The Rivers State government has signed a 30-year memorandum of understanding (MoU) with a firm, Serendib Capital, and Foundation for Partnership Initiatives in the Niger Delta (PIND), to launch a large-scale mangrove restoration and conservation project in the state.
The mangrove restoration project, which covers 240,000 hectares of seagrass, aimed to become the world’s largest blue carbon project, integrating mangrove restoration, seagrass conservation next to 170,000 hectares of mangrove, sustainable agriculture, tree planting, biochar production, and others.
The project would be part of a larger mangrove marine ecosystem restoration program known as ‘Delta AZURE’, which will be the world’s largest blue carbon project.
Speaking after the signing of the MoU in Port Harcourt, the state’s commissioner for Energy and Natural Resources, Maximus Nwafor, said the project would benefit the state and increase its revenue.
Nwafor, who stated that the state will ensure the sustainability of the project, said: “We have signed an MoU with Serendib Capital, which will benefit our state and increase our revenue. I would like the Managing Director to further acquaint us with the project’s details.
“We have requested that they provide us with all necessary requirements, including security and other aspects. Once we receive this information, we will ensure the project’s success.”
In his speech, the chief executive officer of Serendib Capital, Rafat Rizvi, explained that the collaborative effort seeks to drive transformative environmental and socio-economic gains in Rivers State, serving as a model for future mangrove restoration projects globally.
Rizvi said the project’s launch marked a significant step towards preserving Nigeria’s vital mangrove ecosystems and promoting sustainable development in the oil region.
He stated that the mangrove restoration project aims to prevent the deforestation of 170,000 hectares of forest through afforestation, reforestation, and revegetation
The CEO further stated that the effort was part of the larger Delta AZURE program, poised to become the world’s largest blue carbon project.
He said: “Nigeria’s mangrove forests, spanning 10,500 km, are the largest in Africa and third-largest globally. These vital ecosystems provide biodiversity support, flood prevention, coastal erosion protection, and carbon sequestration.”
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