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
Women Farmers Say Nigeria Faces Severe Hunger with Proposed Budget to AgricultureAdvocate for 10% of Budget to Agriculture

Women Farmers Say Nigeria Faces Severe Hunger with Proposed Budget to Agriculture
Advocate for 10% of Budget to Agriculture
By: Michael Mike
The women under the umbrella body of Small-scale Women Farmers Organisation in Nigeria (SWOFON) have called for an upgrade in the proposed budget for agriculture, noting amount proposed for 2025 recorded a decline of 36.19% from N996.901 billion in 2024 to N633 billion.
They noted that it may further drive the country into hunger and a let off from President Bola Tinubu’s promise to alleviate poverty and hunger in the country.
The group which briefed alongside the Comprehensive Africa Agriculture Development Programme (CAADP), a non-state actor, noted that the country is currently in a precarious situation that needs great investment rather than reduction.
The groups therefore urged President Bola Tinubu to address what they called insufficient allocation to the agricultural sector to address food security and hunger in the land.
They argued that the current proposed budget represented 1.28 percent of the entire proposed over N53 trillion budget.
They said the 2025 budget proposal for the sector therefore represents 36.19% decline. The sector got 2.84% allocation in the 2024 budget with N996.901 billion.
The group stressed that: “You can’t be increasing the national budget and also be reducing the agricultural budget. And we are clamouring for security in the sector.
The government should give more money to agriculture to support farmers, especially women and small-scale farmers. The government should also plan better to make sure that the agricultural sector plans are aligned with the National Agricultural Technology and Innovation Policy.”
They urged that the government should declare a state of emergency in the agricultural sector, stressing that every government pronouncement or policy pronouncement also has economic implications.
They said: “We are calling on the government to declare a state of emergency and also that the allocation for the sector is poor.
“We are trying to draw their attention. We are not trying to put the blame on anybody but the necessary departments that are working on the budget should be able to draw the attention of the Federal Government and say that the allocation for this sector on key farmers that are practising in the field is unacceptable. And that is why we are here to say let them look at it the second time before they do the final passing, which there is still room for that.”
They called for 10% of the budget to be set aside for agriculture. “These are what we are advocating for in accordance with the Maputo declaration.
“So, against the 10%, we are not even moving close. We are moving far away from the 10% allocation that we want the president to even start, not to even talk about more.”
The group made the following demands from the government for the country to be able to address food insecurity and hunger in the country.
“ There is a need to increase the budget allocation to the FMAFS in the 2025 budget of the federal government of Nigeria. This is necessary as funding gaps were observed in critical areas of investment, ranging from extension services and access to farm inputs to investment in smallholder women farmers, as well as in addressing the various aspects of climate change and agroecology that are affecting the optimal performance of the agricultural sector. The need for enhanced funding is also necessitated by the 1.28% of the total federal government budget committed to the sector against the 10% that is recommended by the Maputo Declaration. This will enhance the capacity of the ministry to coordinate and support actions to attain food and nutrition security in Nigeria. Engagement with subnational governments in this direction to shore up their funding efforts will also be essential.
“Whereas every programme and project of the FMAFS should feed into the implementation of the NATIP, evidence from the projects and programme provided for in the 2025 budget proposal of the ministry shows only 34% alignment in this direction.
“There is a need for the FMAFS to ensure that planning for the sector is anchored on the NATIP policy. This will ensure a strong plan-budget link that will deliver on the overall goal for the sector, including attaining the SDG 2.
“Budgetary allocations should be increased and should go to strategic areas of investments which include Extension Services, Access to Credit, Women in Agriculture, Youth in Agriculture, Appropriate Labour-Saving Technologies, Inputs, Post-Harvest Losses Reduction Supports (processing facilities, storage facilities, trainings, market access, etc.), Irrigation, Climate Resilient Sustainable Agriculture (CRSA)/Agroecology, Research and Development, Monitoring and Evaluation, as well as Coordination.
“The allocation to the National Agricultural Development Fund (NADF) should be increased as NADF is an important aspect of the NATIP and also vital for the overall development of the agricultural sector, but 97% of its capital should not be allocated for the Renewed Hope Fertilizer Support Program. Allocation for capital expenditure for NADF should be targeted to achieving the commitments in the President’s declared state of emergency on the food security situation in the country, therefore should focus on Extension Services, Access to Credit, Women in Agriculture, Youth in Agriculture, Appropriate Labour-Saving Technologies, Inputs, Post-Harvest Losses Reduction Supports (processing facilities, storage facilities, trainings, market access, etc.), Irrigation, Climate Resilient Sustainable Agriculture (CRSA)/Agroecology. It is also vital to ensure timely and total releases to the NADF.”
Women Farmers Say Nigeria Faces Severe Hunger with Proposed Budget to Agriculture
Advocate for 10% of Budget to Agriculture
News
Yobe State Govt. Seeks Sabbatical, Exchange Programmes in Moroccan University

Yobe State Govt. Seeks Sabbatical, Exchange Programmes in Moroccan University
By: Mamman Mohammed
Yobe state government has initiated partnership with Mohammed VI University, Ben Guerir, Morocco, to secure sabbatical and school exchange programmes for staff and students.
The state delegation made the proposal on Thursday during a visit to the university.
The corporate Communications Director Lamia Idbilti, said the institution is currently running 160 partnership programmes and would be glad to add Yobe state.
She explained that, the university offers staff and students direct sponsorships and exchange programmes for first degrees, Masters and Doctorate programmes.
Lamia added that the prospective beneficiaries have opportunities to study agriculture, Medical Sciences, Computer Engineering, Architecture, Green technology, Humanity and Hospitality among others.
The Director said the partnership would also benefit the state in Science Energy and Nano Engineering to develop green energy.
“As a developing economy, Yobe State has to start investing in this regard because it is the issue of the moment that needs proactive measure”.
Baba Malam Wali, Secretary to the State Government and head of the delegation, said Yobe state government would explore the opportunity to support staff of higher institutions in the state to enjoy sabbatical programmes in the University.
“Government would strive to meet the required conditions for our lecturers to go on sabbatical and for the students to enjoy the exchange and sponsorship programmes” he said.
The state Commissioner for Higher Education, Prof. Mohammed Bello Kawuwa, described the partnership as an excellent opportunity for capacity building of our staff and students.
“These are mostly entrepreneurial courses that are marketable with Prospects for direct employment generation and wealth Creation” Prof. Kawuwa said.
Alh. Ahmed Shuaibu Gara- Gombe, Chief Executive Officer of the consulting firm, African Network Center, said the firm was moving ahead of time to complete the partnership procedures.
“We have no time to waste, we are moving fast to solidify the dialogue to set the partnership in motion.
“It is the ambition of all parties to see that this partnership materialises in earnest to secure the admission for both the staff and students to commence the programmes” Ahmed said.
Yobe State Govt. Seeks Sabbatical, Exchange Programmes in Moroccan University
International
EU Funds Programmes to Develop Competencies, Politics

EU Funds Programmes to Develop Competencies, Politics
By: Michael Mike
The European Union (EU) is complementing the efforts of the Nigerian government to improve and strengthen democracy across the country by supporting programmes that build the capacity of young people in politics and governance.
The E.U. through the Support to Democratic Governance in Nigeria (EU-SDGN) Programme has funded the Yiaga Africa’s Constituency Office Internship Programme.
According to a statement on Saturday, the 3-month programme, which started in December 2024, and is expected to end in February this year, provides an excellent opportunity for young individuals committed to democratic development and eager to deepen their understanding of legislative processes and effective constituency engagement, to gain hands-on experience in the operations of constituency offices and legislature-constituent relations.
The statement read that by placing these interns in the constituency offices of lawmakers, the programme not only offers them the chance to understand the legislative process, but provides an opportunity for them to engage with lawmakers, contribute meaningfully to policy discussions, and be part of constituency engagement.
According to the Deputy Head of the EU Delegation to Nigeria and ECOWAS, Zissimos Vergos, the EU’s belief is that a thriving democracy is built on responsible leadership and active citizens engagement.
He said: “Young people, therefore, play very significant roles in developing Nigeria’s democracy by actively participating in the electoral and governance processes, and contributing to guidelines, policies, and frameworks that ensure free, fair, credible, and transparent elections.
“Hence, it is important to provide platforms for these young and vibrant minds to actively engage and be a part of the country’s governance process. The time for making excuses is over. The moment people start making excuses not to act ethically, democratic institutions are undermined. Rather than criticising democracy, we must focus on ethical decisions that shape its practice.”
Highlighting the impact of the programme in strengthening the relationship between lawmakers and their constituencies, Yiaga Africa’s Programme Manager, Yetunde Bakare said, “The Constituency Office Internship Programme encourages youth participation in the democratic process, ensuring that young people are involved in shaping policies that affect them.
“We would like to say thank you to the EU for the support that we receive that enables us to do the work that we do, which allows us to deploy young people to constituency offices. This wouldn’t have been possible without the support of the EU and the young people who continue to apply and take advantage of opportunities like this.”
One of the interns, Olaiya Oluwadamilola, while expressing passionately about how the programme has shaped both her professional and personal life, said, “This internship has not only enhanced my communication skills and boosted my confidence, but it has also inspired me to give back to my community and pursue a career in politics.”
Another intern, Salihu Gode,, praised the EU’s vision for inclusive governance, and harped on the importance of mentorship, which she believes is essential for her career development and political ambition. “With the skills and knowledge I’ve acquired, I’m confident that I can drive meaningful change in my community and contribute to Nigeria’s democratic growth,” she said. Gode also expressed her commitment to empowering women and promoting female participation in politics—an area the EU actively supports.
EU Funds Programmes to Develop Competencies, Politics
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