Forest Crisis: Nigeria Losing 400,000 Hectares Annually – Shettima

Vice President Kashim Shettima has raised alarm over the alarming rate of forest degradation in Nigeria, warning that over 90 per cent of the country’s original forest cover has been depleted, with an average loss of 400,000 hectares annually.

He described the situation as both an environmental crisis and an economic emergency.

Shettima made the declaration on Monday at the opening of the Nigeria Forest Economy Summit 2025, which was held at the Presidential Villa, Abuja. Themed “Sustainability of Nigeria’s Forests: Unlocking the $2 Billion Potentials for Economic and Financial Inclusion,” the summit was organised by the Presidential Committee on Economic and Financial Inclusion (PreCEFI) Secretariat.

Represented by the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, the Vice President stressed that Nigeria stands at a crossroads and can no longer afford to ignore its forest resources.

“More than 90 per cent of Nigeria’s original forest cover has been depleted, and over 400,000 hectares are lost annually. This is not just an environmental crisis; it is an economic emergency,” Shettima said.

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According to him, forest resources are critical to Nigeria’s biodiversity, health systems, trade, agriculture, and financial inclusion, but their potential remains largely untapped.

“We cannot underestimate the importance of our forests. They are a treasure trove of biodiversity, timber, medicinal plants, and other valuable products that underpin agriculture, trade, health, climate resilience, and finance,” he stated.

Citing examples from other countries, the Vice President noted that Vietnam earns over $15 billion annually from forest-based exports, Brazil derives 15% of its GDP from its Amazon forests, while Ethiopia has created over 350,000 jobs through reforestation initiatives.

“Nigeria should not only replicate these successes but lead Africa’s forest industrialisation,” Shettima declared. He also warned that the European Union’s new regulations, which prohibit imports from products linked to deforestation within the last five years, could isolate Nigeria from key global markets if urgent actions are not taken.

“Embedding financial services in forest-based livelihoods will improve credit access, savings, insurance, and digital tools—crucial for the 30 million Nigerians who remain financially excluded, especially women and girls,” he added.

Envisioning a greener, wealth-generating future, Shettima proposed the establishment of “eco-industrial parks” centred on bamboo, shea butter, medicinal plants, and carbon verification, saying the time had come to “turn trees into trillions and forests into futures.”

At the summit, Dr. Sadiq Sani, founder and CEO of Netzence Sustainability Limited, introduced new technology developed by his firm to unlock over $2 billion in potential earnings from Nigeria’s forests through carbon credits and greenhouse gas emission tracking.

“Netzence is contributing to providing the technology needed to unlock the potential of our $2 billion forestry economy. Our goal is to measure greenhouse gases and help realise carbon credits through our proprietary technology, CloseCarbon,” Sani said.

He explained that Netzence is building advanced models on forest composition and decomposition to calculate emissions and the carbon credit values that can be derived from them. “This lets us understand emissions and greenhouse gas levels in the forestry environment, and also the amount of carbon credit it can realise,” he noted.

Responding to questions on partnerships with the government, Sani confirmed ongoing collaborations across various federal entities, including the Ministry of Environment, Ministry of Livestock Development, and other relevant agencies.

“We are currently working with the Federal Government across the Presidency and several ministries. Together, we analyse the composition of greenhouse gases and monetise carbon credits in these environments,” he said, emphasising that the initiative is not only environmental but also economic and educational.

Nurudeen Zauro, Technical Adviser to the President on Economic and Financial Inclusion and Secretary of the PreCEFI, underscored the government’s broader vision.

“One part of Mr. President’s agenda is inclusivity. PRICIFI’s duty is to identify untapped opportunities—areas that have been silent—and unlock them so we can achieve this goal,” Zauro said.

He added that the summit’s essence was to harness the economic potential buried in Nigeria’s vast forest landscapes. It brought together key stakeholders, including the Border Community Development Agency, WEN Synergy, and local and international partners.

Executive Secretary of the Border Communities Development Agency, George Kelly, noted that Nigeria possesses more than 10.6 million hectares of forest cover—comprising natural, planted, and reserved forests—which he said could be monetised through carbon financing.

“The potential is more than $2 billion annually. Properly managed, it could approach $5.3 to $10.5 billion, even up to $6 billion annually. That kind of revenue can fund several states,” Kelly said. He added that the next phase is to unify all forestry-related government agencies to acquire precise data and take coordinated action.

Also speaking, Danny Sokari, Chairman of WEN Synergies Nigeria Limited and fellow of the Nigerian Institute of Architects, said the summit’s goal was to elevate national awareness about the economic opportunities in Nigeria’s forests.

“The awareness about how to generate that $2 billion is not yet there—not visibly. Maybe the current approach to the green agenda needs adjusting. That’s why WEN Synergy organised this summit: to raise consciousness, bring in stakeholders, and collectively ask, ‘What can we do?’” Sokari said.