What was the purpose of the Royal Niger Company?

In 1886 the company received a charter of incorporation as the Royal Niger Company and was authorized to administer the Niger delta and the country on the banks of the Niger and Benue rivers.

What product did the Royal Niger Company control?

The charter authorized the company to administer the Niger Delta and all lands around the banks of the Benue and Niger Rivers. Soon after, the company was again renamed. The new name was “Royal Niger Company,” which survives, as Unilever, till this day.

How did the Royal Niger Company secure its interests?

The Royal Niger Company’s imperial activities were of two types. First, it made treaties with native chieftains. … cede to the Royal Niger Company, for ever, the whole of our territory,” in exchange for the RNC’s promises to “to protect the said Chiefs” and pay monetary compensation for the RNC’s use of their land.

Was Nigeria sold to the British?

Following the revoking of its charter, the Royal Niger Company sold its holdings to the British government for £865,000 (£108 million today). That amount, £46,407,250 (NGN 50,386,455,032,400, at today’s exchange rate) was effectively the price Britain paid, to buy the territory which was to become known as Nigeria.

IT IS INTERESTING:  How can I live and work in Mauritius?

When was the Royal Niger Company established?

The Royal Niger Company was formed in 1886 after British merchant George T. Goldie organised the already active United Africa Company and in effect took personal control of the Lower Niger River.

Who owns the Royal Niger Company?

In 1929 the company became part of the United Africa Company, which came under the control of Unilever in the 1930s and continued to exist as a subsidiary of Unilever until 1987, when it was absorbed into the parent company.

What resources did Nigeria have that Britain wanted?

The British targeted Nigeria because of its resources. The British wanted products like palm oil and palm kernel and export trade in tin, cotton, cocoa, groundnuts, palm oil and so on (Graham, 2009).

Did Unilever sell Nigeria?

In compliance with the indigenisation decree of 1972, Unilever became a publicly listed company in 1973, selling 60% of its shares to the Nigerian public.

Which company ruled Nigeria territory between 1886 and 1900?

The Royal Niger Company was a British chartered company, active from 1886 through 1899 in the territory bordering the Niger and Benue Rivers in contemporary Nigeria, that parlayed its administrative powers into a successful commercial monopoly.

What year was Nigeria sold and how much?

How Nigeria was sold to the British for 1.1 million dollars in 1899. It all began with what many would describe as the first oil war, which was fought in the 19th century in the area that would later become Nigeria.

Who sold Nigeria to the British?

The Royal Niger Company sold its territory (Nigeria) to the British government for £865,000. In 1914, the Southern protectorate and Northern protectorate were amalgamated by Lord Lugard. Royal Niger Company changed its name to The Niger Company Ltd.

IT IS INTERESTING:  What are the 13 public universities in Ghana?

Who found Nigeria?

On January 1, 1914, Lord Frederick Lugard, the governor of both the Northern Nigeria Protectorate and the Colony and Protectorate of Southern Nigeria, signed a document consolidating the two, thereby creating the Colony and Protectorate of Nigeria.

Who brought English to Nigeria?

The use of the English language in Nigeria dates back to the late sixteenth and early seventeenth century when British merchants and Christian missionaries settled in the coastal towns called Badagry, near Lagos in the present day South Western Nigeria and Calabar, a town in the present day South Eastern Nigeria.

What did Goldie do in 1881?

In 1881, Goldie sought a charter from Gladstone’s government. Objections of various kinds were raised. To meet them the capital of the company (renamed the National African Company) was increased from £250,000 to £1,000,000, and great energy was displayed in founding stations on the Niger.

Hai Afrika!