Newsweek International 4/2-4/9/2021

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Newsweek UK Ltd
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1 minutos
the archives

RON MEYERSON Talented cover designer Ron Meyerson, who worked at Newsweek from 1972 to 1992, passed away on March 7 of this year. Meyerson joined Newsweek’s staff as the cover art director, eventually held a senior editor position and over his career designed over 1,000 covers for the magazine. He made incredible contributions to Newsweek’s coverage of the Watergate scandal, and in 2005, the Society of Magazine Editors selected Meyer-son’s 1973 “The Nixon Tapes” cover—with the White House depicted as a reel-to-reel tape recorder—as one of the 40 best covers designed in America.…

2 minutos
nigeria - bouncing back

Africa’s most-populous country and largest economy is ready for a rebound. With its huge youth population and powerhouse oil and gas industry, Nigeria has dominated the continent’s economic growth story for decades. The Covid-19 pandemic exacerbated an ongoing oil slump, and Nigeria’s economy was not immune to the global malaise that struck last year. But economic rebound is forecast in 2021, as global oil demand recovers and the country moves forward on a host of ambitious reforms aimed at attracting new investment in key non-oil sectors. President Muhammad Buhari is playing a critical role in maintaining stability and supporting the country’s spring-boarding from natural resource giant to diversified export base. Elected in 2015, Buhari has sought to promote Nigeria as the investment destination of choice since his earliest days in power,…

2 minutos
cakasa - epc partner of choice

Nigeria is “West Africa’s unrivalled economic powerhouse”, and ongoing reforms are unleashing its huge potential, according to a 2018 report by professional services company Deloitte. The report highlighted the strength with which the Nigerian economy rebounded from the 2015-16 slowdown, with foreign direct investment soaring to €17bn in 2017. Following the covid-19 pandemic, Nigeria it is well-placed for a resurgence – with the oil and gas industry again a key economic driver. The sector accounts for around 10% of GDP, and petroleum export revenues alone account for 86% of total export earnings, according to OPEC. It is also a major driver of foreign investment, and for nearly fi ve decades, international investors have sought out EPC leader Cakasa as a partner in the Nigerian hydrocarbon industry. Founded in 1974, the company…

3 minutos
9mobile the next stage

The largest economy and most populous country in Africa, Nigeria is an emerging-market giant. It is also in a good position to recover strongly from the covid-19 pandemic and continue to attract global investment, as ratings agency Fitch noted in a September 2020 report. Fitch noted the government’s “firm commitment” to reform, low government debt-to-GDP ratio, low foreign currency indebtedness, and “ample liquidity in the non-banking financial system”. The agency also expects the country to benefit from rising hydrocarbon export revenues in the coming years. Telecoms is one of the fastest- growing sectors of Nigeria’s economy, expanding 18.8% year-on-year in the second quarter of 2020 alone, despite the economic impact of the pandemic, according to the National Bureau of Statistics. The sector is worth around $75bn – almost 15% of overall…

3 minutos
federal inland revenue service digital service optimization

Often overlooked and sometimes underrated, government tax authorities have a tough lot in life. But in Nigeria at least, the Federal Inland Revenue Service (FIRS) is playing critical role in supporting economic growth by digitizing services, diversifying the federal tax base, and perhaps most importantly, incentivizing priority sectors to attract new foreign direct investment (FDI). The work isn’t always easy. However, with oil demand and macroeconomic growth set to rebound this year, FIRS’ ongoing efforts to make tax payments quick, painless, and less expensive will help keep Nigeria’s economic recovery on track. The FIRS is a federal agency responsible for assessing, collecting and accounting for taxes and other revenues accruing to the Federation. Its history dates back to 1943, when it was established to replace the Inland Revenue Department of British…

3 minutos
ogfza unlocking nigeria’s investment potential

Nigeria’s oil and gas industry is ready for a rebound in 2021. While the country has been forced to grapple with massive economic shocks brought on by the pandemic, its oil and gas sector is poised to recover this year as vaccination campaigns advance and life returns to normal. The upcoming Petroleum Industry Bill will incentivize investment in the sector, while a new marginal fields licensing round is in the works, leaving the Oil and Gas Free Zones Authority (OGFZA) on the cusp of a sustained period of renewed growth. Established in 1996, OGFZA is a national regulatory agency tasked with overseeing the country’s network of oil and gas free trade zones. The authority’s first free zone opened in Onne, Rivers State in 2001. The authority’s free zone model, which hinges…