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ActionAid Advocates for Windfall Tax on ‘Climate Wrecking’ FirmsSays Over US$420 billion in Windfall Profits Made in 24 months by 36 Top Fossil Fuel, Financial Firms

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ActionAid Advocates for Windfall Tax on ‘Climate Wrecking’ Firms
Says Over US$420 billion in Windfall Profits Made in 24 months by 36 Top Fossil Fuel, Financial Firms

By: Michael Mike

ActionAid International has advocated for massive imposition of windfall tax on fossil fuel companies including financial institutions, lamenting that ‘climate-wrecking’ firms make billions in ‘surplus profits’ and should be made to pay to ameliorate the harms done.

ActionAid in a statement on Wednesday said a report it conducted has shown that 36 top companies in the fossil fuels and financial sector, often funding fossil fuel use, made over US$420 billion in windfall profits in the 24 months preceding July 2023.

It stated that a tax of 90% on these windfall profits could generate as much as US$382 billion in revenue, an amount that could be spent on public services such as education, or climate action, calling for urgent introduction of windfall profits taxes.

The statement read: “Thirty-six top companies in the fossil fuel industry and their funders made over US$420 billion in
‘surplus’ profits in the 24 months before July 2023, shows a new ActionAid report.
The report shows that taxing these extraordinary profits, referred to as windfall profits, could generate funds to boost public spending, especially for key areas such as education and climate action.

“Windfall profits are often attributed to external context changes and are considered a ‘surplus’ above the regular and expected profits.

“A tax of 90% on the windfall profits of these 36 firms could generate as much as US$382 billion in revenue, shows the report launched as world leaders meet at Davos for the World Economic Forum. This amount is almost 20 times more than the US$21 billion provided by donors for climate adaptation in 2021.”

ActionAid Secretary-General Arthur Larok said: “The scale of profits that fossil fuel companies and their bankers are making in the wake of global crises is truly astounding, especially when compared to the hardships that these crises have brought upon regular people around the world,” insisting that: “Windfall profits taxes make sense. They can bring in significant revenue for climate action and social services, while taxing only the extraordinary corporate profits.”

According to the statement, ActionAid’s research is an analysis of the profits of the top 14 fossil fuel companies and top 22 financial corporations by value on the stock market. In the 24 months to July 2023, these firms made US$1,218 billion in profits. Windfall profits from this amount comes to US$425 billion.

It added that fossil fuel company profits in the 12 months before July 2023 were up by an astounding 278% compared to the average in the period between 2017/2018 and 2020/2021

It noted that both the fossil fuel and the financial industries have been making extraordinary profits in recent years, widely attributed to the impact of Russia’s full-scale invasion of Ukraine, and high interest rates adopted by many countries in response to growing inflation, stressing that: “ActionAid’s research in 2023 found that banks alone have poured over US$3.2 trillion into fossil fuels in the Global South since the Paris Agreement was adopted in 2015, making them complicit in climate damage.”

The statement recalled that at COP27, United Nations Secretary-General Antonio Guterres asked governments to tax the windfall profits of fossil fuel companies and redirect that money to those impacted by climate change, lamenting that over a year later, only some EU Member States, the UK, and a few Latin American countries, have introduced some forms of temporary and often limited windfall taxes on fossil fuel companies.

ActionAid Advocates for Windfall Tax on ‘Climate Wrecking’ Firms
Says Over US$420 billion in Windfall Profits Made in 24 months by 36 Top Fossil Fuel, Financial Firms

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COAS commissions AHOOAS estate, shopping complex in Ibadan, reaffirms soldier-first welfare policy

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COAS commissions AHOOAS estate, shopping complex in Ibadan, reaffirms soldier-first welfare policy

By: Zagazola Makama

The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, on Friday commissioned the Affordable Home Ownership Option for All Soldiers (AHOOAS) estate and a Post-Service Housing Development Limited (PHDL) shopping complex in Ibadan, Oyo State, reaffirming the Nigerian Army’s commitment to a soldier-first welfare policy.

Shaibu said the projects were part of deliberate efforts to address the post-service housing needs of personnel and improve their overall quality of life, describing access to decent housing as a critical component of troop welfare.

The event was attended by the Special Guest of Honour, the Executive Governor of Oyo State, represented by the Commissioner for Lands and Urban Development, Mr William Akinfumilayo; the Royal Father of the Day, Oba Rashidi Adeolu Ladoja; Principal Staff Officers from Army Headquarters; senior serving and retired officers; partners of the project; members of the Nigerian Army Officers’ Wives Association and the Soldiers’ Wives Association, as well as members of the press.

The COAS said the AHOOAS scheme was conceived to enable serving soldiers to acquire affordable and decent homes in locations of their choice, which they could comfortably retire into after years of service to the nation.

“This project is a clear demonstration of our resolve to place the welfare of the Nigerian soldier at the centre of our policies and actions. A soldier who is assured of his future is better motivated to give his best in the defence of the nation,” he said.

He recalled that the pilot phase of the AHOOAS project in Idu, Abuja, delivered over 400 housing units now fully occupied by soldiers and their families, adding that the Ibadan project was part of the expansion of the scheme to other parts of the country.

Shaibu disclosed that similar projects were at various stages of completion in Benin, Jos and Abuja, while plans were also underway to fast-track home ownership for the Warrant Officers’ cadre of the Nigerian Army.

He paid tribute to the late former Chief of Army Staff, Lt.-Gen. Taoreed Lagbaja, for initiating the housing scheme, and assured that the current leadership would continue to build on the foundation he laid.

The COAS also commended the Oyo State Government for its support to military formations in the state and urged other state governments to key into the initiative by allocating land for the scheme in their respective states.

According to him, the commissioning of the PHDL shopping complex in Eleyele, Ibadan, would complement the housing estate by providing essential services, supporting small businesses and contributing to the local economy.

Shaibu expressed appreciation to the management of PHDL and partner organisations for their professionalism in delivering the projects, noting that the Nigerian Army remained open to credible public-private partnerships that would enhance personnel welfare.

He further thanked President Bola Ahmed Tinubu, GCFR, for his continued support to the Armed Forces, reaffirming the Army’s commitment to actualising the President’s vision of a secure and prosperous Nigeria.

The COAS assured residents of Oyo State of the Nigerian Army’s sustained cooperation with civil authorities in promoting peace and security across the state and the country at large.

Earlier speaking at the ceremony, the Managing Director of PHDL, Maj.-Gen. I.A. Allison, said the philosophy of the COAS was firmly anchored on welfare, noting that home ownership remained one of the most critical assurances a soldier could have after years of service to the nation.

“There cannot be a better welfare than a house a home into which a soldier is sure he will retire,” he said.

He recalled that the first phase of the AHOOAS project was commissioned at Idu, Abuja, on Dec. 18, 2024, with 400 housing units, describing the Akobo project as a continuation of that vision exactly one year later.

The Post-Service Housing Development Limited (PHDL) managing director acknowledged the contributions of his predecessors, Maj.-Gen. Titus Umeri (rtd) and Maj.-Gen. J.T. Omali (rtd), saying he had built on their achievements since assuming office.

He disclosed that following his initial briefing of the COAS, approvals were granted for concurrent construction across multiple locations nationwide. “As I speak, aside from Akobo, we have 80 housing units under construction in Jos, 60 completed here, 40 completed in Benin, and 120 units nearing completion at Idu as Phase Two,” Allison said.

He added that the Akobo estate comprised 30 units of two-bedroom apartments for junior non-commissioned officers and 30 units of three-bedroom apartments for senior non-commissioned officers.

According to him, five per cent of the houses would be allocated free of charge to soldiers who were badly wounded in battle or suffered severe trauma during operations.

To ensure balanced communities, Allison said 25 per cent of the houses would be allocated to civilians at discounted rates, while 70 per cent would be reserved for soldiers at highly subsidised prices. “When a house built at N30 million is sold for N7.5 million, or one built at N50 million is sold for N8.5 million, then it is clear that this is a genuine welfare programme,” he said.

He further disclosed that commercial developments were being undertaken alongside the housing scheme, including 22 shops in Ibadan, a completed shopping complex with over 120 shops in Abuja awaiting commissioning, and another complex of over 50 shops under construction in Warri, expected to be completed in the first quarter of 2026. Allison also commended partners supporting the initiative.

He said Family Homes Funds Limited had constructed 50 two-bedroom houses to be donated to widows of fallen soldiers, adding that the formal handover would take place before Jan. 15, 2026, to coincide with activities marking Armed Forces Remembrance Day.

The PHDL MD expressed appreciation to the Chief of Army Staff, the Oyo State Government, the Royal Father of the Day and all guests for witnessing the commissioning of the AHOOAS project, describing it as another milestone in the Nigerian Army’s welfare drive.

COAS commissions AHOOAS estate, shopping complex in Ibadan, reaffirms soldier-first welfare policy

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Army troops repel ISWAP drone, mortar attack on military base in Borno

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Army troops repel ISWAP drone, mortar attack on military base in Borno

By: Zagazola Makama

Troops of the Joint Task Force North East, Operation Hadin Kai, have successfully repelled a coordinated attack by ISWAP terrorists on a military base in Borno State.

Sources told Zagazola Makama the attack occurred at about 7:57 p.m. on Thursday when three hostile drones were sighted hovering around Battalion Headquarters “Alfa” in what appeared to be an attempt to conduct surveillance on the location.

According to the sources, as troops moved to neutralise the drones, the terrorists launched two mortar bombs at the base, followed by intense small arms fire.

“The troops responded with superior firepower, suppressing the terrorists and forcing them to withdraw in disarray towards the Mangari axis,” the source said.

The Nigerian Air Force (NAF) was said to have provided immediate air support during the engagement, further aiding ground troops in repelling the attack.

No casualty was recorded among the troops, while no equipment was damaged during the encounter.

Following the foiled attack, troops conducted exploitation of the area and recovered several items abandoned by the fleeing terrorists, including six rocket-propelled grenade (RPG) bombs and charges, 366 rounds of 7.62mm by 51 ammunition, as well as a large quantity of expended PKT rounds.

Operation Hadin Kai continues to sustain offensive actions against terrorist elements across the North East to deny them freedom of action and degrade their operational capabilities.

Army troops repel ISWAP drone, mortar attack on military base in Borno

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Benin coup plotter Pascal Tigri traced to Niger, as accusing fingers pointed at President Tchiani

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Benin coup plotter Pascal Tigri traced to Niger, as accusing fingers pointed at President Tchiani

By Hamza Suleiman

Pascal Tigri, the lieutenant-colonel at the center of the recent foiled coup in Benin, has reportedly been located in a ministerial residence in Niamey, Niger, in close proximity to the presidential palace and the Directorate-General of Documentation and External Security (DGDSE), multiple regional sources have confirmed.

Tigri is believed to have been in the villa since December 12, following a carefully orchestrated escape route that spanned several West African capitals.

Sources indicate that after the failed coup attempt in Cotonou on December 7, Tigri fled to Lomé, Togo, before boarding a private Beechcraft 100 D aircraft to Ouagadougou, Burkina Faso, on December 12. The aircraft, operated by Liza Transport International (LTI) Aviation, a subsidiary of the Burkinabè company Ebomaf owned by businessman Mahamadou Boukoungou, subsequently transferred Tigri to Niamey the same evening.

Regional intelligence suggests that Ouagadougou may have functioned as a “command and control hub” for the attempted coup, in alleged coordination with elements in Niger. Investigators in Benin have also raised concerns about the movements of other mutinous soldiers who reportedly fled Lomé on December 16 aboard the same LTI aircraft.

According to sources, the flight transponder was deactivated while crossing Bénin airspace, and verification with the National Civil Aviation Agency indicated the flight may have been cleared with a falsified authorization. These developments have intensified suspicion of external interference and potential complicity by regional actors.

Tensions between Bénin and Niger have escalated in recent weeks. President Abdourahamane Tiani of Niger has previously accused Bénin of harbouring groups engaged in terrorism, allegedly with external support. The failed coup, alongside unusual troop movements observed near the Bénin-Niger border on December 6, has further strained relations.

Notably, intelligence indicates that two units of the Nigerien Armed Forces were deployed to Gaya, Niger, two days before the coup, under orders from the Chief of Army Staff, General Mamane Sani Kiao. The units, dispatched from Maradi, were positioned near the Niger-Benin border, prompting questions about their intended mission, whether to escort sensitive convoys or monitor the activities of Tigri and his collaborators. After the coup’s failure, the Nigerien troops withdrew.

Sources close to the investigation reveal a pattern of discreet meetings, financial support, and communications linking Tigri and his affiliates with Nigerien intermediaries believed to be aligned with Nigerien authorities loyal to the transition government of General Abdourahamane Tiani. These contacts reportedly extended to operational planning and intelligence sharing, further complicating the regional security environment.

The presence of Tigri in Niamey, reportedly in a villa housing senior government officials including the Prime Minister and foreign advisors, mirrors the high-risk nature of his concealment. Reports indicate that Bala Arabé, head of Niger’s DGDSE, recently moved into a nearby city villa, further reinforcing suspicions of possible protection or surveillance by state actors.

In Bénin, authorities continue to pursue multiple leads, including tracing financial flows, and other classified intelligence. Video messages circulated by activist Kemi Seba in the immediate aftermath of the attempted coup suggest that some actors were forewarned, leading to an international warrant for Tigri and other suspected collaborators.

Nigeria, through intelligence sharing and diplomatic engagement, has played a stabilising role, working closely with Bénin authorities to monitor the crisis and prevent escalation. The swift and strategic deployment of Air and ground troops along the border played a pivotal role in limiting the potential fallout of the coup. Again, the deployment and surveillance along Gaya further prevented an escalation into a broader regional crisis. Nigeria’s proactive involvement exemplifies its commitment to safeguarding democratic governance and regional stability in West Africa.

The episode has drawn attention to vulnerabilities in border security, aviation oversight, and intelligence coordination in the sub-region. The intricate escape route, alleged cross-border support networks, and the covert operations surrounding Tigri signals the continuing challenges in preventing the spread of political instability as well as insecurity.

The presence of Tigri in Niamey, coupled with previous intelligence intercepts, continues to fuel speculation regarding Niger’s role, direct or indirect. The incident also exposed vulnerabilities in private aviation oversight and cross-border security, which called for the need for tighter controls to prevent the movement of rogue actors.

Meanwhile, sources confirmed that Bénin continues to pursue investigations into the escape of Tigri and other mutineers, with international warrants reportedly issued against key figures implicated in the attempted coup. For now, Tigri’s presence in Niamey continues to be a focal point of diplomatic and intelligence scrutiny in West Africa.

Nigerien authorities have not issued official statements regarding the presence of Tigri on their territory.

Benin coup plotter Pascal Tigri traced to Niger, as accusing fingers pointed at President Tchiani

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