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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

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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

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Troops Kill Two Terrorists, Rescue 62 Abducted Persons in North-West Operations

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Troops Kill Two Terrorists, Rescue 62 Abducted Persons in North-West Operations

By: Michael Mike

Troops of the Joint Task Force North West under Operation FANSAN YAMMA have recorded significant operational gains with the killing of two suspected terrorists in Kebbi State and the rescue of 62 abducted persons in Zamfara State.

The coordinated operations, carried out by troops operating under Sector 2, were based on credible intelligence and involved close collaboration with other security agencies and local vigilante groups.

In Kebbi State, the troops ambushed suspected members of the Lakurawa terrorist group around Kerani village, near the boundary between Augie Local Government Area of Kebbi State and Binji Local Government Area of Sokoto State. During the operation, two of the suspects were neutralised, while two motorcycles believed to have been used for criminal operations were recovered. The suspects were reportedly dressed in camouflage outfits, and the motorcycles were modified for long-distance movement.

In a separate operation in Zamfara State, the troops raided Munhaye Forest, a known criminal hideout, following intelligence that several kidnapped victims were being held in the area. The operation led to the successful rescue of 62 abducted persons, who have since been moved to a secure location.

Military authorities said arrangements are ongoing to reunite the rescued victims with their families, while efforts continue to track and dismantle remaining criminal elements operating in the forests and border communities.

The military noted that the latest successes reflect the sustained commitment of Operation FANSAN YAMMA to restoring peace and improving security across the North-West region.

The development was disclosed in a statement issued on Wednesday by Lieutenant Colonel Olaniyi Osoba, Acting Deputy Director, Army Public Relations, 8 Division Nigerian Army, Sector 2, Operation FANSAN YAMMA.

Troops Kill Two Terrorists, Rescue 62 Abducted Persons in North-West Operations

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NHRC Condemns Killing of Woman, Six Children in Kano

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NHRC Condemns Killing of Woman, Six Children in Kano

By: Michael Mike

The National Human Rights Commission (NHRC) has condemned the brutal killing of Mrs. Fatima Abubakar and her six children in Dorayi Chiranchi Quarters, Kano State, describing the incident as a gross violation of the right to life and an attack on human dignity.

The tragic incident, which occurred on Saturday, January 17, 2026, reportedly involved unknown attackers who broke into the family’s residence, killed the victims with dangerous weapons, and allegedly threw an infant into a well.

Reacting to the incident, the Executive Secretary of the Commission, Dr. Tony Ojukwu, OFR, SAN, said the act was not only criminal but also a serious breach of constitutional and international human rights obligations binding on Nigeria. He noted that the right to life is sacrosanct and must be protected at all times, particularly for vulnerable groups such as women and children.

Dr. Ojukwu expressed deep concern over the level of violence displayed in the attack, stressing that such acts threaten public safety and undermine the rule of law. He called on the Nigeria Police Force and other relevant security agencies to carry out a comprehensive and transparent investigation to ensure that those responsible are identified and prosecuted.

The NHRC extended its condolences to the victims’ family, the Dorayi Chiranchi community, and the people of Kano State, assuring them of the Commission’s solidarity during the period of mourning.

The Commission also reaffirmed its commitment to the promotion and protection of human rights across the country, stating its readiness to work with law enforcement agencies to ensure accountability and justice in the case.

Dr. Ojukwu further urged collective action by government institutions, security agencies, community leaders, and civil society groups to uphold the sanctity of human life and prevent a recurrence of such tragic incidents.

He emphasized that justice for the victims is essential to restoring public confidence and fostering a society built on peace, justice, and respect for human dignity.

NHRC Condemns Killing of Woman, Six Children in Kano

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SOJA Condemns Killing of Woman, Six Children in Kano, Calls for Justice

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SOJA Condemns Killing of Woman, Six Children in Kano, Calls for Justice

By: Michael Mike

A human rights advocacy group, Speak Out for Justice Advocacy Ltd/Gte (SOJA), has condemned the gruesome killing of Mrs. Fatima Abubakar and her six children in Dorayi Chiranchi area of Kano State, describing the incident as a grave violation of fundamental human rights and a failure of state protection.

In a statement issued on Tuesday and signed by its legal officer, Hameed Ajibola Jimoh., the organisation said the killing of a mother and her children had shocked the nation and undermined the values of humanity, justice and the rule of law.

SOJA noted that the incident amounted to a serious breach of the right to life as guaranteed under Section 33 of the 1999 Constitution of the Federal Republic of Nigeria (as amended), as well as provisions of international human rights instruments to which Nigeria is a signatory. The group stressed that the African Charter on Human and Peoples’ Rights and the International Covenant on Civil and Political Rights impose clear obligations on the Nigerian State to protect life and ensure accountability for violations.

The organisation further described the killing of six children as a gross violation of the Convention on the Rights of the Child, which mandates governments to take all necessary measures to protect children from violence and unlawful death.

SOJA expressed concern that recurring cases of extreme violence, particularly against women and children, point to systemic weaknesses such as poor early-warning mechanisms, inadequate community-level protection, and insufficient intelligence gathering. According to the group, the responsibility of the state goes beyond prosecuting offenders to preventing foreseeable harm.

The advocacy group called on the Kano State Government, the Nigeria Police Force, the Department of State Services (DSS) and other relevant agencies to conduct a thorough, impartial and transparent investigation into the incident and ensure that all those responsible are brought to justice without delay.

It also urged authorities to provide psychosocial support, protection and relief assistance to surviving family members and the affected community, noting that justice must include healing and institutional reforms, not just arrests.

SOJA further recommended stronger community-based protection and early-warning systems, improved coordination between security agencies and local communities, sustained public education on violence prevention and child protection, and strict enforcement of existing laws protecting women and children.

The group stressed that the victims must not be reduced to mere statistics, adding that their deaths should serve as a catalyst for accountability and renewed commitment to the sanctity of human life.

SOJA said it stands in solidarity with the victims’ family and the people of Kano State, reaffirming its commitment to speaking out until justice is served.

SOJA Condemns Killing of Woman, Six Children in Kano, Calls for Justice

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