Often asked: How Can Nigeria Be Restructured?

What is the concept of restructuring?

Restructuring is when a company makes significant changes to its financial or operational structure, typically while under financial duress. Companies may also restructure when preparing for a sale, buyout, merger, change in overall goals, or transfer of ownership.

What is Nigeria structure?

The federal government of Nigeria is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the Constitution of Nigeria in the National Assembly, the President, and the federal courts, including the Supreme Court, respectively.

What is federation in Nigeria?

The Federation of Nigeria was a predecessor to modern-day Nigeria from 1954 to 1963. It was an autonomous region until independence on 1 October 1960. British rule of Colonial Nigeria ended in 1960, when the Nigeria Independence Act 1960 made the federation an independent sovereign state.

What are the reasons for restructuring?

Common Reasons For Business Restructure

  • Downsizing in line with the economic climate, market changes or falling demand.
  • Relocating your business, such as moving the location of a production process or an entire office.
  • Changes in management, such as the exit of a director.
  • Gearing for an Exit.
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What are the types of restructuring?

The following are common types of restructuring.

  • Mergers & Acquisitions. Integrating the administration, operations, technology and/or products of two firms.
  • Legal. Changing the legal structure of a firm such as ownership structure.
  • Financial.
  • Turnaround.
  • Repositioning.
  • Cost Restructuring.
  • Divestment.
  • Spin-off.

What are 3 tiers of government?

The three tiers of government are: the federal, state and local governments. These tiers of government are known/identified with a federal system of government. Their powers are determined by the constitution which spells out their powers and functions.

Who is in power in Nigeria?

President of Nigeria

President of the Federal Republic of Nigeria
Incumbent Muhammadu Buhari since May 29, 2015
Executive Branch of the Federal Government
Style Mr. President His Excellency
Member of Federal Executive Council National Security Council

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Who is the father of federalism in Nigeria?

Bernard Bourdillon the Governor-general at that time initiated and laid the foundation of federalism in Nigeria in 1939 by creating three provinces. He later handed over the constitution to his successor Arthur Richards and it became the Richards Constitution of 1946.

What are the two types of federation?

There are two types of federations, ‘coming together federations ‘ and ‘holding together federations ‘.

Who divided Nigeria into 12 states?

General Yakubu Gowon was head of state of Nigeria from August 1966 to July 1975. He reorganized the four regions into twelve states in May 1967.

What are the effects of restructuring?

Theoretically, restructuring leads to a more efficient and modernized entity, however it may lead as well to the deletion of jobs and the layoff of personnel. The procedure of restructuring generally focuses on problems with financing debt and very often, involves selling portions of the company to investors.

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How does restructuring affect employees?

Prof Nielsen said: “The characteristics of the restructuring process, such as fairness of procedures, communication and change management in general have been found to have an impact on worker well-being. Some groups of workers react less negatively, for example if they have more chance of influencing the process.

What are the problems with restructuring?

Restructuring often causes employees to panic and wonder how the changes will affect their job security. When the news gets out that the company is restructuring, some employees may begin looking for new employment. The stress of the restructuring sometimes takes away from the staff’s focus on their actual work.

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