News
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
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
News
Troops clear ISWAP enclaves, recover arms, neutralise IEDs in Borno
Troops clear ISWAP enclaves, recover arms, neutralise IEDs in Borno
By: Zagazola Makama
Troops of Joint Task Force (North East), Operation Hadin Kai (OPHK), have intensified offensive operations against Islamic State West Africa Province (ISWAP) elements, clearing multiple terrorist enclaves in the Kashimori axis of Borno State and recovering arms, logistics and improvised explosive devices (IEDs).

Sources told Zagazola Makama that the operation was conducted in the early hours of Feb. 2, 2026, under Operation Desert Sanity, with troops of 21 Special Armoured Brigade (SAB) operating in conjunction with volunteer forces.
The sources said the troops carried out a coordinated clearance of several ISWAP hideouts clustered around the Kashimori area, spanning multiple locations within Guzamala axis, following actionable intelligence on terrorist presence and logistics activity.
According to the sources, although the enclaves were active prior to the operation, the terrorists abandoned their positions before the arrival of troops, apparently fleeing on sensing the advancing force.
“During the clearance operations, troops destroyed terrorist life-support structures across the enclaves and recovered one motorcycle, one tricycle, five AK-47 magazines and five terrorist flags,” the sources stated.
It added that two IEDs were discovered at separate locations during the operation and were safely detonated in situ by an Explosive Ordnance Disposal (EOD) team, while one unprimed IED was recovered intact.
The military said the operation was executed across difficult terrain, with troops encountering significant mobility challenges due to sandy soil conditions and mechanical faults affecting several vehicles and motorcycles.

Despite the constraints, the troops successfully completed the mission objectives and later harboured at Forward Operating Base (FOB) Kawuri without casualty.
The sustained pressure was being maintained on terrorist elements to deny them freedom of movement, logistics corridors and safe havens.
Operation Hadin Kai has in recent weeks intensified clearance and domination patrols as part of efforts to degrade ISWAP and Boko Haram remnants, disrupt their IED networks and prevent regrouping ahead of the dry season movement window.
Troops clear ISWAP enclaves, recover arms, neutralise IEDs in Borno
News
NSCDC Launches Gender Policy II to Deepen Inclusive Security Delivery
NSCDC Launches Gender Policy II to Deepen Inclusive Security Delivery
By: Michael Mike
The Nigeria Security and Civil Defence Corps (NSCDC) has unveiled its Gender Policy II, reinforcing its commitment to inclusive, people-centred security delivery and institutional professionalism.
The policy was launched on Tuesday in Abuja at an event that brought together senior government officials, security sector leaders, development partners and civil society organisations.
Speaking at the ceremony, the Commandant General of the NSCDC, Prof. Ahmed Audi, described inclusivity as a critical pillar for building a credible and effective security institution. He said the new policy reflects the Corps’ determination to align its operations with global standards while supporting national security priorities.
Audi, who represented the Minister of Interior, Olubunmi Tunji-Ojo, explained that Gender Policy II is designed to strengthen the Corps’ institutional capacity, enhance operational performance and ensure that personnel carry out their duties with professionalism, dignity and respect for human rights.
According to him, embedding gender responsiveness in security operations will improve service delivery, promote accountability and foster public trust, particularly among vulnerable and underserved communities.
Participants at the event, which was supported by UKFIDO and SPRING, highlighted the importance of inclusive security frameworks in safeguarding citizens and advancing social justice. Speakers noted that policies which promote equity and participation contribute significantly to effective law enforcement and national stability.
The launch of Gender Policy II also reaffirms the NSCDC’s commitment to the implementation of United Nations Security Council Resolution 1325 on Women, Peace and Security. Observers described the policy as a major milestone in the Corps’ ongoing efforts to institutionalise inclusivity, equity and professionalism across its operations nationwide.
NSCDC Launches Gender Policy II to Deepen Inclusive Security Deliver
News
Special Seat Is Democratic: NASS Urged to Pass Bill
Special Seat Is Democratic: NASS Urged to Pass Bill
Austin Aigbe FSM
Gender Rights Advocate
In the aftermath of Nigeria’s 2019 general elections, I sat with a heavy heart and a clear conclusion: affirmative action legislation is essential to address the stark underrepresentation of women in Nigeria’s political leadership. Despite women making up nearly half of Nigeria’s population, they occupy less than 5 per cent of seats in the National Assembly, underscoring a civic duty to effect change.
As the then Secretary of the National Coalition of Affirmative Action (NCAA) in my state, I worked alongside visionary women such as the late Oby Nwankwo, who helped lead the national gender equality architecture, as well as Hajia Saudatu Mandi and Dr Abiola Akiyode-Afolabi, among others. Together, we pushed for the full domestication of the Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW), culminating in the proposed Gender and Equal Opportunity (GEO) Bill. Yet, since 2007, that bill has languished in the National Assembly, stalled by political resistance and cultural pushback.
Now, the Special Seats Bill offers a breakthrough. It is not a compromise—it is a resolution. It responds to criticisms of the GEO Bill by focusing on representation rather than just rights. It proposes additional seats in the Senate, House of Representatives, and State Houses of Assembly, to be contested exclusively by women, without reducing existing seats or threatening incumbents. It is a democratic innovation, not a disruption.
Why Special Seats Matter
The argument is simple: democracy must reflect the people. If half of the population is excluded from decision-making, democracy remains incomplete. Special seats are not about tokenism; they are about correcting structural imbalances. Sierra Leone, for example, passed the Gender Equality and Women’s Empowerment (GEWE) Act in 2022, addressing gender gaps by increasing women’s representation in decision-making, improving access to finance and employment, and promoting equal opportunities in education and training. Other countries, including Rwanda, Senegal, and South Africa, have used constitutional and legislative measures to advance gender parity. Nigeria should no longer lag.
The Special Seats Bill also directly addresses the barriers women face when contesting elections:
Violence and intimidation, particularly during party primaries.
The monetisation of politics disadvantages women with fewer financial resources.
Patriarchal party structures that sideline women during candidate selection.
By creating a guaranteed pathway, the bill enables women to enter the political space, build experience, and eventually compete for general seats on a more equal footing.
The Human Cost of Delay
Every election cycle without reform is a missed opportunity. In 2023, only 3.6 per cent of those elected to the National Assembly were women; it is not merely a statistic; it represents hundreds of capable women denied a voice. It reflects the silencing of perspectives on maternal health, education, gender-based violence, and economic inclusion.
I have previously supported interventions aimed at strengthening the capacity of women candidates—many of whom were more qualified than their male opponents but were pushed aside by party gatekeepers. I have seen communities rally behind women leaders, only to be told they are “not electable.” The Special Seats Bill is a lifeline for these women—and for the communities they seek to represent.
A Call to the National Assembly
The National Assembly has a patriotic duty to pass this bill now, as it directly impacts Nigeria’s democratic future and inclusivity.
Nigeria’s lawmakers must rise above partisan interests and act in the national interest. The bill has reached its final stage of legislative consideration. The time to act is now—before the 2027 elections are upon us.
Conclusion: Democracy Is Representation
The Special Seats Bill is a vital democratic correction that ensures equal participation and opportunity, enabling meaningful change.
Let us not wait another decade. Let us not mourn another election cycle defined by exclusion. Let us pass the Special Seats Bill—and finally make democracy whole.
Special Seat Is Democratic: NASS Urged to Pass Bill
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