Odimmegwa Johnpeter/Abuja
In what is seen as landmark moves, the Federal Government through the Director of Forestry, Ministry of Environment, Mrs. Halima Bawa-Bwari on Friday, 28 November, launched the Biodiversity Finance Initiative (BIOFIN), a holistic strategy geared towards mobilizing both domestic and international finance to recover it dwindling ecosystem and forestry.
Mrs. Bawa-Bwari, who was represented by Mr. Chris Aiwuyo, while declaring the launch open in Abuja said it is in tandem with the revised National Biodiversity Strategy and Action Plan (NBSAP), said it is a decisive step toward securing the future of our forests, ecosystems, and the invaluable biodiversity that sustains life and livelihoods across our nation.
Meanwhile, in what is seen as a new push, a new partnership has evolved with the aim to strengthen public-private collaboration for the implementation of Nigeria’s biodiversity goals.
The Nigerian Conservation Foundation, Natural Eco Capital and Business for Nature have concluded arrangement to join forces to mobilize private sector action for the National Biodiversity Strategy and Action Plan (NBSAP).
The Nigerian Conservation Foundation (NCF) and Natural Eco Capital (NEC) leading Nigerian organizations committed to conservation and sustainable economic development), are joining forces with Business For Nature (BFN), (global coalition of more than 100 influential partner organizations and forward-thinking companies) to strengthen public-private collaboration for nature positive development and support Nigeria’s biodiversity commitment.
This new partnership aims to strengthen collaboration between business, government, and civil society.
The goal is to mobilize businesses and support the government towards developing frameworks and policies that enable business action aligned with the National Biodiversity Strategy and Action Plan (NBSAP) and the Global Biodiversity Framework (GBF).
Bawa-Bwari, said: “Today, we take a decisive step toward securing the future of our forests, ecosystems, and the invaluable biodiversity that sustains life and livelihoods across our nation.
“Let me remind you 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.”
According to the Director, the National Biodiversity Strategy and Action Plan provides the nation with 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.
Through BIOFIN, Bawa-Bwari, Nigeria aims to bridge the financing gap for biodiversity conservation, strengthen partnerships between government, private sector, civil society, and local communities, promote sustainable forestry practices that balance ecological integrity with economic growth, and empower communities as custodians of biodiversity, ensuring they benefit directly from conservation efforts.
“It may interest you to know 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,
“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 added.
While soliciting for the initiative, she called on all stakeholders to join hands in this journey, adding: Let us commit to innovative thinking, collaborative action, and unwavering dedication to safeguarding our forests and biodiversity for generations to come.
Together, we can ensure 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/ renewed hope agenda and the present government policy direction.
While shedding more light to financing plan, Biodiversity Desk Officer, Sikeade Egbuwalo, said: “Through BIOFIN, Nigeria’s NBSAP can be adequately financed by mobilizing more public and private sector investments, unlocking new revenue streams, aligning economic incentives with conservation.”
The collaborative initiative is part of Business for Nature’s broader national projects initiative, which works country by country to bridge the gap between global ambition and national reality by supporting countries to implement the GBF and build nature-positive, resilient economies.
Stakeholders expressed concerns that Nigeria’s biodiversity is under increasing threat from deforestation, pollution, unsustainable land use, and climate change. The business sector spanning agriculture, extractive industries, manufacturing, and services exerts significant pressure on ecosystems, yet holds untapped potential to drive conservation and restoration efforts.
According to the Nigerian Conservation Foundation, only about 4% of Nigeria’s original forest cover remains, and the country loses approximately 400,000 hectares of forest annually due to logging, agriculture, and urban expansion.
Through this project, the partners will establish a Business Advisory Group (BAG) and develop a Business Action Plan (BAP) aligned with Nigeria’s NBSAP. The BAG will serve as a collaborative platform for dialogue, knowledge exchange, and alignment of corporate strategies with national biodiversity priorities.
The Director General of the Nigerian Conservation Foundation, Dr. Joseph Onoja, said: “For over four decades, the Nigerian Conservation Foundation has championed the protection and sustainable use of our nation’s rich biodiversity. This partnership creates a unique platform to engage the private sector as an essential partner in restoring ecosystems, creating green jobs, and safeguarding Nigeria’s natural heritage for future generations.”
In his remarks, the CEO, Natural Eco Capital, Dr. Eugene Itua, while shedding more light on nature’s importance and the possibilities the partnership holds, added: “Nature is one of our most valuable assets, and its protection must be seen as smart economics, not philanthropy.
By linking biodiversity targets with business strategy and national development priorities, this partnership will help companies understand, measure, and manage their dependencies, impacts, risks, and opportunities on nature in ways that create shared value.”
The African Lead, BFN, Oluwasooto Ajayi, explained how businesses are taking action but more unconsciously, adding: “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 her, this collaboration will help accelerate progress for nature in Nigeria by connecting private sector leadership with national biodiversity and climate priorities.”
Recall 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. Governments cannot achieve this alone. Businesses and financial institutions must play a central role in delivering the transition toward a nature-positive future.
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