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
Yobe: NBA condemns alleged assault on lawyer by police in Damaturu
Yobe: NBA condemns alleged assault on lawyer by police in Damaturu
By: Yahaya Wakili
The Nigerian Bar Association (NBA), Damaturu branch, under the leadership of its chairman, Ahmad Khalil, Esq., has strongly condemned the alleged assault on one of its members, Muhammad Muhammad Saminu, Esq., by officers of the Damagum Police Division.
In a formal petition made available to newsmen in Damaturu and submitted to the Commissioner of Police, Yobe State Command, Emmanuel Ado, the branch described the incident, which reportedly occurred on February 23, 2026, as a serious violation of constitutional rights and an attack on the administration of justice.
According to the association, Mr. Saminu was at the Damagum Police Division in the lawful discharge of his professional duties as counsel to a detained client when he was allegedly assaulted.
The Nigerian Bar Association claims that the Divisional Police Officer, CSP Muhammad Abdullahi Baffah, and officers under his command subjected the lawyer to hostility, physical assault, and degrading treatment within the station premises; it is further alleged that he sustained injuries and damage to his personal property during the incident.
The NBA Damaturu branch further stated that, if the allegations are confirmed, the actions would amount to violations of the constitutional rights to dignity, personal liberty, and a fair hearing.
The association emphasized that interference with a lawyer performing professional duties undermines the rule of law and public confidence in the justice system.
The branch has demanded an immediate, independent, and transparent investigation into the matter. It is also calling for the suspension of officers found to be involved, appropriate disciplinary action in line with the Nigerian Police Act, and prosecution where criminal liability is established.
The Association further requested a written response from the police command within seven days.
The NBA reiterated its commitment to defending the rule of law and ensuring the protection of legal practitioners in the discharge of their duties. Adding to that, further developments are expected as the Yobe State Police Command responds to the petition.
While contacting the Police Public Relations Officer (PPRO), Yobe state command SP Dungus Abdulkarim said the case is put to investigation as the commissioner of police meets with MBA today in his office.
Yobe: NBA condemns alleged assault on lawyer by police in Damaturu
News
Renowned Adire Artisan, Grandma Sikira Adunni Aladire, Dies at 90
Renowned Adire Artisan, Grandma Sikira Adunni Aladire, Dies at 90
By: Michael Mike
A prominent traditional tie-and-dye artist and respected community figure, Grandma Sikira Adunni Aladire, has died at the age of 90.
She passed away in the early hours of Monday, March 2, 2026, at her residence in Ile Toki, located at No. N1/506 Balogun Ibikunle Street, Ayeye, Ibadan. She was buried the same day in accordance with Islamic rites.
Widely known by her popular nickname, “Sikira Aladire,” the nonagenarian built a reputation for excellence in the traditional Yoruba art of Adire (tie and dye). She began her training in the craft in the mid-1950s, during Nigeria’s pre-independence era, and went on to become one of the most recognized artisans in her community.
Her intricate patterns and culturally inspired designs drew admirers from far and near. Historical accounts from family members indicate that colonial officials and foreign visitors frequently visited Ile Toki to purchase her fabrics, contributing to the area’s growing reputation as a hub for high-quality tie-and-dye production. Some of her products were reportedly exported abroad, showcasing the artistic heritage of Ibadan and the wider Yoruba culture.
Beyond her craftsmanship, Grandma Sikira was described as a devout Muslim and a custodian of Yoruba traditions. She was also known for her love of Apala and Dundun music, often entertaining neighbors with her graceful dance steps at social gatherings.
Family members said she remained committed to her faith, family, and community throughout her lifetime, leaving behind a legacy of creativity, resilience, and service.
She is survived by her children — Late Sarah Alimi, Abibat Alimi, Suleiman Azeez, and Latifat Balogun — as well as grandchildren, great-grandchildren, siblings, and other extended family members.
The 7-day Fidau prayer is scheduled to hold at 12 noon on Sunday, March 8, 2026, at her residence in Ile Toki, Ayeye, Ibadan.
Family members prayed for Allah’s forgiveness for her shortcomings and asked that she be granted Al-Jannah Firdaus.
Renowned Adire Artisan, Grandma Sikira Adunni Aladire, Dies at 90
News
World bank boss commends Zulum for massive investment in education
World bank boss commends Zulum for massive investment in education
By: Bodunrin Kayode
The World Bank Country Director for Nigeria, Dr Mathew Verghis, has commended Governor Babagana Zulum for his massive investment in the education sector which to him is the very foundation for development.
He described Borno as a State of resilience, history and long term scholarship which is why he is not surprised that education has become a front burner investment which has come to stay.
The World Bank boss made the remark during the commissioning of the Maimusari primary and junior secondary school Mairi on Monday in the presence of the Governor and several dignitaries who witnessed the occasion.
Dr Verghis noted that the commissioning of 104 mega schools so far in the state is a continuation of the legacy and scholarship that has been associated with the renowned Kanem Borno Empire.
Verghis called on the students to ask questions to enable them make progress and “dream” very well to get to the very essence of seeking for an education which is the reason for being in school.
Earlier, the World Bank boss had commissioned some legacy projects executed by the administration of Governor Babaganda Zulum before arriving Mairi in jere council area.
The projects, comprising a flyover bridge, three state-of-the-art mega schools and three dual-carriageway road projects, represents Zulum’s giant strides in Borno’s post-insurgency urban renewal and human capital development agenda.
He stated during one of the events that, “We have seen today many of the programmes that Governor Zulum is leading and where the World Bank is supporting, and we are proud to do that and will continue to do so.
“We will continue to work with the government of Borno State, the Federal Government of Nigeria, and the communities and families who are the true architects of this country’s future.
“These schools are more than buildings; it is a testament, it says to every young person in this community, your future matters, it says to every girl who was told that school was not for her, we disagree, it says all this to every family that has endured hardship and anxiety and uncertainty.” said Verghis.
The newly commissioned educational facilities included the 30 classrooms Government Secondary School, Maimusari, Mairi; the 30 classrooms Mega Primary School, Maimusari and the Classrooms Command Secondary School, Maiduguri.
Other projects commissioned were the West End flyover bridge, the 1.53 km Sultan Mainalari Dual Carriage Road, the 2.3 km Bursari Dual Carriage Road and the 2.4 km Shehu Sanda Kura Dual Carriage Road.
Responding, Zulum highlighted some of the milestones achieved by his administration, including equitable access to quality education, infrastructure and urban renewal, economic growth and efforts on climate change.
He stressed that “Today’s commissioning of Maimusari Junior Secondary School, Mairi, alongside other mega school facilities, represents a major achievement in our education recovery and expansion efforts. These modern 30 classroom mega schools are designed to provide equitable access to quality education, particularly for orphans, vulnerable children, and those affected by conflict.
“The urgency of these investments is reflected in findings from the World Bank-supported Recovery and Peace Building Assessment, which revealed that over 5,000 classrooms were destroyed, leaving approximately 2.2 million children out of school at the peak of the crisis.
“In response, our administration has constructed 104 new schools and rehabilitated 2,931 classrooms and related facilities. These interventions have reduced the number of out-of-school children by over 70 per cent, bringing the figure to fewer than 800,000, while school enrolment has increased to over 1.4 million children as at December 2025.
“To sustain school enrolment and retention, particularly among children from vulnerable households, our administration has implemented comprehensive support measures since 2019. These include the provision of over 20 million exercise books, 2 million textbooks, 1.5 million sets of school uniforms, 700,000 school bags, and other essential learning materials.
“In addition, our school feeding programme supports approximately 50,000 pupils annually, while the distribution of 10,000 bicycles has improved access to education for students in rural communities. These interventions reflect our unwavering commitment to removing barriers to education and ensuring that no child is left behind.
“In response to the large number of out-of-school youth who have exceeded conventional school age, our administration has prioritised Technical and Vocational Education and Training (TVET) as a pathway for skills acquisition and economic empowerment. We have established five Vocational Enterprise Institutes, three Second-Chance Women and Girls Skills Entrepreneurship Schools, and reactivated nine vocational training centres across the State.
“In addition, we have undertaken reforms to modernise the Tsangaya education system while preserving its rich heritage. As part of this initiative, we are establishing Higher Islamic Colleges in each of the 27 local government areas, with 20 already completed, alongside the introduction of basic literacy, numeracy, English Language proficiency, ICT, and technical and vocational skills to equip learners with competencies relevant to today’s world.
“Beyond education, our administration continues to invest significantly in critical infrastructure to support urban renewal and economic growth. Today, you commissioned 7.44 kilometres of dual carriageway, 14.86 kilometres of drainage infrastructure, and our third flyover bridge.
” In total, we have constructed four flyovers, with another currently underway, alongside approximately 412.603 kilometres of roads and 108.97 kilometres of drainage systems across the State.” said the Governor.
World bank boss commends Zulum for massive investment in education
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