Odimmegwa Johnpeter/Abuja
Federal government has launched Biodiversity Finance Initiative (BIOFIN),aimed at
bridging the financing gap for biodiversity conservation and to strengthen partnerships between government, private sector, civil society, and local communities.
It said this will also promote sustainable forestry practices that balance ecological integrity with economic growth and empower communities as custodians of biodiversity, ensuring that they benefit directly from conservation efforts.
This was disclosed during the launch of the biodiversity finance initiative (BIOFIN)in line with the National Biodiversity Strategy plan and Action (NBSAP) yesterday in Abuja .
Speaking at the Launched the Director of Forestry at the Ministry of Environment, Mrs Halima Bawa-Bwari, stated that Today, we are taking a decisive step towards securing the future of our forests, ecosystems, and the invaluable biodiversity that sustains life and livelihoods across our nation.
Bawa-Bwari, represented by Deputy Director Chris Aiwuyo said that forests are more than trees, they are living systems that regulate our climate, protect our watersheds, provide food and medicine, and serve as the backbone of rural economies.
“Yet, they face unprecedented pressures from unsustainable exploitation, land-use change, and climate variability. The urgency to act has never been greater”, she added.
She maintained that this initiative is not just about funding; it is about transforming the way we value nature.
“It is about recognizing that investing in biodiversity is investing in our collective future, our health, our prosperity, and our resilience as a nation”, she said.
She noted that the National Biodiversity Strategy and Action Plan (NBSAP) has provided a clear roadmap to conserve, sustainably use, and equitably share the benefits of biodiversity BIOFIN complements this vision by mobilizing innovative financing solutions ensuring that our commitments are not only aspirational but achievable.
The Director emphasized that Nigeria has consistently demonstrated its commitment to biodiversity conservation. “Through the NBSAP, our nation has pledged to integrate biodiversity financing into national development planning, strengthen institutional frameworks, and mobilize both domestic and international resources.
“This commitment is reflected in: Increased budgetary allocations to forestry and conservation programs, Partnerships with development partners to unlock innovative financing mechanisms.
“Mainstreaming biodiversity into key sectors such as agriculture, energy, and infrastructure, Community-driven initiatives that ensure local custodians benefit directly from conservation efforts.”, stressed.
She noted that the Biodiversity Finance Initiative becomes a beacon of hope and a model of sustainability, fully aligned with Nigeria’s commitments under the NBSAP and our broader national development of renewed hope agenda with the present government policy direction.
She urged all stakeholders to join hands in this journey and let us commit to innovative thinking, collaborative action, and unwavering dedication to safeguarding our forests and biodiversity for generations to come.
Also speaking, the Director-General of the Nigerian Conservation Foundation, Dr Joseph Onoja,insisted that conservation of biodiversity is everyones business.
Onoja advised that
every organisation and every individual have a vital role to get involved a role in safeguarding biodiversity.
“ There is a need for the establishment of business advisory group so that together, we can develop a Business Action Plan for Biodiversity and identify practical steps to strengthen biodiversity conservation in Nigeria”.
The Nigeria Sustainability Officer Natural Eco Capital, Rantiola Babatimehin, said that her organisation’s mission is to activate and accelerate the transition towards a nature-positive global economy.
She explained that Businesses in Nigeria are increasingly paying attention to nature as part of their broader work on sustainability, but they are not yet all aware of how their work contributes to national plans to protect, restore and sustainably use nature.
According to Babatimehin,collaboration will help accelerate progress for nature in Nigeria by connecting private sector leadership with national biodiversity and climate priorities turning global goals into national action.
She stressed that “In 2022, 196 countries made a historic commitment through the Global Biodiversity Framework (GBF), a global plan to halt and reverse nature loss by 2030. The government can not achieve this alone”.
She noted that businesses and financial institutions must play a central role in delivering the transition toward a nature-positive future.
“Through this partnership, the organisations will convene leading Nigerian companies and government representatives through a Business Advisory Group (BAG)”.
Meanwhile, The Federal Ministry of Environment Biodiversity Desk Officer , Sikeade Egbuwalo stated that the Nigeria BIOFIN project is consistent with goals and targets of the NBSAP.
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