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GDP Rebasing Should Not Be Used To “Water Down” Nigeria’s Challenges – MAN DG

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The Director-General of the Manufacturers Association of Nigeria, Mr. Segun Ajayi-Kadir, has advised the Nigerian government against using the rebasing of the Gross Domestic Product calculation and other economic reforms to downplay the country’s economic challenges.

Mr. Ajayi-Kadir gave this counsel at a press briefing in Lagos on Wednesday.

Nairametrics reported that the National Bureau of Statistics has decided to revise Nigeria’s Gross Domestic Product calculation by adopting 2019 as the base year, replacing the previous base year of 2010.

This means that constant prices previously based on 2010 will now be based on 2019.

Answering questions on the position of MAN on the rebasing and the association’s expectations on how the new calculation may impact the manufacturing sector’s performance, Mr. Kadri said it is a welcome development.

However, he warned the government against using the recalculation to downplay the seriousness of the economic challenges facing Nigeria.

He also commented on the government’s decision to tax illicit trade, which will reflect in the GDP, and cautioned the government against giving the impression that it is legitimizing financial crimes.

“The Nigerian rebasing, some people have started to question the basis for rebasing. We are even told the government will begin to assess the informal areas, the illegal, the illicit – Smuggling, kidnapping, and so on.

“Well, I know that it’s a form of terrible economic activity, and money is expended, but how you are going to correctly adopt it, whether you are not legitimizing illegality and whether you’re not recognizing them becomes another issue. But I think there’s wisdom behind rebasing.

“The only thing you need to do is do it correctly and don’t weaponise it, don’t use it as a political tool to water down the enormity of the challenge of the country.”

We will collaborate with NBS to ensure correct assessment of GDP
The DG added that the association will collaborate with the Nigeria Bureau of Statistics to get sufficient data for better assessment of the GDP.

“For us, we are disposed to the correct assessment of the GDP.

“We will, of course, respect NBS, whatever they come up with, and if we have issues, we are going to engage them, because we are already having some collaboration with them. There is need for us to have data to better assess things,” he noted.

What you should know
The rebasing of the GDP has already been implemented by the NBS as reflected in its recent reports on GDP and inflation.

Nairametrics reported that the Real Estate sector emerged the third-largest sub-sector in Nigeria’s economy, up from 5th position, as a result of the GDP rebasing exercise

The rebasing exercise has rearranged the hierarchy of Nigeria’s leading industries. Although grain crop production and trade retain their positions as the largest and second-largest sectors, respectively, real estate displaced crude oil and natural gas to secure the third spot.

Air Sierra Leone Resumes Direct Flight To Nigeria 15 Years After

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Sierra Leone National carrier, Air Sierra Leone, has resumed its scheduled flight operations between Lagos and Freetown after over 15 years of inactiveness.

Air Sierra Leone returned to Nigeria in partnership with a Nigerian airline, XEJet.

While XEjet provides technical support to the airline, it also provides three operational aircraft for the airline to return to the country.

While speaking with journalists at the sideline of the inaugural flight ceremony, on Wednesday, at the Lagos airport, Air Sierra Leone General Manager, Edgard Lacle, expressed joy for the return of the airline to the country.

Lacle told journalists that the airline has secured permission to operate in the country three times weekly; on Mondays, Wednesdays, and Fridays. Promising that the schedule will be increased as the number of passengers increases.

For the inaugural flight to Lagos, the airline boss said its aircraft conveyed 36 passengers into the country.

He said, “The connection between Sierra Leone and Nigeria is strong, especially in terms of trade and we have a market and everybody is trying to part in that market.

“The trade is top, tourism is part of it and the connection between Sierra Leone and Nigeria.

“The partnership is a technical one and they provide aircraft. The aircraft suits the market and movement of passengers. The moment we see the market changes we will adjust.”

Also speaking the Chief Executive Officer of XEJET, Iza Emmanuel, describes the event as a rebirth of the Air Sierra Leo in Nigeria.
He added that the airline was created as a beacon of hope, progress, and resilience for Sierra Leone.

He said “After over 15 years, the Sierra Leonean flag again takes to the skies. To our dignitaries and guests from Sierra Leone and Nigeria, your presence here today is a testament to the strong bonds of friendship and cooperation that unite our nations.

It is also a reflection of the shared vision of growth, connectivity, and opportunity for our people. We are truly honored to have you join us in celebrating this remarkable milestone.”

Federal Judge Blocks Trump’s Birthright Citizenship Executive Order –

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A federal judge in Seattle has signed a temporary restraining order blocking President Donald Trump’s executive order on birthright citizenship.

U.S. District Judge John Coughenour on Thursday heard a request made by four Democratic-led states to issue a temporary restraining order against the executive order signed by Trump that purports to limit birthright citizenship to people who have at least one parent who is a United States citizen or permanent resident.

“I have been on the bench for over four decades,” said Judge Coughenour, who was nominated to the bench by President Ronald Reagan in 1981. “I can’t remember another case where the case presented is as clear as it is here. This is a blatantly unconstitutional order.”

“In your opinion, is this executive order constitutional?” he asked DOJ attorney Brett Shumate.

“Yes, we think it is,” Shumate said, drawing the judge’s rebuke.

“I have difficulty understanding how a member of the bar can state unequivocally that this is an unconstitutional order. It boggles my mind,” Coughenour said. “Where were the lawyers when this decision was being made?”

Trump’s executive order reinterpreting the 14th Amendment’s guarantee of birthright citizenship — long promised by Trump on the campaign trail — is expected to spark a lengthy legal challenge that could define the president’s sweeping immigration agenda.

Democratic attorneys general from 22 states and two cities have sued Trump over the executive order, and the president faces at least five separate lawsuits over the policy.

Thursday in Maryland, a federal judge held a pre-hearing conference by telephone in a challenge brought by two nonprofit groups and five pregnant undocumented women seeking to temporarily block the order from taking effect.

U.S. District Judge Deborah Boardman asked the DOJ if the child of parents who are subject to the executive order is born this afternoon in the United States, whether they would be a United States citizen.

“As I read the executive order, the answer is yes,” responded DOJ attorney Brad Rosenberg, who suggested that enforcement of the order will not begin until Feb. 19, based on Section 2(b) of the executive order, which directs agencies to stop issuing citizenship documents to newborns born 30 days after the order.

The DOJ argued that “any sort of temporary or emergency relief in the immediate short term is unnecessary and inappropriate,” saying that, based on their knowledge, agencies “haven’t taken any of the steps yet regarding enforcement of the order.”

But plaintiffs were not convinced by the DOJ that the executive order will not be applied immediately to newborns.

“We think the executive order is maybe less clear than Mr. Rosenberg has suggested,” plaintiff’s attorney Joseph Mead said.

DOJ attorneys subsequently acknowledged that they have not had an opportunity to consult with the agencies on whether they have taken any steps to enforce the order.

The judge scheduled a hearing on the matter for Feb. 5.

In Seattle, Judge Coughenour scheduled Thursday’s in-person hearing in the case brought by the attorneys general of Arizona, Oregon, Washington and Illinois. In a federal complaint filed on Tuesday, the four attorneys general argued that Trump’s policy would unlawfully strip at least 150,000 newborn children each year of citizenship entitled to them by federal law and the 14th Amendment.

“The Plaintiff States will also suffer irreparable harm because thousands of children will be born within their borders but denied full participation and opportunity in American society,” the lawsuit says. “Absent a temporary restraining order, children born in the Plaintiff States will soon be rendered undocumented, subject to removal or detention, and many stateless.”

The lawsuit argues that enforcement of Trump’s executive order would cause irreparable harm to the children born from undocumented parents by preventing them from enjoying their right to “full participation and opportunity in American society.”

“They will lose their right to vote, serve on juries, and run for certain offices,” the complaint says. “And they will be placed into lifelong positions of instability and insecurity as part of a new underclass in the United States.”

Lawyers for the Department of Justice, now under new leadership, opposed the request for a temporary restraining order in a court filing Wednesday.

Taking effect next month, Trump’s executive order seeks to reinterpret the 14th Amendment’s guarantee of birthright citizenship by arguing a child born in the United States to an undocumented mother cannot receive citizenship unless his or her father is a citizen or green card holder.

While most countries confer a child’s citizenship based on their parents, the United States and more than two dozen countries, including Canada and Mexico, follow the principle of jus soli or “right of the soil.”

Following the Civil War, the United States codified jus soli through the passage of the 14th Amendment, repudiating the Supreme Court’s finding in Dred Scott v. Sanford that African Americans were ineligible for citizenship.

“President Trump and the federal government now seek to impose a modern version of Dred Scott. But nothing in the Constitution grants the President, federal agencies, or anyone else authority to impose conditions on the grant of citizenship to individuals born in the United States,” the states’ lawsuit argued.

The Supreme Court further enshrined birthright citizenship in 1898 when it found that the San Francisco-born son of Chinese immigrants was an American citizen despite the Chinese Exclusion Act restricting immigration from China and prohibiting Chinese Americans from becoming naturalized citizens.

By seeking to end birthright citizenship, Trump’s executive order centers on the same phrase within the 14th Amendment — “subject to the jurisdiction thereof” — that the Supreme Court considered in 1898. Trump’s executive order argues that text of the 14th Amendment excludes children born of parents who are not “subject to the jurisdiction” of the United States, such as people who are unlawfully in the U.S.

While legal scholars have expressed skepticism about the legality of Trump’s executive order, the lawsuit could set the stage for a lengthy legal battle that ends up before the Supreme Court.

₦‎22bn Scandal: BDC Operator Reveals How Power Ministry Funds Were Siphoned

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In a jaw-dropping revelation at the ongoing trial of former Minister of Power, Saleh Mamman, a bureau de change (BDC) operator, Abdullahi Suleman, has exposed how over ₦22 billion was funneled through his accounts in a suspected money-laundering scheme. Eyes Of Lagos reports,

Mamman is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a 12-count charge of conspiracy and laundering ₦33.8 billion. The trial resumed on January 22, 2025, at the Federal High Court in Abuja, presided over by Justice James Omotosho.

BDC Operator’s Explosive Testimony
Taking the stand as the EFCC’s 8th witness (PW8), Suleman disclosed how he became a key player in the alleged diversion of funds from the Ministry of Power.

“In 2019, Alhaji Maina Goje approached me, asking for my account details to carry out transactions. He would send money into these accounts, and I would convert it to dollars for him or transfer it to other accounts,” Suleman testified.

The transactions, which reportedly lasted until 2024, amounted to more than ₦22 billion. Suleman revealed that Maina often worked with an intermediary known as “Yaro Minister,” who acted on behalf of Saleh Mamman, and a man named Mustapha Muhammed, allegedly tied to the Ministry of Housing.

Money Trail Exposed
Bank statements presented as Exhibit X revealed massive deposits into Suleman’s companies—Strong Field International Projects Limited, Mintedge Nigeria Limited, and Prymint Investment Limited. Some of the jaw-dropping transactions included:

₦285.9 million on May 24, 2021
₦278.2 million on May 26, 2021
₦320 million on January 1, 2021
₦184 million on June 18, 2021
₦178.3 million on July 14, 2021
₦75.4 million on August 5, 2021

Suleman admitted to receiving and facilitating these payments, which he said were directed by Goje and his associates.
The Bigger Picture

This testimony adds a critical layer to the EFCC’s case, which seeks to uncover the intricate web of financial misconduct linked to the former minister. The scale of these transactions has shocked many, highlighting the deep-rooted corruption that undermines Nigeria’s public institutions.

As the trial progresses, the nation eagerly awaits the next chapter in this unfolding scandal. Will justice prevail? Stay tuned for more updates!

Trump Orders Release Of Long-Secret Final Files On JFK, RFK, MLK Assassinations

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WASHINGTON — President Trump on Thursday ordered the declassification and release of long-secret files on the assassinations of President John F. Kennedy, his brother Robert F. Kennedy and civil rights leader Martin Luther King Jr.

Trump, 78, announced the actions in the Oval Office — after decades of speculation and conspiracy theories about each of the slayings.

President Kennedy was assassinated in November 1963 in Dallas — with Lee Harvey Oswald, the primary suspect, himself being shot dead two days later by Jack Ruby, spurring lasting debate about a possible conspiracy.

RFK was shot dead by Sirhan Sirhan, a Palestinian Christian, in June 1968 — shortly after winning California’s Democratic presidential contest.

King was fatally shot in April 1968 by James Earl Ray after federal authorities worked to undermine his anti-racial discrimination advocacy.

Trump Urges Opec To Slash Oil Prices

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President Donald Trump said he would ask Saudi Arabia and other Opec nations to “bring down the cost of oil” and doubled-down on his threat to use tariffs.

In a speech to executives at the World Economic Forum in Davos on Thursday, the US president said he was ‘surprised’ that Opec hadn’t brought down the price of oil before the elections.

“Right now the price is high enough that that war will continue,” he said, referring to the Russia-Ukraine war and suggesting that the higher oil price was helping to sustain funding for the conflict in Moscow.

“You gotta bring down the oil price, that will end that war. You could end that war,” he added

The president’s comments on the oil price came after he spoke to Saudi Crown Prince Mohammed bin Salman on Wednesday. According to Saudi State media Bin Salman pledged to invest as much as $600bn in the US over the next four years, however this figure was not mentioned in the White House statement after the call.

Despite the cordial exchange, Trump said he would be asking “the Crown Prince, who’s a fantastic guy, to round it out to around $1tn”.

The price of crude fell by 1% following Trump’s comments.

According to David Oxley, Chief Climate and Commodities Economist at Capital Economics these comments are in keeping with Trump’s desire for lower gasoline prices.

“[It’s] his clear intention to use energy as leverage over Russia to end the war in Ukraine. That said, lower oil prices will certainly not incentivise US oil producers to “drill, baby, drill” – particularly in high-cost Alaska.”

“Of course, Saudi Arabia would not be guaranteed to heed a request by President Trump to expand oil production and to bring down global oil prices.”

The US president’s appearance via video at the World Economic Forum marked his first address to a global audience since his inauguration earlier this week.

He used the platform to insist that companies around the world manufacture their products in the US or face bruising tariffs on imported goods entering the American market.

The president also said he would demand an immediate drop in interest rates, which he said had led to deeper deficits and resulted in what he described as economic calamity under the tenure of his predecessor, President Joe Biden.

“This begins with confronting the economic chaos caused by the failed policies of the last administration,” he said.

“Over the past four years, our government racked up $8 trillion in wasteful deficit spending and inflicted nation wrecking energy restrictions, crippling regulations and hidden taxes like never before.”

Trump also spoke of “good, clean, coal” to power data centres needed for artificial intelligence. “We need double the energy we currently have in the US, for AI to be as big as we want to have it,” he said, adding that he would use emergency decrees to speed the construction of new power plants.

“Nothing can destroy coal — not the weather, not a bomb, nothing,” said Trump.

President Tinubu Performs Groundbreaking Of New Armed Forces Headquarters

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https://www.youtube.com/watch?v=mGknY2KItIY?si=z-8rorzhKWVrQjyU

President Bola Ahmed Tinubu Performs the Groundbreaking Ceremony for the Construction of the new Armed Forces Headquarters Complex in Abuja..

REMARKS BY HIS EXCELLENCY, BOLA TINUBU GCFR, PRESIDENT AND COMMANDER-IN-CHIEF OF THE ARMED FORCES OF NIGERIA, AT THE GROUND-BREAKING CEREMONY FOR THE DEFENCE COMPLEX ABUJA THURSDAY, 23 JANUARY 2025

PROTOCOL

1. We are gathered here today for the ground- breaking of the Armed Forces Complex and to honour the unbroken spirit and dedication of the men and women who serve our great nation. This ceremony marks the start of a construction project and the foundation of a renewed commitment to our military and the values we hold dear as a democracy. On this occasion, we open a new chapter in our nation’s commitment to ensuring the safety and security of our people.

2. I am deeply moved and filled with pride and gratitude for the men and women who wear the uniform of our armed forces. I want to use this moment to personally commend the remarkable efforts of our armed forces under the leadership of the CDS, General CG Musa OFR, who stands guard with the Service Chiefs and men against the evil forces that seek to retard our cherished peace and development.

3. Your dedication, courage and resilience protect our freedoms and uphold the very principles upon which our nation was founded.

You exemplify loyalty and excellence in every endeavour, serving as a shining beacon of hope and strength for all our citizens. We recognise the burdens you bear and the challenges you face. You stand ready to respond to any threat, ensuring peace, stability, and security in our country.

4. It is fitting that a grateful nation honours your sacrifices with a state-of-the-art facility that I reaffirm my commitment to building a well- equipped and truly professional military that embodies our nation’s pride. In this regard, I have authorised measures to enhance your operational effectiveness, including procuring critical equipment.

5. As many know, the facilities housing our Defence and Services Headquarters at Area 10 Garki for over three decades were intended as temporary offices. Over the years, our armed forces have continued to adapt to dealing with new threats. The complex has become inadequate and inappropriate for many reasons. Therefore, it has become expedient to provide our military with a modern, befitting and comprehensive infrastructure that reflects their vital role as the backbone of our national security architecture in safeguarding our nation and protecting our democracy.

6. As we break the ground on this Armed Forces Complex, let it symbolise our nation’s respect and admiration for your unwavering service and our dedication to providing the resources you need to function better. This edifice, when completed, will not only stand as a centre of loyalty but a national monument that every Nigerian would be proud of.

7. It will be a hub of excellence, re- energising able leaders who are committed to the safety of our citizens. And as our nation’s economy continues to improve, our armed forces will be better repositioned to respond to the mandates enshrined in our Constitution, ensuring a secure future for our nation.

8. I am particularly proud to share that our efforts in developing a military-industrial complex have begun to yield positive results. These initiatives, driven by significant research and development by the Defence Industries
Corporation of Nigeria, the Command Engineering Depot of the Nigerian Army, and private entities such as EPAIL and ProForce, have enhanced our domestic defence capabilities.

9. Thus, with great pride and pleasure, I announce the assembly of these displayed Tactical Mine Resistant Ambush Protected (MRAP) Vehicles and Armoured Personnel Carriers (APC) produced in Nigeria. They testify to the advancement made in our defence sector. These vehicles will not only boost our armed forces’ operational efficiency but will also enhance our economy.

Russia & Iran Sign 20-Year Strategic Military Partnership Treaty (Photos)

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🇷🇺 Russian President Vladimir Putin and 🇮🇷 Iranian President Masoud Pezeshkian signed today the long-awaited Comprehensive Strategic Partnership Treaty.

The agreement, inked in a ceremony at the Kremlin, “covers all spheres, including defense, counter-terrorism, energy, finance, transport, industry, agriculture, culture, science and engineering,” according to Russian news agency TASS.

“I am very pleased that this work has been completed. It is important, because it will open up an opportunity to give an additional impetus to practically all areas of our cooperation,” Russian president Vladimir Putin reportedly said during the meeting with Pezeshkian.

“We continue our large projects, including those in nuclear energy,” Putin said, according to a readout on the Kremlin’s website. “There are also other emerging projects in the energy sector and good prospects in logistics.”

Pezeshkian added, “We believe that our bilateral relations with the Russian Federation are strategically important and comprehensive. We will continue our robust conversation and our dialogue with you.”

In 2001, Tehran and Moscow signed a 20-year comprehensive agreement, and now, more than three years after that agreement expired, the two allies signed a new agreement, coming in the wake of already tightening defense cooperation between the two countries.

For example, Iran exported Shahed suicide drones to Russia and even inaugurated a facility in Moscow to manufacture them locally, aiding Russian forces in the operations against Ukraine, the Washington Post reported in 2023. Iran also operates Russian air defense systems, such as the S-300.

“They’re cooperating to develop and produce more lethal loitering munitions for Russia’s use in Ukraine and for Iran to proliferate to partners and proxies throughout the Middle East,” Jonathan Lord, director of the Middle East security program at the Center for a New American Security, told Breaking Defense in July.

While details about future defense cooperation of the treaty have not yet been revealed, Behnam Ben Taleblu, senior fellow at The Foundation for Defense of Democracies, also in July predicted that the treaty will go beyond deepening military and security ties.

“What Russia and Iran may cooperate on in the nuclear and space domains, where Iran has great interest and Russia has great aptitude,” he told Breaking Defense then.

Breaking Defense || Times Of Israel

Tinubu Has Spent ₦‎300 Billion On FCT Area Councils In 17 Months – Wike

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The Federal Capital Territory (FCT) Administration, under the leadership of President Bola Ahmed Tinubu, has committed over N300 billion within a year to the development of the six Area Councils in the FCT.

This significant investment was disclosed by the FCT Minister, Barr. Ezenwo Nyesom Wike, during the commissioning of the 9km Paikon Kore – Ibwa road in Gwagwalada Area Council.

Barr. Wike highlighted that Gwagwalada Area Council alone has received over N50 billion in development projects, including the renovation of the Paikon Kore – Ibwa road, the reconstruction of the Aguma Palace road, the renovation of five secondary schools (including the School for the Gifted, Government Secondary School Gwagwalada, GSS Anagada, GSS Tugan Maje, and GSS Giri), and the construction of two new police divisions to enhance security.

He said, ‘ If you add the total value of what the President has committed to Gwagwalada alone, you are talking about over N50b, for one area council. If you now add the six area councils taking that Gwagwalada is the least, you will see that in a year, the President has committed to the development of satellite towns, not less than N300b”.

“President Tinubu is deeply committed to the development of not only the city of Abuja but also the satellite towns,” Minister Wike emphasized. “He has directed us to provide the people of the Area Councils with whatever they need. Mr. President believes that genuine governance involves seeking the people’s buy-in for every project that aims to improve their well-being.”

The Minister further announced the approval for the construction of the Ibwa bridge, a crucial infrastructure project requested by the Area Council leadership. This project will be included in the FCT’s 2025 statutory budget, reflecting the President’s dedication to the needs of the people.

https://thenationonlineng.net/tinubu-has-spent-n300-billion-on-fct-area-councils-in-17-months-wike/

Portugal Turns To Nigeria For Natural Gas To Reduce Russian Dependency

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Portugal has revealed plans to increase imports of Liquefied Natural Gas (LNG) from Nigeria and the United States as part of efforts to secure energy independence and reduce reliance on Russian gas. This decision follows sanctions on Russian oil and gas imported via pipelines after its 2022 invasion of Ukraine.

According to Portugal’s Environment Minister Maria da Graça Carvalho, the country is nearly independent of Russian gas but aims to completely eliminate this dependency.

Speaking at the World Economic Forum in Davos, Carvalho stated, “Portugal is now practically independent of Russian gas … but we want to reduce this figure further by importing more gas from Nigeria and the United States.”

In 2024, Portugal imported 49,141 gigawatt-hours of natural gas, 96% of which was LNG. Nigeria accounted for 51% of these deliveries, while the United States contributed 40% and Russia supplied 4.4%, data from grid operator REN shows. In comparison, Russia supplied 15% of Portugal’s LNG needs in 2021.

The shift in Portugal’s energy sourcing aligns with broader European Union efforts to reduce dependency on Russian energy. However, US President Donald Trump’s aggressive energy policies, aimed at flooding the global market with American oil, could pose risks to Nigeria, Africa’s largest oil producer.

David Okechukwu, a drilling engineer based in Port Harcourt, the capital of Rivers State in Nigeria, told Neusroom that Trump’s energy policies and his intention to drill more oil will lower the price of crude in the global market.

“We might see a slight reduction of oil price if US decides to drill as Trump is projecting,” he said.

Although more oil could reduce the cost of energy, Lagos-based SBM Intelligence warns that Trump’s policies may destabilize Nigeria’s economy, which heavily relies on oil exports for revenue.

“Nigeria’s economy relies heavily on oil exports, and Trump’s pledge to flood the global market with American oil seriously threatens the country’s financial stability,” the firm noted.

A potential global oil price decline would undermine Nigeria’s fiscal projections, forcing increased borrowing and cutting critical infrastructure and social programs.

The report added, “This could also deepen regional inequalities, as poorer states would bear the brunt of reduced federal allocations.”