shrewd. If smaller was ideal, would it make sense to break up Saanich into 10 smaller municipalities of 15,000 each? Synergy: Synergy refers to the greater combined value of merged firms than the sum of the values of individual units. The process of unification was undermined by the persistence of different regional perspectives on governance between the Northern and Southern Provinces, and by Nigerian nationalists in Lagos.
Furthermore, he considered these relatively populous towns essential as bases for the opening-up of the less populous non-Yoruba country to their north, known as Borgu, which was clearly part of his domain. By acquiring other companies a desired level of growth can be maintained by an enterprise. Geographical or other diversification: This is designed to smooth the earning results of a company, which over the long term smoothens the stock price of the company giving conservative investors more confidence in investing in the company. Then we continued holding our meetings. And his dispatches to London between that time and January 1914 are extremely interesting. His appointment was a temporary one and had been made with a view to bringing some rationale into plans to join up the Lagos line with the Northern line.
Each municipality does its own planning without regard to municipal neighbours. So, there was no question of Nigeria at that time. Everything lord Lugard did was for his country; remember Nigeria was not independent as at then. The was later added in 1906, and the territory was officially renamed the Colony and Protectorate of Southern Nigeria. After nearly a year of thorough field work, Lugard submitted his detailed proposal for Amalgamation on May 9 th, 1913.
Trophy icon Ended The American Entrepreneur is a new television program that. Southerners, on their part, were not eager to embrace the extension of legislation originally meant for the north to the south. Unless you know this background, you will not know the root causes of our problems. Amalgamation might not save money but may rationalize services, provide better value and improve effectiveness. Sir Frederick Lugard first thought about merging the different parts of the country ten years before he became the Governor-General of the country. For reconstruction, the owner retains at least 90% of the assets directly or indirectly after the transfer.
When Egerton became Governor of Lagos he enthusiastically endorsed the extension of the — railway onward to , and the project was approved in November 1904. The companies may combine for diversification of activities or expansion of services. Duplicating facilities in accounting, purchasing, marketing, etc. And I remained in Parliament until January 15, 1966 when the Government was overthrown. Yet, within a short space of time, their respective colonial administrations had imposed on them a separate, albeit British-derived identity, in terms of differing legal systems, administrative organisation and patterns of economic development.
This is the practice the whole world. Frequently, companies have multiple reasons for combining. For eg: merging of different businesses like manufacturing of cement products, fertilizer products, electronic products, insurance investment and advertising agencies. The history of Nigeria between 1960 and 1967, when the civil war finally broke out, is a testimony. On January 1, 1914, northern and southern Nigeria were amalgamated into one country and named the colony and protectorate of Nigeria. There are two types of short-form amalgamation.