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Trump, Biden Shake Hands In White House, Vow Smooth Transfer

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Donald Trump will make a triumphant return to the White House to meet President Joe Biden Wednesday, in the Republican’s first visit since departing under a torrent of scandal nearly four years ago.

Trump’s meeting with Biden comes as he moves swiftly to name his administration, including the world’s richest man Elon Musk as head of a new group aimed at slashing government spending.

Biden invited his sworn rival to meet in the Oval Office — despite the fact that 78-year-old Trump, who has consistently refused to admit his 2020 election loss, never afforded Biden the same courtesy.

Biden, 81, is expected to urge a smooth transition of power in the encounter at 11:00 am (1600 GMT) — and push for continued support for Ukraine.

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“He believes in the norms. He believes in our institutions,” White House Press Secretary Karine Jean-Pierre said Tuesday when asked why Biden was inviting Trump.

“The American people deserve this. They deserve a peaceful transfer of power.”

However, in a break with protocol, Trump’s wife Melania “will not be attending today’s meeting at the White House,” her office said on X.

National Security Advisor Jake Sullivan said Biden would go over top foreign policy issues when he meets Trump — including US support for Ukraine against Russia, which Trump has indicated he will end.

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The meeting may be a bitter pill to swallow for Biden, who branded Trump a threat to democracy.

The Republican leader of the House, Speaker Mike Johnson, said Trump may also visit the US Capitol, which a mob of his supporters stormed in 2021 to try to reverse his election loss.

Trump’s party looks set to take both chambers of Congress and consolidate his extraordinary comeback.

Tradition restored

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Biden’s Oval Office invitation restores a presidential transition tradition that Trump tore up when he lost the 2020 election, refusing to sit down with Biden or even attend the inauguration.

Then-president Barack Obama had welcomed Trump to the White House when the tycoon won the 2016 election.

But by the time Trump took his last Marine One flight from the White House lawn on January 20, 2021, he had also been repudiated by many in his own party for having stoked the assault on the Capitol.

That period of disgrace soon evaporated, however, as Republicans returned to Trump’s side, recognizing his unique electoral power at the head of his right-wing movement.

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Trump enters his second term with a near total grip on his party and the Democrats in disarray.

He has spent the week since the election at his Mar-a-Lago resort in Florida assembling his top team, as the world watches to see how closely he sticks to his pledges of isolationism, mass deportations and sweeping tariffs.

Trump named Space X, Tesla and X boss Musk, and another ally, businessman Vivek Ramaswamy, to lead a “Department of Government Efficiency (‘DOGE’)” — a tongue-in-cheek reference to an internet meme and cryptocurrency.

Musk’s out-sized influence within the Trump camp was underlined by multiple US media reports that the entrepreneur was accompanying the incoming president to his meetings with the Republican Party on Wednesday.

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Trump is moving quickly to fill out his administration, picking a host of ultra-loyalists.

Trump nominated Fox News host and army veteran Pete Hegseth as his incoming defense secretary. An outspoken opponent of so-called “woke” ideology in the armed forces, Hegseth has little experience similar to managing the mammoth US military budget and bureaucracy.

Trump named South Dakota Governor Kristi Noem — an ally who famously wrote about shooting her dog because it did not respond to training — as head of the Department of Homeland Security.

Florida Senator Marco Rubio is tipped for secretary of state, US media reported, while Trump has also confirmed Congressman Mike Waltz, a former special forces officer, as his national security advisor.

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John Ratcliffe, another figure who became prominent for defending Trump during his scandal-plagued first term, was named to head the CIA.

AFP

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Brain Drain, Infrastructure, Resource Allocation Challenges Of Health Sector – Reps

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By Gloria Ikibah
The House of Representatives has highlighted the detrimental impact of the mass migration of health workers from Nigeria, describing it as a major challenge to the country’s healthcare system.
The Chairman, House Committee on Health Institutions,  Rep. Amos Magaji, stated this during a public hearing on 16 bills aimed at establishing various health institutions, on Thursday in Abuja.
Rep. Magaji underscored the need for better distribution of healthcare facilities, particularly in rural areas, to address population growth and healthcare gaps.
He noted, “Recently, there has been an enormous migration of doctors, nurses, and other health workers in search of ‘greener pastures,’ leaving Nigeria’s health sector severely understaffed. To improve the sector, we must invest in human resources, medical intelligence, and the administrative appointment of capable persons based on merit.”
The Chairman also brought to light the infrastructural deficiencies in healthcare institutions across the country, citing inadequate funding, lack of maintenance, and insufficient equipment as recurring issues.
The Minister of Health, Prof. Mohammed Ali Pate, represented by Dr. Jimoh Olawale Salahudeen, in his submission warned against the duplication of health institutions, and stated that such efforts would strain the already scarce resources.
He explained, “Existing Federal Teaching Hospitals and Medical Centers in Nigeria, including those in the North West, already provide cardiovascular care and related services. Establishing a new institute would add financial burden without addressing the core issues.”
Pate also acknowledged the migration of health workers and the need for a stronger workforce to handle emerging health challenges.
“The Federal Ministry of Health supports the establishment of new institutions but insists on considering geographical spread, population density, and disease burden in proposed locations,” he added.
The hearing emphasised the need for balanced development in the healthcare sector, adequate funding for existing institutions, and policies to retain health professionals in Nigeria.
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Access Bank (UK) Limited to Acquire AfrAsia Bank Limited

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By Gloria Ikibah
Access Holdings PLC has announced that its subsidiary, The Access Bank UK Limited (“Access UK”), has signed a binding agreement to acquire a majority stake in AfrAsia Bank Limited, the third-largest bank in Mauritius by total assets.
Mauritius, known for its strong financial sector, which contributes 13.4 per cent to its GDP, offers Access UK a strategic base to grow its personal and corporate banking services.
This was contained in a statement by its Company Secretary, Sunday Ekwochi, made available to Naijablitznews.com on Thursday.
According to Ekwochi, the acquisition will also position Mauritius as a hub for Access Bank’s trade finance operations, enhancing its ability to manage cross-border transactions across Africa and internationally.
AfrAsia Bank, as of June 30, 2024, reported total assets of over $5.7 billion and a net profit after tax of $152.4 million, underlining its solid financial position.
**Key statements on the acquisition:**
– Managing Director/CEO of Access Bank Plc, Roosevelt Ogbonna, speaking on the acquisition said:  “This acquisition is a crucial step in our African growth strategy, strengthening our position as a top Pan-African financial institution. Mauritius’ role as a financial hub aligns with our vision to unlock opportunities that drive trade, support businesses, and promote economic inclusion across the region.”
Also Managing Director of Access Bank UK, Jamie Simmonds, stated: “AfrAsia Bank’s strong balance sheet and established brand in Mauritius give us a solid platform for sustainable growth. This deal supports our strategy to diversify earnings and provide clients with seamless access to global markets.”
Access Bank UK aims to promote sustainable growth, deliver innovative financial solutions, and support trade between Africa and the world.
The acquisition process will be finalized in the coming months, with updates provided as needed.
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FEC approves ₦47.9tn 2025 budget

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By Kayode Sanni-Arewa

The Federal Executive Council, FEC, has approved a proposed national budget of ₦47.9 trillion for the 2025 fiscal year.

Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this on Thursday while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu.

This was part of the Medium-Term Expenditures Framework, MTEF, for 2025 to 2027 and in line with the Fiscal Responsibility Act of 2007.

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“And equally, the fiscal objectives were conservative, because we want to ensure that we study the course much as we believe the projections will be exceeded.

“The budget size that was approved for presentation to the National Assembly in the MTEP is ₦47.9 trillion, with new borrowings of ₦9.2 trillion to finance the budget deficit in 2025,” Bagudu said.

“We need to sustain the market deregulation, commendable market deregulation of petroleum prices and exchange rate, and to compel the Nigerian National Petroleum Corporation Limited to lower its oil and gas production cost significantly, and even to consider the need to amend the relevant sections of the petroleum industry act 2021 to address the significant risk to Federation.

“The Federal Executive Council approved the Medium Term Expenditure Framework and the physical strategy paper, and it will be submitted to the National Assembly.

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“This is in addition to bills that are already at the National Assembly, the economic stabilization bills and tax reform bills, which we believe we will have a very, very strong growth in 2025.”

During the meeting, the FEC approved its submission to the National Assembly as required by the 2007 Fiscal Responsibility Act.

The framework projected a gross domestic product (GDP) growth rate of 4.6 percent, an exchange rate of $75 to the naira, and oil production of 2.06 million barrels per day. [Channels TV]

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