Stakeholders have committed to accelerating actions to conserve nature through the Biodiversity Finance Initiative (BIOFIN) to sustain livelihoods in Nigeria.
The commitment was made on Friday in Abuja during the official launch of the Nigeria Biodiversity Finance Initiative (BIOFIN), aligned with the National Biodiversity Strategy and Action Plan (NBSAP). The event was held under the theme: “Unlocking Private Sector Engagement for the Implementation of the NBSAP.”
Mrs. Halima Bawa-Bwari, Director of Forestry at the Ministry of Environment, said the initiative marked a decisive step toward securing the future of forests, ecosystems, and the invaluable biodiversity that sustains life and livelihoods across the nation. She was represented by Dr. Awuyo Christopher, Deputy Director of Forestry.
“Forests are living systems that regulate the climate, protect 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,” Bawa-Bwari said.
She added, “The urgency to act has never been greater. NBSAP provides a clear roadmap to conserve, sustainably use, and equitably share the benefits of biodiversity. BIOFIN complements this vision by mobilizing innovative financing solutions, ensuring our commitments are not only aspirational but achievable.”
Through BIOFIN, the federal government aims to bridge the financing gap for biodiversity conservation and strengthen partnerships among government, private sector, civil society, and local communities. The initiative seeks to promote sustainable forestry practices that balance ecological integrity with economic growth while empowering communities as custodians of biodiversity, ensuring they benefit directly from conservation efforts.
Bawa-Bwari noted Nigeria’s consistent commitment to biodiversity conservation:
- Integrating biodiversity financing into national development planning
- Strengthening institutional frameworks
- Mobilizing domestic and international resources
- Increasing budgetary allocations to forestry and conservation programmes
- Partnering with development partners to unlock innovative financing mechanisms
- Mainstreaming biodiversity into key sectors such as agriculture, energy, and infrastructure
- Supporting community-driven initiatives that ensure local custodians benefit from conservation
“This initiative is not just about funding; it is about transforming the way we value nature. Investing in biodiversity is investing in our collective future, health, prosperity, and resilience as a nation,” she said.
Mrs. Oluwasooto Ajayi, Africa Lead at Business for Nature, stressed the need to unlock finance to build an economy that recognizes biodiversity as a foundational resource.
Mrs. Sikeade Egbuwalo, Biodiversity Desk Officer at the Ministry, added that BIOFIN would enable Nigeria’s NBSAP to be adequately financed by mobilizing more public and private sector investments, unlocking new revenue streams, and aligning economic incentives with conservation goals.
Mr. Eugene Itua, Sustainability Expert at Natural Eco Capital, called for increased funding to enhance biodiversity for sustainable development in Nigeria.
