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
ISWAP scamper in disarray as NAF, ground troops repel attack on Banki in Bama LGA
ISWAP scamper in disarray as NAF, ground troops repel attack on Banki in Bama LGA
By: Zagazola Makama
Fighters of the Islamic State West Africa Province (ISWAP) reportedly fled in disarray on Friday after troops of Operation Hadin Kai, supported by the Nigerian Air Force (NAF), successfully repelled an attempted attack on a military base in Banki, Bama Local Government Area of Borno.
Security sources told Zagazola Makama that the insurgents launched the attack in the early hours of Friday, advancing in large numbers in an attempt to overrun the military formation.
The sources said the troops immediately engaged the terrorists in a fierce gun battle, effectively resisting the assault and preventing the insurgents from breaching the base.
According to the sources, while the exchange of fire was ongoing, the Nigerian Air Force scrambled an aircraft to provide aerial support to the ground troops.
“On sighting the approaching aircraft, the terrorists took to their heels and were seen scampering in disarray into nearby bushes to escape the superior firepower of the troops and the air component,” one of the sources said.
The sources added that the attempted attack was successfully foiled, forcing the insurgents to abandon the operation.
There were no immediate reports of casualties as security forces have commenced assessment and clearance operations in the area.
Banki, a border town near Cameroon in Bama LGA, remains one of the key frontline locations in the ongoing counter-insurgency campaign in Borno.
ISWAP scamper in disarray as NAF, ground troops repel attack on Banki in Bama LGA
News
Freight forwarders protest arbitrary shipping charges at Apapa ports
Freight forwarders protest arbitrary shipping charges at Apapa ports
By: Zagazola Makama
The National Association of Government Approved Freight Forwarders (NAGAFF) has raised concerns over what it described as arbitrary and unilateral increases in shipping charges by some shipping companies at the Apapa ports in Lagos.
The grievances were contained in a letter addressed to the Executive Secretary of the Nigerian Shippers Council, Park Lane, Apapa, and copied to the Commissioner of Police, Ports Authority Police (Western Command), Apapa.
The letter, titled “Administrative Overreach: The Non-Consensual and Arbitrary Increase of Shipping Charges in Breach of Established Procedure and Protocol,” was received at about 2:30 p.m. on March 12.
Following the complaint, the Commissioner of Police, Ports Authority Police Western Command, Apapa, convened a meeting with the leadership of NAGAFF to discuss the issue.
Those in attendance included Mr Bert Okeke, Secretary and representative of the NAGAFF Chairman, Alhaji Ibrahim Tanko; Mr Uche Nwabude, Operational Head; and Chief Raf Nwoye, Technical Director at the association’s headquarters, alongside eight other members.
During the meeting, the NAGAFF leaders expressed dissatisfaction over the alleged immediate and unilateral upward review of shipping charges by some companies without prior notification to freight forwarders and other service users.
They described the development as a breach of established procedures guiding port operations and trade facilitation.
In her response, the Commissioner of Police, Ports Authority Police Western Command, commended the association for following due process by engaging relevant stakeholders and bringing the matter to the attention of authorities.
She urged the union leaders to remain law-abiding and advised them to notify the police and obtain approval before embarking on any picketing or protest actions.
The police chief also encouraged the association to suspend any planned industrial action pending efforts by the Nigerian Shippers Council to mediate and resolve the dispute.
She further called for sustained synergy, collaboration and consolidation between the police and stakeholders in the maritime sector to ensure smooth trade facilitation at the ports.
The meeting ended at about 3:25 p.m.
Freight forwarders protest arbitrary shipping charges at Apapa ports
News
“When two elephants fight, it is the grass that suffers”- The Case of Iran Israel United States Conflict
“When two elephants fight, it is the grass that suffers”- The Case of Iran Israel United States Conflict
By: Michael Mike
From the ancient Persian world to the Swahili coast of Africa, the story of Iran is not merely political—it is civilizational. The current conflict therefore raises questions not only about power, but about history, justice and humanity itself.
In Africa, a well-known proverb captures a timeless truth: “When two elephants fight, it is the grass that suffers.” Across the wider African continent, this saying reminds us that when powerful actors collide, it is ordinary people—families, children and communities—who bear the greatest cost.

Today, as tensions escalate across West Asia and military strikes attributed to the United States and Israel target the Islamic Republic of Iran, the world is witnessing a confrontation that extends far beyond the calculations of geopolitics.
To strike Iran is not merely to confront a modern state. It is to challenge one of the oldest living civilizations on Earth—a civilization whose cultural, intellectual and spiritual influence has shaped vast regions of the world for more than three thousand years.
A Civilization Older Than the Modern World
Long before the modern geopolitical map of the Middle East existed, the Iranian plateau had already produced organized states, complex administrative systems and vibrant intellectual traditions.

From the Achaemenid Empire of Cyrus the Great to the flourishing cultural centers of Shiraz and Isfahan, Persian civilization helped shape literature, science, philosophy and political thought across the Mediterranean world, Central Asia and the Indian Ocean basin.
Unlike many later imperial powers whose expansion relied on colonization, resource extraction and the brutal transatlantic slave trade, Persia’s historical influence travelled largely through knowledge, trade and cultural exchange.
This legacy of interaction links Iran not only to Asia but also to Africa.

The Persian Handshake with Africa
Centuries before European colonial powers partitioned the African continent, Persian merchants were already sailing the monsoon winds of the Indian Ocean toward the Swahili coast.
They arrived not as conquerors but as traders, scholars and cultural intermediaries.
From present-day Somalia to Mozambique, Persian traders established networks of commerce and intellectual exchange with the Swahili city-states. Maritime knowledge, architecture, poetry and urban culture travelled across these routes alongside textiles and spices.
The interaction was never one-sided. African societies reshaped and integrated these influences into their own traditions, creating a distinctive Afro-Asian cultural synthesis that still characterizes the region today.

Even the Kiswahili language, rooted in Bantu linguistic traditions, reflects centuries of interaction with Persian and other Indian Ocean cultures.
In this sense, the story of Iran is not distant from Africa—it is intertwined with it.
The Islamic Revolution and the Ethics of Defending the Oppressed
In 1979, Iran once again became the stage for a unique historical transformation.
The Islamic Revolution did not attempt to erase Iran’s ancient past. Instead, it sought to frame a deeply rooted civilization within a moral vision centered on justice, independence and the defense of the oppressed.
Imam Ruhollah Khomeini, the founder of the Islamic Republic, articulated a political philosophy that placed the protection of the Mustazafin—the oppressed and marginalized—at the heart of the revolution’s mission.
One of the most enduring expressions of this principle was his declaration of the last Friday of Ramadan as International Quds Day, inviting people around the world to remember the plight of the Palestinian people.
This ethical perspective continued under the leadership of Ayatollah Sayyid Ali Khamenei, who consistently framed the Palestinian question not merely as a geopolitical dispute but as a matter of moral responsibility and global justice.

For many observers, this unwavering support for Palestinian rights remains one of the central sources of tension between Iran and its adversaries.
Jerusalem: A Sacred City for Humanity
From the perspective of religious scholarship, Jerusalem—known in Arabic as Al-Quds—occupies a unique place in the spiritual geography of humanity.
It is sacred not only to Muslims but also to Christians and Jews.
Within its ancient walls stand some of the most revered sites of the Abrahamic traditions: Al-Aqsa Mosque, the Church of the Holy Sepulcher, and the Western Wall.
For scholars of comparative religion, Jerusalem represents not an exclusive possession but a shared spiritual heritage.
The respected Christian leader Archbishop Desmond Tutu once captured this moral principle in words that resonate across faith traditions:
“If you are neutral in situations of injustice, you have chosen the side of the oppressor.”
The Human Question of Self-Defense
Against this historical and moral background, the present conflict raises difficult questions.
Reports from the early days of the war describe devastating strikes, including the bombing of an elementary school in which 168 children between the ages of eight and twelve reportedly lost their lives.
Such tragedies challenge the conscience of the international community.
Under what interpretation of international law can the killing of children be justified?
Under which definition of human rights can such actions be normalized?
History already offers troubling precedents. In Gaza, years of conflict have resulted in the deaths of tens of thousands of civilians.
Yet beyond statistics lies a simple human question.
If the Pope were assassinated in the Vatican, or if your own home were attacked and your father killed before your eyes, would any society remain silent?
Nations, like families, possess a natural instinct for self-defense. When confronted with aggression, the desire to resist is not extremism—it is dignity.
Strategic Consequences beyond Iran
The implications of this confrontation are unlikely to remain confined within Iran’s borders. History repeatedly shows that conflicts ignited in one part of the Middle East rarely remain geographically contained.
Military escalation against a major regional power such as Iran risks widening an already fragile landscape of instability across West Asia.
When the sovereignty of states can be openly violated and civilian infrastructure becomes a battlefield, the consequences rarely stop at a single frontier. They ripple outward—affecting regional security, global diplomacy and the fragile hopes of societies already burdened by decades of conflict.
Africa’s Moral Memory
For Africa, these questions are not abstract. The continent carries its own deep memory of colonial domination, resistance and the struggle for dignity.
The late South African leader Nelson Mandela expressed this moral connection clearly:
“We know too well that our freedom is incomplete without the freedom of the Palestinians.”
Mandela’s words remind us that justice is indivisible.
From Johannesburg to Nairobi, from Tehran to Jerusalem, the principle remains the same: when a people stand against oppression, they defend not only territory but human dignity.
Cultural Expert
Embassy of the Islamic Republic of Iran in Abuja, Nigeria
“When two elephants fight, it is the grass that suffers”- The Case of Iran Israel United States Conflict
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