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
Benue at a Tipping Point as IPCR, SPRiNG Deploy 45-Minute Conflict Response System
Benue at a Tipping Point as IPCR, SPRiNG Deploy 45-Minute Conflict Response System
By: Michael Mike
As Benue State grapples with recurring farmer-herder clashes and climate-driven tensions, the Institute for Peace and Conflict Resolution (IPCR) has moved to tighten Nigeria’s conflict prevention net, unveiling a strengthened early warning and rapid response framework designed to stop violence before it erupts.
Partnering with the SPRiNG Project, IPCR is pushing forward the National Conflict Early Warning and Early Response System (NCEWERS), an upgraded platform that processes verified conflict alerts within 45 minutes — a bold shift from reactive security deployments to proactive peacebuilding.
The initiative, backed by the UK Foreign, Commonwealth and Development Office and implemented by Tetra Tech, is being positioned as a decisive intervention in Benue, widely known as Nigeria’s “Food Basket of the Nation,” but increasingly scarred by deadly land disputes, herder-farmer confrontations, and climate pressures that threaten livelihoods and food security.
During an advocacy visit to the state, IPCR officials acknowledged that warning signs of violence in Benue have rarely been absent. The real breakdown, they argued, has been in coordination and speed of response.
“Early warning without early response is ineffective,” the Institute emphasised, noting that NCEWERS integrates real-time data gathering, geospatial mapping, and climate-risk indicators into a single digital architecture. Reports move through a structured chain — from the Conflict Anticipation Section to Early Warning Response Groups and Community-Based Reconciliation Committees — enabling authorities and local actors to intervene before tensions escalate.
The system builds on earlier peace structures previously supported by USAID, which benefited more than 10,000 community members across four states. However, IPCR says the new platform represents a significant leap forward in both technology and institutional coordination.
Beyond digital tools, the Institute is focusing heavily on rebuilding trust at the grassroots. Officials stress that community participation — especially from women, youth, and marginalised groups — is essential if early warning signals are to translate into preventive action.
The advocacy mission in Benue is also aimed at countering misinformation, which has frequently fueled retaliatory violence. IPCR is promoting toll-free lines and SMS channels to encourage prompt reporting while expanding media engagement to ensure accurate and responsible conflict reporting.
Calling for deeper state-level ownership, the Institute urged the Benue State Government, security agencies, traditional rulers, religious leaders, and civil society organisations to treat NCEWERS not as a distant federal project but as Benue’s own conflict prevention infrastructure.
With climate variability intensifying competition over land and water, and food security hanging in the balance, observers say the success of the early warning system in Benue could serve as a national template.
Benue at a Tipping Point as IPCR, SPRiNG Deploy 45-Minute Conflict Response System
News
EOD team neutralises IED on Dansadau road in Zamfara
EOD team neutralises IED on Dansadau road in Zamfara
By: Zagazola Makama
An Explosive Ordnance Disposal (EOD) team has successfully neutralised an Improvised Explosive Device (IED) discovered along the Dansadau road in Zamfara, restoring safe passage for motorists.
Sources told Zagazola on Monday that the device was discovered at about 9:30 a.m. on March 1 along the busy Dansadau axis.
The IED was suspected to have been planted by armed bandits operating in the area.
According to the source, following the discovery, the EOD team stationed in the axis swiftly mobilised to the scene and carried out a controlled operation to render the device inert using specialised equipment and techniques.
“The team responded promptly and conducted a safe removal procedure. The explosive device was successfully neutralised without any casualty.
“After thorough checks and clearance of the surrounding area, the road was declared safe for vehicular movement,” the source said.
Dansadau road has in recent times been a flashpoint for banditry-related activities, prompting sustained security operations to secure communities and critical routes.
Authorities have assured residents of continued surveillance and proactive measures to prevent further threats and ensure the safety of commuters and adjoining communities.
EOD team neutralises IED on Dansadau road in Zamfara
News
Peaceful demonstrations recorded in three Northern States after reports on Iran Leader’s Killing
Peaceful demonstrations recorded in three Northern States after reports on Iran Leader’s Killing
By: Zagazola Makama
Peaceful demonstrations were recorded in three northern states on Saturday as members of the Islamic Movement of Nigeria (IMN) and other Shi’ite groups staged processions in reaction to recent developments in Iran.
Zagazola report that the marches took place in Kano, Kaduna and Katsina states, with no incidents of violence recorded.
In Kano State, participants converged at Fagge Friday Mosque in Fagge Local Government Area at about 3:00 p.m. and proceeded in a procession to Mambayyah House in Dala LGA.
Demonstrators carried placards expressing solidarity with Iran and condemning actions by the United States and Israel in the ongoing Middle East crisis.
Joint security presence was visible along the route to ensure traffic control and prevent a breakdown of law and order. The procession ended at about 5:00 p.m., with participants dispersing peacefully.
Similarly, in Kaduna State, Shi’ite members marched from Ahmadu Bello Way to Leventis Roundabout at about 11:30 a.m., before disengaging at Tudun Wada Junction around 2:00 p.m.
The protest was described as orderly, with security personnel deployed at strategic points to monitor activities and safeguard public spaces.
In Katsina State, members of the Islamic Shi’ite sect staged a brief procession from IBB Way near Green House to the Central Mosque, Katsina, at about 4:00 p.m. The activity was peaceful and closely monitored by intelligence and security teams.
Across the three states, authorities confirmed that no violence, vandalism or confrontation was reported, and normalcy returned shortly after the demonstrations ended.
Sources noted that while the protests remained calm, developments in the Middle East have triggered emotional reactions in several countries, sometimes resulting in attacks on diplomatic missions and other symbolic assets.
Sources further advised heightened vigilance around critical national infrastructure and diplomatic facilities, particularly embassies and foreign missions, to guard against potential spillover or opportunistic threats.
They stressed the need for proactive intelligence gathering, visible patrols and community engagement to ensure that lawful expressions of solidarity do not degenerate into security breaches.
So far, the peaceful conduct of the demonstrations in northern Nigeria has been viewed as a positive sign, reflecting effective monitoring and restraint by both organisers and security agencies.
Monitoring of the situation continues.
Peaceful demonstrations recorded in three Northern States after reports on Iran Leader’s Killing
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