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
African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders
African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders
By: Michael Mike
African students were among the standout performers as the KDI School of Public Policy and Management held its 2025 Commencement Ceremony, reinforcing the institution’s growing role in shaping a new generation of global policy leaders committed to ethical governance and sustainable development.
The award recipients included Stephen Ojegbola from Nigeria, who earned the Academic Excellence Achievement Award in Intellectual Property and Development Policy.
Speaking at the ceremony in Sejong, the Dean of KDI School, Professor Joon-Kyung Kim, congratulated the graduating class on what he described as a hard-earned achievement, while urging them to prepare for greater responsibilities ahead.
“Today is a day to take pride in how far you have come. After hardship comes happiness, but beyond one mountain lies another mountain. You are now part of our global KDI community of over 73,000 alumni across 143 countries, and wherever you go, you belong to something bigger,” Prof. Kim said.
The Dean highlighted KDI School’s global standing, noting that it was the first institution in Korea to receive the Network of Schools of Public Policy, Affairs, and Administration (NASPAA) accreditation twice and that it has been recognised for the fifth consecutive year as an excellent institution by the Korean Ministry of Education.
He added that KDI ranked in the global 51+ tier for Social Policy and Administration in the 2025 QS World University Rankings by Subject and placed second worldwide in citations per paper.
He however stressed that the true measure of success lay beyond rankings and awards, insisting that: “More important than accolades is what you take with you—the skills to use data, the values to serve others and the commitment to improve the world around you,” describing Korea’s development experience as a roadmap to sustainable development for emerging economies.
In a keynote address, the Ambassador of Rwanda to the Republic of Korea, Bakuramutsa Nkubito Manzi, charged graduates to embrace collaboration in addressing complex global challenges.
He said: “The era of isolated policy-making is over. Climate change, global health security and rising inequality demand cooperation, empathy and intellectual humility. Your success in public service will not be measured by profit, but by impact.”
He added that KDI training had equipped graduates with the ability to analyse policy through the lens of public good and ethical governance, urging them to become “solution makers, not just problem identifiers,” inspired by Korea’s transformation known as the Miracle on the Han River.
Several other African students received academic awards for exceptional performance at the ceremony. Alinafe Yoyola of Malawi (Master of Development Policy), Alieu Ceesay of The Gambia (Master of Data Science for Public Policy and Management) and Mustapha Colley of The Gambia (Master of Public Policy) won the Academic Excellence Achievement Award, while Pamela Mwale of Malawi, a Master of Public Policy graduate, earned a place on the Dean’s List.
Also, Nander Esmeralda Ndam (Master in Intellectual Property and Development Policy) from Nigeria and Samson Garama Dadu (Master of Public Policy) from Kenya received awards for Student Community Service.
Reflecting on his experience, Ojegbola said he chose KDI School for its unique partnership with the World Intellectual Property Organisation (WIPO).
He said: “This programme links intellectual property directly to development policy. Everything here is intentionally designed to bring the best out of students, and the experience challenged me to grow beyond my expectations.”
Another graduate, Muyama Christine from Uganda, described her journey as demanding but transformative. “Policy works not when it assumes self-sufficiency, but when it recognises interdependence,” she said, adding that her time at KDI had shown her the power of community and shared purpose.
African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders
News
Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger
Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger
. As NDLEA Mother and Child over 1,187 kilogrammes skunk seizure in Ondo
By: Michael Mike
Three weeks after escaping arrest at his home in Anguwan Makera, Kuta, Shiroro local government area of Niger state, a notorious supplier of illicit drugs to bandits operating in the area, 33-year-old Mohammed Sani (alias Gamboli) has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at his hideout.
Spokesman of anti-narcotics agency, Femi Babafemi, in a press statement on Sunday said the arrest of Gamboli followed credible intelligence about his illicit drug activities. He said NDLEA operatives had on 20th November 2025 raided his house at Anguwan Makera, Kuta, where they recovered 471.8 kilogrammes of skunk, a strain of cannabis. Though he escaped arrest during the raid and has since been in hiding, the manhunt for him eventually paid off last Thursday when NDLEA officers acting on processed intelligence traced and arrested him at one of his drug joints in Anguwan Fadama, Kuta.
Babafemi said intelligence reports had indicated that Gamboli is a major supplier of illicit drugs to bandits operating in Shiroro local government area.

The spokesman said NDLEA officers in Abia last Thursday raided a clandestine codeine syrup-manufacturing factory at Amapu Igbengwo village, Umuakpara, in Osisioma local government area of the state. During the operation, operatives recovered a total of 9,015 bottles of codeine syrup weighing 1,152.2 kilogrammes.
In Enugu state, operatives last Thursday arrested Ossai Emeka, 45, along Onitsha – Enugu Ezike road with 7.2 kilogrammes skunk, while Enoje Agada, 40, was nabbed along Enugu-Ezike -Ette road with 94.6 kilogrammes of same psychoactive substance.
A raid carried out by NDLEA operatives at a notorious drug joint known as “Beere the California” at Ido in Oyo state last Thursday led to the seizure of 3.4 kilogrammes skunk, 1.6 kilogrammes Colorado, a synthetic cannabis and 400 grammes of methamphetamine. Babafemi said the owner of the drug joint identified as “Idowu the killer” is currently at large while a suspect Ajibade Faruk was nabbed at the joint.
Another operation at Idi Oro, Elekuro, Ibadan last Friday led to the arrest of Olusanya Abosede, 35, and the seizure of 238.4 kilogrammes skunk, while the duo of Bashiru Babalola, 43, and Ogunwale Ranti, 50, were arrested last Wednesday at Gbaji checkpoint, Seme road Badagry, Lagos with 50,000 pills of tramadol 250mg,
NDLEA operatives in Ogun state arrested two suspects: Akinwale Makanjuola and Joseph Owolabi with 73 kilogrammes skunk at Iperu just as another suspect Wasiu Lateef was nabbed with 25 kilogrammes of same substance at Oke Agbede, Imeko area of the state last Tuesday. In Ondo state, NDLEA officers acting on credible intelligence last Monday raided a compound in Ogbese, Akure North local government area, where they arrested a 55-year-old woman Veronica Obi and her 29-year-old son Bright Obi, and recovered 1,187 kilogrammes of skunk and its seeds from them.
A suspect Ohiomah Igbafe, 44, was arrested during a raid operation at Uroe community, Owan East local government area of Edo state, where 461 kilogrammes skunk and its seeds were recovered last Tuesday.
In Gombe state, a suspect Muhammed Sani (alias Sha-Mu-Sha), 50, was arrested with 40,000 capsules of tramadol at Tunfure area, Gombe, while two other suspects: Muhammad Abdullahi (a.k.a Sakalala), 52, and Muhammed Hamza (a.k.a Mamman), 32, were nabbed at Ashaka Jalingo, with 56 kilogrammes skunk last Monday.
Babafemi said no fewer than 907 pills of tramadol, tapentadol, cocodamol, amitriptyline and bromazepam concealed in containers of local black soap, and designer wears, in six different consignments going to the US, Canada and Sweden were intercepted and seized by NDLEA operatives at two major courier companies in Lagos between Tuesday and Wednesday, last week.

At the Apapa seaport in Lagos, NDLEA officers on Saturday intercepted a consignment of 170,000 bottles of codeine syrup weighing 23,579 kilogrammes during a joint examination of a container with men of Customs Service and other security agencies.
He said in like manner, commands and formations of the agency across the country continued their War Against Drug Abuse, WADA, sensitization activities to schools, worship centres, work places and communities among others in the past week.
Meanwhile, the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (rtd), while commending the officers and men of DOGI, Niger, Abia, Oyo, Enugu, Seme, Ogun, Ondo, Gombe, Apapa and Edo commands for the arrests, seizures and their dexterity, enjoined them and their colleagues across the country to continue with the ongoing balanced approach to the drug control efforts of the agency.
Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger
News
NUJ Calls for Collaboration to Realize Affordable House for Journalists
NUJ Calls for Collaboration to Realize Affordable House for Journalists
By: Michael Mike
The Nigeria Union of Journalists (NUJ), Federal Capital Territory (FCT) Congress
has renewed its call for stronger collaboration with government and housing finance institutions to improve access to decent housing for journalists, as stakeholders gathered for the 2025 Housing Industry End-of-Year Dinner and the 17th Africa Housing Awards in Abuja.
Speaking at the event, the NUJ FCT Chairman, Grace Ike praised the organisers for sustaining a platform that brings together policy makers, financiers, housing professionals and the media to address Nigeria’s housing challenges.
Ike, while giving special commendation to the Chief Executive Officer of Housing TV Show, Barrister Festus Adebayo, for his consistent advocacy for affordable housing and his support for journalism through media-focused housing conversations, asked for collaborations to get affordable houses for journalists practicing in Abuja
Ike, who acknowledged the presence of key government officials, including the Minister of Housing and Urban Development, the Minister of Finance, the Minister of Housing from Namibia, and the Managing Director of the Federal Mortgage Bank of Nigeria at the award ceremony, described the gathering as a rare convergence of decision-makers capable of translating policy into impact.
She noted that platforms such as Housing TV Show have amplified journalists’ voices on housing issues, while also helping to shape public understanding of affordable housing policies. She described journalists as partners in national development whose work helps strengthen transparency, accountability and social stability.
During the event, NUJ FCT Chairman announced the rebranding of the Union’s internal projects aimed at expanding housing advocacy, media empowerment and strategic partnerships. According to her, the rebranding is designed to position journalists for greater participation in housing initiatives and to attract collaboration from government agencies, financial institutions and private developers.
A major highlight of the address was a renewed appeal to the Minister of Housing and Urban Development to fulfil the promise of a Journalists’ Village, a proposed housing scheme aimed at providing journalists in the FCT with stable and affordable homes.
She said the project would not only improve journalists’ welfare but also strengthen ethical reporting and peace-building by giving media professionals greater personal security.
She expressed optimism that with the support of the Federal Mortgage Bank of Nigeria, the proposed housing project could become a reality by 2026.
She appealed to journalists to unite behind the initiative and work closely with policy makers and financiers to turn commitments into completed housing units.
The evening ended on a note of optimism, with speakers stressing that collaboration between government, the private sector and the media remains critical to addressing Nigeria’s housing needs and building a more inclusive future.
NUJ Calls for Collaboration to Realize Affordable House for Journalists
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