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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
Tinubu commissions Borno’s projects, says Zulum’s performance exceptional
Tinubu commissions Borno’s projects, says Zulum’s performance exceptional
By: Michael Mike
President Bola Ahmed Tinubu on Saturday commissioned three newly constructed mega schools and a fleet of 620 fully electric vehicles and tricycles delivered by the governor of Borno State, Professor Babagana Umara Zulum.
During the commissioning ceremony, which was performed separately, President Tinubu commended Governor Zulum for his transformative leadership.

The president said: “I congratulate the Governor and the people of Borno State for this transformation. Government is all about people, and Professor Zulum is doing a very good job of caring for people.”
The president highlighted the projects as tangible evidence of effective governance and a blueprint for holistic state development.
The commissioned schools include Mafoni Day Secondary School, Bola Ahmed Tinubu Government Day Secondary School and Mafoni Primary School.
They are part of Governor Zulum’s ambitious 104 Mega School Initiative designed to drastically improve access to quality education and rebuild the sector after over a decade of insurgency.
Each of the facilities is equipped with modern classrooms, laboratories, libraries, sports facilities and an administrative complex to create a conducive learning environment.

The president also commissioned the international terminal of the Muhammadu Buhari International Airport, Maiduguri, in preparation for the commencement of international operations.
Governor Zulum, in his response, expressed gratitude for the federal government’s support and reiterated his administration’s commitment to rebuilding Borno’s infrastructure, economy and human capital.
The event was attended by federal and state officials, traditional rulers and community leaders.

President Tinubu concluded his state visit by attending the wedding ceremony of former Borno State Governor Sheriff’s son, conducted at the Maiduguri Central Mosque.
Tinubu commissions Borno’s projects, says Zulum’s performance exceptional
News
Between Imperialism and Military Rule: The Choiceless Political Reality in West Africa
Between Imperialism and Military Rule: The Choiceless Political Reality in West Africa
By Chukwuemeka B. Eze and Jeggan Gray Johnson
West Africa stands today at a troubling crossroads where democratic aspirations collide with deep geopolitical tensions, failing institutions, and a new wave of military interventions- raising legitimate questions of the region’s democratic trajectory fifty years after its formation. Have we plateaued or plummeted into the age of the erosion of established normative procedures and democratic institutions, or is the regional experiment in a stage of reflection of deeper, ongoing challenges? Are citizens confronting systems that they perceive as imperial impositions and using whatever means available to them to resist? Or are they facing a crisis of democracy itself, a legitimacy crisis stemming from civil rule that often masks authoritarian tendencies? Why are military coups predominantly re-emerging in Francophone countries? Is this a coincidence, or does it reveal unresolved histories of external influence, entrenched political economies or distinctive patterns of state–society relations in these contexts? In whose name and under whose mandate do political elites continue to hold power? Why are we so quick to dismiss the military as being outside of the political system when, in fact, it is an institution shaped by the same social, economic and political dynamics as the rest of society? To what extent does our discourse artificially separate civilians from soldiers, rather than examining the broader governance ecosystem that produces both?
Citizens increasingly find themselves trapped between three unappealing forces—the entrenched culture of ‘electoral despotism’, external imperial influence and internal military domination. The trilateral dilemma has produced a disturbing condition: a choiceless choice, where none of the options seem incapable of delivering stability, dignity, peace and security or even genuine sovereignty.
The Long Shadow of Imperialism: More than six decades after independence, imperial legacies remain deeply embedded in West Africa’s political and economic structures. Former colonial powers continue to exert influence through aid conditionalities, control of extractive industries, military cooperation agreements, and political alliances that safeguard their strategic interests. In countries like Mali, Niger, Burkina Faso and Benin, resentment toward external interference; particularly from France has grown into a widespread political sentiment.
Economic dependence, currency constraints (such as the CFA franc), and foreign troops stationed on African soil reinforce the perception that the region’s sovereignty remains compromised. This has created fertile ground for anti-imperialist rhetoric, often championed by populist actors and military juntas who exploit these grievances to gain legitimacy.
The Return of Soldiers to Politics: The last decade has seen a resurgence of military takeovers in the region. Coups in Mali, Guinea, Burkina Faso, Niger, representing a largest coup belt in the world, and recently attempted interventions in Benin- a socio-political enigma and Guinea Bissau- the region’s narco-state, reflect a collapse of public trust in democratic systems perceived as kleptocratic, ineffective, and elite-controlled. Many West Africans, frustrated by insecurity, poverty, and government failure, initially welcomed soldiers as “corrective forces.” But military rule often replaces one form of authoritarianism with another and characterised by restricted freedoms, politicized security apparatus, uncertain transition timelines, limited economic vision and opportunity, heavy reliance on foreign military partners (Russia, Turkey, Gulf states) and debt, overshadowed by a youth bulge threatening to burst at the seams. e. Thus, the promise of liberation from imperialism frequently gives way to new dependencies and domestic authoritarianism, and ultimately, policy incoherence, confusion and instability.
The Choiceless Choice: The tragedy is that citizens are forced to choose between very difficult and perhaps inferior alternatives: Imperialism, which undermines sovereignty and reinforces structural inequalities, the electoral despotism- where power remains concentrated within a cabal or small host of elites, and Military rule, which suspends constitutional order and democratic rights. All option addresses the core issues driving instability: weak governance, unemployment, fractured national identities, extremist threats, and the absence of economic diversification. In this vacuum, West Africans face a situation where every available choice feels imposed, not freely made.
The Geopolitical Chessboard: Part of the crisis stems from the region’s growing importance in global geopolitics. West Africa has become a stage for competition among major powers: France and the EU seek to preserve influence, The United States prioritizes counterterrorism, Russia positions itself as an anti-West alternative, China expands via infrastructure loans, and the eventual confiscation of strategic minerals anchored in the blue and green economies, Gulf states and Turkey enter with economic and military interests and the list continues to expand. These competing agendas pull governments in different directions, leaving citizens with little say over the region’s strategic direction.
The Decline of Democratic Credibility: Democracy in West Africa is in crisis not merely because of coups, but because a leadership pandemic. The region has a critical and morally bankrupt leadership. of Manipulated constitutions, electoral fraud, corruption scandals, and impunity have hollowed out institutions. When democratic governments fail to deliver development or justice, the military’s rhetoric of “rescue missions” becomes appealing. Yet these interventions ultimately produce another cycle of disillusionment.
What Real Sovereignty Requires: Breaking this cycle demands a new political imagination—one rooted in African agency, not external dictates or military paternalism. A pathway to genuine sovereignty includes: Strengthening democratic institutions beyond elections, economic independence, especially through value-added industries, regional security cooperation less reliant on external forces, civic education and accountability systems, that are citizenry driven, that restore public trust, as well as a pan-African political consciousness capable of resisting both imperial pressure and internal authoritarianism. The future depends on reclaiming democracy as a tool of liberation, not a façade for elite capture.
Conclusion: West Africa’s tragedy is not that it lacks alternatives, but that the region’s political trajectory has become trapped between two dominant and deeply flawed forces. Imperialism continues to shape its geopolitics and economy, while military rulers exploit public frustration to consolidate power. Together, they create a choiceless political reality where citizens struggle to find a path that protects both sovereignty and freedom. Yet within this crisis lies an opportunity: the chance to articulate a new political vision grounded in bold leadership, accountable governance, and regional solidarity. Reimagining democracy means going beyond periodic elections. It means nurturing institutions that are stronger than individuals and ensuring that power remains accountable to the people. It means prioritizing people’s power over that of statesmen, strengthening judicial independence, fortifying the institutions meant to protect democracy and ensuring that the exercise of power after elections truly serves citizens. Only then can West Africans move beyond the suffocating binary of imperialism and soldiers—and reclaim the right to choose their own future.
Chukwuemeka B. Eze is the Director for Democratic Futures in Africa and Jeggan Grey Johnson, Advocacy Advisor at the Open Society Foundations
Between Imperialism and Military Rule: The Choiceless Political Reality in West Africa
News
New drug test policy for schools will cut down substance abuse among youth – Marwa
New drug test policy for schools will cut down substance abuse among youth – Marwa
By: Michael Mike
Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA) Brig. Gen. Buba Marwa (rtd) has said that the newly launched drug test policy for schools in Nigeria will discourage illicit substances abuse by young Nigerians especially those aspiring for higher education.
Marwa stated this weekend when he received the Vice Chancellor of the Taraba State University, Professor Sunday Bako who led a team of his management staff to seek partnership with the anti-narcotics agency on the fight against substance abuse and illicit drug trafficking.
The NDLEA boss, said: “We’re glad to work and partner with you, your university and the Taraba state government on this matter and it’s a good thing that what you’re doing aligns with the new national policy for tertiary institutions that includes compulsory and random drug integrity tests for students. This initiative is a joint effort between the Federal Ministry of Education and the National Drug Law Enforcement Agency (NDLEA) to combat substance abuse among young people in schools across the country.

“At the NDLEA, we have been pushing for this and we’re happy we have a dependable partner in the Minister of Education and members of his team who worked with us and supported us on this. This is not in anyway punitive but a strategic push that will largely discourage our youths from going into substance abuse because they know at every stage of their education, they will face compulsory drug test.
“We are fully prepared to work with all schools to ensure the success of this great initiative that will make positive impact on youth development, security and national productivity in line with the renewed hope agenda of President Bola Tinubu.”
He commended the VC for leading the pack by establishing a full Directorate of Narcotics and Drug Abuse Prohibition in the institution, with a promise to support his efforts through capacity building training and other areas of collaboration.
In his remarks, Bako commended the Marwa leadership of NDLEA for its professionalism, openness and collaborative spirit, which has earned the agency both national and international accolades.
He said: @We are particularly pleased to visit at a time when your excellent and unwavering commitment in the fight against drugs and illicit substances abuse/trafficking earns you another five years of tenure renewal. Your relentless efforts in combatting substance abuse have contributed significantly to protecting our youths and preserving the future of our nation.”
He noted that his visit was borne out of his concern about the challenge of drug and substance abuse among young people, which poses serious threat to academic excellence, moral values, and national development.
The VC said: “This visit seeks to strengthen the relationship between Taraba State University, Jalingo and the National Drug law Enforcement Agency which started way back since 22nd August, 2024 during the inauguration of the Directorate of Narcotics and Drug Abuse Prohibition and the launch of WADA by the NDLEA Taraba state command, as well as the TSU Drug Free Club patrons/officials.
“We firmly believe that effective drug control and prevention require a multi-sectoral approach involving law enforcement agencies, academic institutions, and the wider society.
In this regard, Taraba State University is eager to partner with your agency in areas such as collaborative research on drug abuse and substance use disorder, policy-oriented studies, public enlightenment and sensitization programmes, capacity building training, student internship opportunities, and community outreach initiatives within Taraba state and beyond. Partnership with the NDLEA will further strengthen our institutional policies and programmes in this critical area.”
New drug test policy for schools will cut down substance abuse among youth – Marwa
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