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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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Spate in Bloodshed in the North: KACRAN Calls for Diplomatic Solution

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Spate in Bloodshed in the North: KACRAN Calls for Diplomatic Solution

By: Michael Mike

As fresh waves of violence leave communities in mourning across Northern Nigeria, the Kulen Allah Vitality Self-Reliance Association (KACRAN) has called for an immediate diplomatic surge to end the spiraling insecurity that has claimed more than 200 lives in recent attacks in Niger and Kwara states.

In a statement issued on Sunday, the association condemned what it described as a relentless cycle of killings, kidnappings and livestock rustling that has devastated families and crippled rural economies.

It also decried the reported abduction of 176 persons in parts of Kwara State, urging security agencies to ensure their swift and unconditional release.

KACRAN said while the military has continued to confront armed groups across the region, force alone cannot deliver lasting peace.

“Permanent peace is built on trust, dialogue and unity of purpose, not bullets alone,” the association said, warning that prolonged militarisation of internal conflicts risks creating more complex and entrenched crises.

The group acknowledged ongoing security interventions under President Bola Tinubu and commended the leadership of the National Security Adviser, Nuhu Ribadu, as well as the Chief of Defence Staff, Christopher Musa.

It praised the sacrifices of troops on the frontlines but expressed concern that despite a defence budget exceeding N5 trillion in 2026, attacks continue in several communities.

According to KACRAN, the persistence of violence suggests the need for a complementary political and diplomatic framework to address the root causes of instability, including poverty, youth unemployment, communal mistrust and competition over land and grazing resources.

The association proposed what it termed a “diplomatic roadmap” anchored on three key pillars: coordinated leadership among Northern governors and stakeholders; structured dialogue to rebuild trust between affected communities; and economic reinvestment in agriculture and youth empowerment.

It stressed that redirecting resources toward job creation, infrastructure and holistic agricultural development — spanning crop farming, livestock and fisheries — would undercut the economic incentives driving criminality.

“Peace and security in the North is the bedrock of peace in Nigeria,” said Hon. Khalil Bello, National President of KACRAN, urging Northern leaders to close ranks and take collective responsibility for restoring stability.

The North has faced years of overlapping security challenges, from banditry and kidnapping to farmer-herder clashes and organized criminal networks. Entire villages have been displaced, schools shut down and farmlands abandoned, worsening food insecurity and economic hardship.

Security analysts note that while military operations have recorded tactical successes, the absence of sustained dialogue and socio-economic reforms has allowed violence to resurface in cycles.

KACRAN warned that Nigeria must avoid the prolonged instability seen in conflict-ridden nations, emphasizing that unity and inclusive engagement remain the only viable path to sustainable peace.

Spate in Bloodshed in the North: KACRAN Calls for Diplomatic Solution

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Nigerians in Diaspora Commission Boss Demands Justice Over Killing of Nigerian Driver in South Africa

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Nigerians in Diaspora Commission Boss Demands Justice Over Killing of Nigerian Driver in South Africa

By: Michael Mike

The Chairman/Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, has strongly condemned the killing of a 22-year-old Nigerian e-hailing driver, Isaac Satlet, in Pretoria, South Africa, describing the incident as deeply troubling and unacceptable.

In a statement issued in Abuja on Sunday, Dabiri-Erewa called on South African authorities to ensure the immediate arrest and prosecution of all those involved in the crime. She said the recurring cases of violence and criminal attacks against Nigerians living in South Africa have become a serious source of concern.

The NiDCOM boss noted that Nigeria and South Africa share a long history of diplomatic, economic and historical ties, rooted in solidarity during the anti-apartheid struggle, however expressing disappointment that despite this relationship, some individuals continue to perpetrate violent crimes against fellow Africans.

Dabiri-Erewa urged South African authorities to guarantee the protection of lives and property of non-indigenes, stressing that justice must not only be done but be seen to be done in the case of the murdered driver.

She reiterated the Commission’s resolve to strengthen rapid response protocols and institutionalise structured escalation mechanisms for handling diaspora-related emergencies. According to her, NiDCOM will intensify risk mapping strategies and deepen structured engagement with host authorities to improve the safety of Nigerians abroad.

Meanwhile, South African police have reportedly arrested a female suspect in connection with the brutal murder of Satlet, which occurred on February 11, 2026, in Pretoria West. The suspect is expected to appear before the Atteridgeville Magistrate’s Court on February 16, 2026, on charges of car hijacking and murder.

Police reports indicate that Satlet had picked up two passengers — a male and a female — through an e-hailing platform before he was attacked and his vehicle hijacked. His body and the stolen car were later discovered in Atteridgeville.

Dashcam footage reportedly captured part of the incident and played a crucial role in the swift arrest of the female suspect. Authorities are still searching for the male suspect, with further arrests anticipated.

The killing has sparked widespread outrage within the Nigerian community in South Africa and back home, with renewed calls for improved safety measures for e-hailing drivers who often operate in high-risk environments.

Satlet, described by friends and associates as hardworking and ambitious, was a student preparing to graduate next month. He had reportedly planned to pursue further studies in Canada, making his death even more devastating for his family and loved ones.

Over the past decade, diplomatic relations between Nigeria and South Africa have occasionally come under strain due to recurring xenophobic attacks and criminal incidents involving foreign nationals, including Nigerians. Several bilateral meetings and joint commissions have been convened to address concerns over citizens’ safety and promote cooperation on migration and security issues.

NiDCOM, established to engage and protect Nigerians in the diaspora, has repeatedly advocated structured frameworks with host countries to respond swiftly to emergencies affecting Nigerian nationals abroad. The Commission has also called for improved documentation, safety awareness, and collaboration between diaspora groups and local law enforcement agencies.

Dabiri-Erewa reaffirmed that while Nigeria respects the sovereignty of South Africa, the safety and protection of Nigerian citizens abroad remain non-negotiable.

Nigerians in Diaspora Commission Boss Demands Justice Over Killing of Nigerian Driver in South Africa

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Kidnapped worshippers of St. John Catholic Church regain freedom in Benue, four suspects arrested

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Kidnapped worshippers of St. John Catholic Church regain freedom in Benue, four suspects arrested

By: Zagazola Makama

The Benue State Police Command has confirmed the release of worshippers abducted during a night vigil at St. John Catholic Church, Ojeji, in Ado Local Government Area of the state.

Sources disclosed that the victims were freed unhurt following sustained search and rescue operations mounted by security operatives in the area.

In connection with the incident, two suspects, Abubakar Jibril and Ashiru Ibrahim, were earlier arrested on Feb. 11, 2026, by the Divisional Police Officer (DPO) in Ado. The suspects were reportedly found in possession of five rounds of 7.62mm ammunition at the time of their arrest.

Further follow-up operations by the Intelligence Response Team (IRT) from Abuja, in collaboration with tactical teams, led to a raid on a hideout linked to one of the suspects. During the operation on Feb. 14, an AK-47 rifle and eight rounds of 7.62mm ammunition were recovered, while two additional suspects were arrested.

The suspects are believed to be involved in the kidnapping of worshippers during the church’s night vigil.

Authorities said investigations by the State Criminal Investigation Department (SCID) and the IRT are ongoing, with efforts intensified to track down other members of the syndicate.

Kidnapped worshippers of St. John Catholic Church regain freedom in Benue, four suspects arrested

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