Conservationists push for natural resources valuation

IN realization that the natural environment constitutes an asset of inestimable value and provides the necessary habitat for the survival of mankind, conservationists have moved to enhance forest protection and environmental compliance by those involved in natural resources exploitation.

They say, if there are favourable institutional mechanisms and incentives for private investment in forest resource development and management, the natural resources could be a potential alternative, and capable of enhancing the economic condition of the country.

The submission was made at the 14th Annual Chief S.L Edu Memorial lecture, organised by the Nigerian Conservation Foundation (NCF) and sponsored by Chevron Nigeria Limited, a at the Nigerian Institute of International Affairs (NIIA). In attendance were conservationists, members from the academia and other stakeholders, who critically examined the potentials of forests in Nigeria.

President, Board of Trustee, Nigerian Conservation Foundation, Chief Izoma Phillip Asiodu, noted that with primitive breakthrough such as the discovery of fire and then metallic tools, humanity has advanced to more sophisticated ways of exploiting the natural environment, thus, causing the rapid changes in land use.

He said:   “These were things we took for granted as a global society. Harsh realities, however, face us today especially with the advent of climate change which make us realize that it cannot continue to be business as usual. Indeed, our natural environment is extremely important if we are to achieve and sustain prosperity and good quality of life as a nation.”

He said that officials must explicitly value the services provided by nature so that it is taken into full consideration in policy decision making at the national and local levels, adding that putting a price tag on nature is acknowledging a societal reality to which decision makers will pay attention.

“Economic valuation of nature can be useful in providing the basis to justify and set priorities for programmes, policies and actions that protect or restore ecosystems and their services. An ecosystem that typically captures these economic values anywhere in the world is the forest ecosystem.

In his lecture, titled: “Valuing Nigeria’s Forests: Issues and Context”,  a Professor of Forest Economics, Labode Popoola who is also the President, Forestry Association of Nigeria (FAN), said incomes from forest and forestry industry in Nigeria are usually under-captured. “This is because the current accounting systems of national income accounting have serious limitations.

“While most resource allocations are guided by political considerations, and forestry seldom been able to garner the necessary political clout, neglect of the sector in national budgets is rationalized on the basis of its low contribution to income and employment.

Earlier, Chairman, NCF National Executive Committee, Chief Ede Dafinone, stressed that, the damaging impacts of climate change on the people and the planet can be measured in various ways, such as physical and infrastructural damage, territorial losses, and poverty and health indices, lost or declining resources and so on, and consequently they can be regions on the planet, its net damage costs need to be addressed.

Dafinone commended the NCF for been deeply involved in the regeneration of degraded habitats, especially forest restoration, noting that over the years, it has developed different participatory models in collaboration with concerned stakeholders for such critical field interventions.

NCF Director-General, Mr. Adeniyi Karunwi, while highlighting NCF’s effort to regenerate and restore the lost Nigeria’s forest within the coming years explained that the lecture serves as the platform for the presentation of awards to grantees of the Chief S.I Edu Memorial Research Grant for PhD studies.