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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
Zulum Disburses ₦2bn Starter Packs to 2,970 Trained Borno Youths in Massive Empowerment Drive
Zulum Disburses ₦2bn Starter Packs to 2,970 Trained Borno Youths in Massive Empowerment Drive
By: Michael Mike
Governor Babagana Zulum on Tuesday rolled out a ₦2.05 billion empowerment package for 2,970 young people trained in vocational skills across Borno State, marking a major push in the state’s transition from humanitarian recovery to economic rebuilding after more than a decade of insurgency.
The beneficiaries, who graduated from nine modern vocational enterprise institutes and centres established by the Zulum administration, received comprehensive starter packs and business kits designed to enable immediate take-off of small and medium-scale enterprises.

The ceremony, held at the Muna Vocational Enterprises Institute in Maiduguri, drew senior government officials, lawmakers and technical education stakeholders, underscoring the scale and strategic importance of the intervention.
Addressing the gathering, Zulum described youth empowerment as a cardinal pillar of his administration, particularly in a state where insurgency disrupted livelihoods, deepened unemployment and left thousands of young people vulnerable.
He said the government deliberately prioritised skills acquisition and entrepreneurship as sustainable pathways to restore dignity and rebuild productive capacity.
“We remain mindful of the devastating effects of insurgency on our communities,” Zulum stated. “It became imperative for government to implement sustainable interventions aimed at restoring dignity, creating opportunities and rebuilding productive capacity among our people.”

The governor noted that since 2019, his administration has established five major vocational enterprise institutes in Muna, Mafa, Biu, Shani and Magumeri, reactivated nine vocational training centres, and set up three Second Chance Skills Entrepreneurship Schools targeted at women and girls.
He disclosed that over ₦40 billion has been invested in building, rehabilitating and equipping vocational institutes, training centres and technical colleges across the state. According to him, the investment aligns with a broader Technical and Vocational Education and Training (TVET) strategy aimed at reducing the number of out-of-school youths, promoting self-reliance and creating a skilled workforce capable of contributing to the state and national economy.
The graduates were trained in high-demand sectors such as information technology, construction, plumbing, tailoring, welding and other artisan trades, reflecting the state’s intention to match training with market realities.

Earlier, Commissioner for Education, Engr. Lawan Abba Wakilbe, said the initiative was a direct product of Governor Zulum’s vision to empower conflict-affected youths with practical, employable and entrepreneurial skills.
He explained that the programme was conceived as part of a broader social and economic rebuilding agenda to support vulnerable groups, particularly young people and women whose lives were disrupted by years of insecurity.
The event was attended by the Executive Secretary of the National Board for Technical Education, Professor Idris Bugaje; Senators Mohammed Tahir Monguno, Mohammed Ali Ndume and Kaka Shehu Lawan; Secretary to the Borno State Government, Bukar Tijani; Acting Chief of Staff, Babagana Mallumbe, among other dignitaries.
With the distribution of the ₦2 billion starter packs, the Borno State Government signalled a deliberate shift from short-term relief interventions to long-term economic empowerment, positioning youth entrepreneurship as a central driver of stability, growth and lasting peace in the state.
Zulum Disburses ₦2bn Starter Packs to 2,970 Trained Borno Youths in Massive Empowerment Drive
News
Send Your Kids To Acquire Technical Education Now……Zulum
Send Your Kids To Acquire Technical Education Now……Zulum
By: Bodunrin Kayode
Borno Governor Professor Babagana Zulum has called on residents to send their wards into the technical vocational and education training (TVET) centre for them to acquire skills for livelihood.
He regretted that there are about nine vocational enterprise institutes/ centres in Borno state but young people are not responding to the opportunities that abound in these training centres the way he felt they should embrace it.

The Governor who attended the graduation ceremony of 2,970 trainees Tuesday at the vocational enterprise institute Muna in the outskirts of Maiduguri said he hardly shed tears over anything but the way the young people dismiss the opportunities offered by these centres sometimes make him to tear up.
Speaking in Hausa to the locals present, he went on ” Look I established centres like this one here, in Mafa and all over the state but sadly the young ones are painfully snubbing these places which is there to change their lives and teach them how to fish.
” I hardly shed tears easily but each time I watch our young ones who need these opportunities snubbing what we brought for them to benefit, I feel bad indeed. It makes me feel like shedding tears.

” This is why I am begging you to please hurry up and ensure you enroll your children to grab this opportunity which is lined up for them now that it lasts.”
He assured the Executive Secretary of the National Board for Technical Education (NBTE), Professor Idris Bugaje that Borno will continue to lead in the TVET centre module of training for as long as there are out of school kids and orphans littering the metropolis and the countryside.
He assured the NBTE boss that Borno is not yet done with his agency adding that he will surely find a way to sit down and work something out that would be beneficial to the state on the long term basis.

Zulum posited that a situation in which a serious business man like Dangote will have to bring in as many as 11,000 technicians from India to boast production in his refinery when young Nigerians would have taken such position is sad.
The Governor warned parents that they have only five years left to think about the offers in the centres and enroll their kids so that they too will become beneficiaries of the goodies offered by the system.
At the end of the speech making session, Gov Zulum, awarded 100,000 naira each to the 2,970 beneficiaries who completed their intensive vocational training across the state.
Zulum equally distributed starter packs and business kits valued at ₦2,050,000,000 to the graduates, aimed at equipping them to establish their own enterprises to become self-employed almost immediately.

The beneficiaries were drawn from the nine vocational training institutes located across Borno State offering skills in fields such as information technology, plumbing, construction, tailoring, welding and various artisan trades.
Governor Zulum, while addressing the gathering, reiterated his administration’s commitment to supporting young people, particularly those affected by over 10 years of insurgency in the state.
“Distinguished ladies and gentlemen, one of the cardinal priorities of this administration has been youth empowerment and the protection of vulnerable members of our society. We remain mindful of the devastating effects of insurgency on our communities, which disrupted livelihoods, increased unemployment and exposed many young people to uncertainty and hardship.
“It became imperative for the government to implement sustainable interventions aimed at restoring dignity, creating opportunities and rebuilding productive capacity among our people.
“It is with great honour and a deep sense of fulfilment that I address this distinguished gathering on the occasion of the graduation and presentation of starter packs to 2,970 trainees drawn from nine vocational enterprises institutes and centres across Borno State.
“In addition, we reactivated nine vocational training centres and three second chance skills entrepreneurship schools dedicated to women and girls.” Said Zulum.
The Governor said that the institutes prioritises the enrolment of vulnerable individuals, particularly those affected by insurgency and provide structured training in diverse vocational and technical trades to enhance employability and economic independence.
Prof Zulum revealed that, his administration had invested over ₦40 billion in the establishment, rehabilitation, and equipping of vocational enterprises institutes, vocational training centres and technical colleges across Borno State since he was sworn into office.
According to Zulum, this strategic investment is aimed at reducing the number of out-of-school youths, promoting self-reliance and developing a skilled workforce capable of contributing meaningfully to both the state and national economy through Technical and Vocational Education and Training (TVET).
Commissioner for Education, Lawan Wakilbe, explained Zulum’s vocational training concept, which he noted is a direct product of the visionary leadership and unwavering commitment of the Governor whose administration recognises the urgent need to empower youths with practical, employable and entrepreneurial skills.
The initiative he stressed is equally part of the Governor’s broader agenda to promote self-reliance, restore dignity, rebuild livelihoods, particularly among conflict-affected youths, women and vulnerable members of the society.
Send Your Kids To Acquire Technical Education Now……Zulum
News
FRSC moves to enforce discipline, professionalism
FRSC moves to enforce discipline, professionalism
The Federal Road Safety Corps (FRSC) on Tuesday, sensitised its personnel in Gombe State to enhance discipline, professionalism, and service delivery.
Corps Marshal, Shehu Mohammed while engaging with personnel at the FRSC Gombe Sector Command said the initiative was borne out of the need to respond to recent operational reports that reveal trends “we cannot and will not ignore.”
Mohammed who was represented by an Assistant Corps Marshal Ezekiel SonAllah said the Corps had observed a disturbing decline in discipline and professionalism.
He said that those lapses had manifested as misconduct, unethical practices, abuse of authority, extortion, reckless enforcement behaviours and other actions that contradicted its mandate and were steadily eroding public trust in the Corps.
The Corps Marshal reminded the personnel that such behaviours were not only unacceptable but endangered the credibility and reputation of the Corps.
“Every time a road user loses confidence in us, our mandate becomes harder to achieve; every act of unprofessional conduct damages the image of thousands of disciplined staff and every abuse of authority weakens the trust built over decades,” he stressed.
Mohammed further told personnel that discipline was not punishment but protection, as “ It protects our reputation, our careers, the Corps and ultimately the lives of Nigerians who depend on us daily.”
According to him, professionalism to the Corps is mandatory and not optional.
The Corps Marshal also warned personnel against extortion, harassment and abuse of authority, emphasising that such acts were illegal and would not be tolerated.
He expressed optimism that the engagement with personnel would help restore the highest standards of discipline, rebuild public confidence, towards making the Corps an enduring symbol of professionalism and integrity.
Our Correspondent reports that the theme of the sensitisation is “Discipline, Reinforcement and Strengthening of Command and Control in the Field Commands.”
Recall that FRSC, in February, dismissed 43 of its personnel over offences bordering on desertion, scandalous conduct and patrol-related misconduct.
The move was described by the Corps as a firm demonstration of its zero tolerance for indiscipline and ethical breaches.
FRSC moves to enforce discipline, professionalism
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