News
Biden pushes $6 trillion budget to ‘reimagine’ US economy, beat China
President Joe Biden on Friday proposed a $6 trillion budget to “reimagine” the US economy and stave off Chinese competition, though driving the United States into record debt — and with Congress first needing to give approval.
Announcing the proposed spending, Biden said a post-pandemic United States “cannot afford to simply return to the way things were before.”
“We must seize the moment to reimagine and rebuild a new American economy,” he said.
The president’s annual budget is more a wish list or a message on his priorities than anything else. Congress ultimately decides what money goes where and the current Congress has only the narrowest Democratic majority.
Opposition Republicans are leery of any big new role for the central government. Even some of Biden’s supporters warn that an economy already set to roar back from the Covid-19 shutdown risks getting swept up into an inflationary spiral.
But the massive plan signals the White House’s determination to put hard numbers on Biden’s campaign to rethink the relationship between government and business in what he says is an existential contest with China.
Under the Biden blueprint, the federal spigot would unleash $6.011 trillion in 2022, with increases gradually rising to $8.2 trillion in 2031. Debt as a percentage of annual GDP would be expected to quickly surpass the level seen at the end of World War II.
The Democrat made clear where the lion’s share of that expected $6 trillion price tag should go.
One huge chunk would be an infrastructure bill originally proposed at $2.3 trillion but since whittled down to $1.7 trillion in negotiations with Congress.
Another $1.8 trillion would go on increased state-funded education and social services — all, Biden argues, part of building a better 21st century workforce.
The overall aim, Biden said, is to grow the US middle class, while positioning “the United States to out-compete our rivals.”
Can it pass?
The budget proposal is being unveiled just ahead of the long Memorial Day weekend and with Congress heading out on a week’s recess.
The timing may dampen the immediate furor on Capitol Hill where many Democrats want Biden to use his control of Congress to push transformational legislation but Republicans are playing hardball in trying to block most of what the president proposes.
Spending priorities are just one area of division.
For example, Republicans are pretty much unanimous in opposing Biden’s broad definition of infrastructure to include green energy and social programs
But there’s even less agreement on how to pay for it.
Biden wants to raise money by ending a corporate tax cut Republicans passed under his predecessor Donald Trump. He also wants to go aggressively after tax loopholes used by the ultra-wealthy and large corporations.
Republicans refuse to accept this and say their own, more modest, infrastructure spending plans could be paid for by reallocating unspent money already budgeted.
Despite the standoff — and the sheer scale of Biden’s mega budget — the White House still has a potential ace up its sleeve in that slim Democratic majority.
Ordinarily, Biden needs at least 10 Republicans to cross over in the evenly split Senate, a tall order at the best of times.
However, if Democrats remain unanimous — which is also not guaranteed — they may be able to pass the budget through a fast-track procedure known as reconciliation.
News
IGP Steps In: FCID to Investigate Death of Man Detained Over N220,000 Debt
The Kwara State Police Command has confirmed the death of a 35-year-old man, Jimoh Abdulquadri, who passed away in police custody in the early hours of Friday.
Abdulquadri, who was arrested on December 19, 2024, reportedly died under controversial circumstances, with his family accusing police operatives of subjecting him to brutal treatment during his detention. Reports indicate that the deceased had been detained over an alleged debt of N220,000 owed to an individual identified as Peter.
In response to the incident, the Inspector-General of Police (IGP), Kayode Adeolu Egbetokun, has directed the Force Criminal Investigations Department (FCID) to immediately take over the case. A statement issued by the Force Public Relations Officer, ACP Olumuyiwa Adejobi, revealed that the IGP also visited Kwara State to meet with the bereaved family.
During the visit, the IGP was received by the Balogun Fulani of Ilorin, Alhaji Sadiq Atiku Fulani, who represented the family. The IGP expressed his condolences and assured them of a thorough investigation.
“The IGP expressed his profound condolences and assured the family that no stone would be left unturned in uncovering the circumstances that led to the tragic incident. He has ordered the FCID to handle the case with utmost diligence and ensure a conclusive and impartial investigation,” the statement read.
The IGP reiterated the Nigeria Police Force’s commitment to upholding accountability, professionalism, and respect for human rights. He further called on all stakeholders to remain calm and allow the due process of law to take its course.
News
FG Lifts Five-Year Ban on Mining in Zamfara, Eyes Economic Boost
The Federal Government has officially lifted the five-year ban on mining activities in Zamfara State, citing improved security and the potential for economic growth in the mineral-rich region.
The announcement was made on Sunday by the Minister of Solid Minerals Development, Dele Alake, through his representative, Segun Tomori, during a press briefing in Abuja.
“The Federal Government has lifted the ban on mining exploration activities in Zamfara State, citing significant improvements in the security situation across the state,” the minister said in a statement.
Security Gains and Economic Promise
The ban, imposed in 2019 due to escalating insecurity and illegal mining, was described by Alake as a necessary but temporary measure to protect lives and resources. However, he noted that the ban inadvertently created a vacuum exploited by illegal miners, leading to resource plundering.
Alake praised recent security advancements under the Tinubu administration, highlighting the neutralization of notorious bandit commanders and other strategic wins, including the capture of Halilu Sububu, one of the state’s most wanted criminals.
“The existential threat to lives and properties that led to the 2019 ban has abated. The security operatives’ giant strides have led to a notable reduction in the level of insecurity,” Alake said.
He added that with the restoration of mining activities, Zamfara’s mineral wealth—ranging from gold and lithium to copper—could now be harnessed under strict regulation to contribute significantly to national revenue.
Boosting Regulation and Combating Illegal Mining
The minister emphasized that lifting the ban would pave the way for better regulation and monitoring of mining activities. This, he said, would enable authorities to tackle illegal mining more effectively and ensure Nigeria benefits fully from Zamfara’s mineral resources.
“By reopening this sector, we are prioritizing not only revenue generation but also intelligence gathering to curb illegal mining,” he said.
Addressing Controversies
Alake also addressed concerns surrounding Nigeria’s recent Memorandum of Understanding (MOU) with France, which had sparked controversy. He clarified that the agreement focused solely on capacity building and technical support for the mining sector.
“The high point of the MOU is on training and capacity building for our mining professionals. Similar agreements have been signed with Germany and Australia. Misinformation about ceding control over our mineral resources is uncalled for,” Alake said.
Press as Partners in Progress
Commending the media for their role in promoting reforms in the mining sector, Alake urged continued collaboration to drive transparency and attract foreign investments.
News
NNPCL Refutes Shutdown Claims: Port Harcourt Refinery Fully Operational
The Nigerian National Petroleum Company Limited (NNPCL) has dismissed media reports suggesting that the recently resuscitated old Port Harcourt refinery has been shut down, labeling such claims as baseless and misleading.
In a statement issued in Abuja on Saturday, the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, clarified that the refinery, with a capacity of 60,000 barrels per day, is “fully operational.”
The facility resumed operations two months ago after years of inactivity.
“We wish to clarify that such reports are totally false, as the refinery is fully operational, as verified a few days ago by former Group Managing Directors of NNPC,” Soneye said.
He added that preparations for the day’s loading operation are currently underway, emphasizing that the public should disregard the claims.
“Members of the public are advised to discountenance such reports as they are the figments of the imagination of those who want to create artificial scarcity and rip off Nigerians,” Soneye stated.
The old Port Harcourt refinery is part of the country’s efforts to revive its local refining capacity. Three years ago, the Federal Government approved $1.5 billion to rehabilitate the plant, which was initially shut down in 2019 due to operational challenges.
Despite being one of the largest oil producers globally, Nigeria has long relied on fuel imports to meet its domestic needs, swapping crude oil for petrol and other refined products. This dependency, coupled with government subsidies, has strained the nation’s foreign exchange reserves.
The recent return of the Port Harcourt refinery to operation follows the commissioning of the Dangote refinery, which began petrol production in September 2024. These developments are expected to reduce Nigeria’s reliance on imports and address long-standing issues in the petroleum sector.
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