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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
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
Abduction of Fulani woman, Aisha Goma heightens fear of attacks in Kaduna community
Abduction of Fulani woman, Aisha Goma heightens fear of attacks in Kaduna community
By: Zagazola Makama
The abduction of a married Fulani woman, Aisha Goma, in Chikun Local Government Area of Kaduna State has sparked fresh fear and anxiety among residents of the area.
Sources told Zagazola Makama that the victim was abducted from her home at about 11:00 p.m. on Friday, Jan. 17, while her husband was away.
According to the sources, the attackers, suspected to be armed bandits, besieged the residence and forcefully took the woman to an unknown location.
The sources said that the assailants are believed to be former members of the Kamilu group, who have been operating around the axis in the past,” a source said.
The sources added that as of the time of filing this report, no contact had been made by the abductors and no ransom demand had been communicated to the family.
Zagazola reports that the incident has heightened tension in the area, with many residents expressing fear over a surge in abductions targeting members of the Fulani community in recent weeks.
“For more than a week now, people have been living in fear. Families are moving out in large numbers, especially those living around the Olam Company axis,” another community source said.
According to him, some residents have relocated to safer parts of Soba Local Government Area, while others have fled to villages in neighbouring Kwara State to escape the growing insecurity.
Abduction of Fulani woman, Aisha Goma heightens fear of attacks in Kaduna community
News
Gunmen retaliate after rustling of 102 cows, kill one, injure two in Barkin Ladi in Plateau
Gunmen retaliate after rustling of 102 cows, kill one, injure two in Barkin Ladi in Plateau
By: Zagazola Makama
One person was killed and two others injured when gunmen attacked Kasuwa Denkeli village in Barkin Ladi Local Government Area (LGA) of Plateau State in the early hours of Saturday, in a retaliatory strike linked to the recent rustling of 102 cows in neighbouring Riyom LGA.
The attack, which occurred at about 2:30 a.m., came days after armed men drove away 102 cows from Dan Sokoto, Ganawuri District of Riyom LGA, heightening tensions across the Barkin Ladi–Riyom–Jos South axis.
Residents of Kasuwa Denkeli told Zagazola Makama that the assailants stormed the community and opened fire on houses, leaving one person dead on the spot and two others with gunshot injuries. The injured were evacuated to the Jos University Teaching Hospital for medical attention, while the body of the deceased was deposited at the General Hospital morgue in Barkin Ladi for autopsy.
Police sources who confirmed the incident said “On receipt of a distress call, a team led by the Divisional Police Officer (DPO) Barkin Medical immediately moved to the scene.
He added that the two injured victims were rushed to the Jos University Teaching Hospital for medical attention, while the corpse of the deceased was deposited at the General Hospital morgue in Barkin Ladi for autopsy.
According to the police , investigation into the incident has commenced, and efforts are ongoing to track down and arrest the perpetrators, while they urged residents to remain calm and continue to cooperate with security agencies by providing timely and useful information that could lead to the arrest of those responsible.
Zagazola report that Saturday’s incident is the latest in a chain of incidents that began on Wednesday, Jan. 14, when no fewer than 102 cows were rustled at about 11:00 a.m. in Dan Sokoto, Ganawuri District of Riyom LGA. Local sources said the attackers, identified by witnesses as Berom militia from the Vom District in Jos South LGA, stormed the area and drove away the cattle at gunpoint.
The cattle reportedly belong to Alhaji Nalado of Gargari, around Tashan Nashanan, and Malam Ango of Sabon Kaura, around Kudadu, both in Jos East LGA, although the animals were taken from Ganawuri in Riyom LGA.
Witnesses said the attackers were heavily armed, forcing herders to flee for their lives. As of the time of this report, none of the cattle had been recovered, despite security alerts. Residents also alleged that areas such as Vwang in Jos South and parts of Fan District in Barkin Ladi LGA are increasingly seen as “no-go” zones where rustled cattle are kept, complicating recovery efforts.
The Ganawuri rustling was not an isolated incident. It followed a series of attacks on livestock across Plateau State this month. At least seven cows were poisoned in Kwi village in Riyom LGA, while three others were shot dead around Kuru Gadabiyu in Barkin Ladi LGA near the Bicichi axis. Each incidents had deepens mistrust and raises the risk of reprisals in flashpoints already on edge.
The pattern of escalation has been consistent. On Jan. 6, coordinated attacks on Jol community in Riyom LGA and Gero in Gyel District of Jos South LGA left three people dead. The violence followed the shooting of two Fulani youths earlier that day in Jos South, one of whom later died. Witnesses described the ambush as unprovoked, triggering swift retaliation and counter-retaliation.
December 2025 also saw a surge in incidents. On Dec. 12, more than 130 cattle were reportedly rustled in Nding community. Around the same period, livestock poisoning was recorded in parts of Jos East and Riyom LGAs. These were followed by deadly clashes, including the killing of four children in Dorong village, Barkin Ladi LGA, and attacks on Gero village that resulted in deaths, injuries and loss of livestock.
On Dec. 16, 2025, an attack on an illegal mining site in Tosho community, Barkin Ladi LGA, left 12 miners dead and others abducted, with security sources linking the violence to earlier rustling of 171 castles belonging to the Fulani. In Plateau State, attacks on livestock often act as a spark that ignites wider communal violence.
For pastoral families, cattle are not just animals; they are livelihoods, savings and identity. When herds are stolen, poisoned or shot, families are pushed into desperation. Emotions escalate quickly, and reprisals follow.
Zagazola has repeatedly warned that unless attacks in across Barkin Ladi, Riyom and Jos South LGAs, on both lives and livelihoods are addressed impartially, the state risks remaining trapped in a cycle where each attacks becomes justification for the next
Gunmen retaliate after rustling of 102 cows, kill one, injure two in Barkin Ladi in Plateau
News
Nigeria Condoles Southern African Nations Hit by Deadly Floods
Nigeria Condoles Southern African Nations Hit by Deadly Floods
By: Michael Mike
The Federal Government has expressed deep sympathy with South Africa, Mozambique, and Zimbabwe following devastating floods that have killed over one hundred people and displaced thousands across parts of Southern Africa.
In a statement issued in Abuja on Sunday by the Spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa, the Nigerian government described the disaster as heartbreaking and extended condolences to the affected governments and their citizens.
The statement noted that weeks of heavy rainfall had caused rivers to overflow, destroyed critical infrastructure such as roads and bridges, and disrupted farming activities and essential services.
It also highlighted concerns about secondary humanitarian crises, including hunger, possible disease outbreaks, and increased risks to vulnerable groups such as women, children, and the elderly.
Nigeria commended the efforts of national authorities, regional bodies, and international organisations currently engaged in rescue operations, relief distribution, and evacuation of affected communities. The government praised the resilience of the affected countries as they work toward recovery and rebuilding.
The Federal Government also warned that extreme weather events linked to climate change are becoming more frequent across Africa. It called for stronger regional collaboration, improved early-warning systems, and better climate adaptation measures to reduce future disaster risks.
Nigeria reaffirmed its readiness to cooperate with the affected nations through bilateral, regional, and multilateral channels to support disaster management, humanitarian assistance, and climate resilience initiatives.
It assured the governments and people of South Africa, Mozambique, Zimbabwe, and other impacted countries that Nigeria stands in solidarity with them during this difficult period.
Nigeria Condoles Southern African Nations Hit by Deadly Floods
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