Business is booming.

VP Shettima laments depletion of Nigeria’s forest, decares it economic emergency

By Abdullahi Lukman

Vice President Kashim Shettima issued a strong warning on Monday about the alarming rate of forest depletion in Nigeria, calling it not just an environmental crisis but an economic emergency.

Speaking at the Nigeria Forest Economy Summit 2025 in Abuja, Shettima highlighted that over 90% of Nigeria’s original forest cover has been lost, with an additional 400,000 hectares vanishing each year.

The summit, themed “Sustainability of Nigeria’s Forests: Unlocking the $2bn potential for economic and financial inclusion,” focused on leveraging the nation’s forest resources for economic growth.

Shettima, represented by his Deputy Chief of Staff, Ibrahim Hadejia, stressed that neglecting these vital resources “directly impoverishes the nation.”

He described forests as a “treasure trove of biodiversity, timber, medicinal plants and other products that drive agriculture, trade, health, climate resilience and finance,” much of which remains untapped.

Shettima pointed to global examples where forests significantly contribute to national economies, such as Vietnam’s $15 billion annual forest exports and the Amazon’s 15% contribution to Brazil’s GDP.

He urged Nigeria to not only replicate these successes but to “lead Africa’s forest industrialisation.”

However, he warned that failure to adopt sustainable forest management practices could lead to Nigeria losing access to critical international markets, citing impending European Union regulations that will block imports from deforested land within five years.

The Vice President emphasized the need for innovation and inclusion, suggesting that embedding financial services within forest-based livelihoods could expand credit, savings, and insurance for the 30 million Nigerians, especially women and girls, currently excluded from the formal financial system.

He also envisioned the development of eco-industrial parks focused on resources like bamboo, shea butter, medicinal plants, and carbon verification, urging, “Let us turn trees into trillions and forests into futures.”

Supporting the summit’s ambitious goals, Dr. Sadiq Sani, Founder and CEO of Netzence Sustainability Ltd., announced that his firm will provide technology, including its proprietary CloseCarbon platform, to unlock over $2 billion from Nigeria’s forestry sector.

“Our goal is to measure greenhouse-gas emissions accurately and convert that data into carbon credits,” Sani explained.

He confirmed Netzence is already collaborating with the presidency and various ministries to analyze greenhouse gases and monetize carbon credits, stressing that such initiatives require “government and broad stakeholder support.”

Nurudeen Zauro, Technical Adviser to the President on Economic and Financial Inclusion and Secretary of PRICIFI, highlighted the committee’s mandate to identify and unlock “silent” opportunities for inclusive growth within the forest ecosystem.

George Kelly, Executive Secretary of the Border Communities Development Agency, noted that Nigeria controls more than 10.6 million hectares of forest.

With proper management, he believes annual revenue could soar from the current $2 billion potential to between $5 billion and $10 billion, sufficient to fund multiple states and lift rural communities out of poverty.

Danny Sokari, Chairman of Wen Synergies Nigeria Ltd. and a fellow of the Nigerian Institute of Architects, acknowledged that public awareness regarding the economic potential of forests is currently low.

He emphasized the need for increased consciousness among stakeholders, asking, “What can we do?” to fully realize the “green agenda.”

Meanwhile, the editor-in-chief of NatureNews, Aliu Akoshile, has reiterated the need for deployment of strategic communications in promoting the national forestry economy goals.

Akoshile said the government needs to launch a national campaign not only for massive reforestation but against the alarming depletion of the nation’s forestry resources.

The media guru noted that the government must adopt a two-way advocacy strategy to change the negative attitude and mobilise support for the positive action.

He said NatureNews has developed a robust plan for a 10 billion tree planting campaign in Nigeria and ready to share the insights with the federal government.

below content

Quality journalism costs money. Today, we’re asking that you support us to do more. Support our work by sending in your donations.

The donation can be made directly into NatureNews Account below

Guaranty Trust Bank, Nigeria

0609085876

NatureNews Online

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More