FG generates over 8billion from wood, reclaims 1,558 hectares of land

In line with President Mohammadu Buhari administration’s economic recovery policy, sustainable management of wood exportation and other products, the country netted over N8 billion in three years. The Minister of Environment Suleiman Hassan Zarma, who disclosed this yesterday during the ministerial briefing in Abuja, said the National Forestry Trust Fund was also established as a […]

In line with President Mohammadu Buhari administration’s economic recovery policy, sustainable management of wood exportation and other products, the country netted over N8 billion in three years.

The Minister of Environment Suleiman Hassan Zarma, who disclosed this yesterday during the ministerial briefing in Abuja, said the National Forestry Trust Fund was also established as a contributory source of funding to augment resource availability for sustainable forest management.

The fund provides opportunities for youth employment by employing youth in forest communities as forest guards

He said Nigeria being signatory to the Convention on International Trade in Endangered Species of Wild Flora and Fauna (CITES) has continued to be a key regulatory tool and revenue earner for the government.

According to him, the administration has made tremendous achievement in the sector and has also reclaimed about 1,558 hectares of land through the Nigeria Erosion and Watershed Management Project (NEWMAP) programme.

While noting that the Ministry has taken a very important step to ensure effective coordination and better management of the environment, he said some of the notable achievements include the commencement of the remediation of Ogoni land and issuance of Green Bonds for Climate finance

“Nigeria during the life of this administration became the first Country in  Sub-Saharan Africa to Issue a Sovereign Green Bonds to finance Afforestation, Desertification and renewable energy (Energising Education progamme) projects  to the tune of N10.45 billion,” he said.

He said proceeds from the green bond has been invested in providing projects under the energizing education in some universities include Abubakar Tafawa Belewa University (ATB) and  Dan Fodio University , Sokoto as well as electrifying rural community in Sokoto.

He said he has flagged off the Abuja Leg of the Investors road show yetserday  signaling the issuance of the 2nd Sovereign Green Bonds to the tune of 15 billion naira for similar projects in the 2018 appropriation.

He said functional flood early warning systems equipment were installed across the states for effective environmental governance and adequate nationwide flood forecasting and monitoring.

The equipment is to provide flood warning in advance to reduce flood disaster impact and ensure prompt response to impending flood

Among the numerous policies developed are National Policy on Erosion and Flood Control which is now the policy that guides the implementation of Erosion/Flood Control Projects,  National Policy on Solid Waste Management and National Policy on Plastic Life-Cycle Management.

Also, he said through the Great Green Wall (GGW) programme the government has carried out production of 4,145,070 assorted forest and fruit tree seedlings for various afforestation and land rehabilitation and restoration projects.

Earlier, the Permanent Secretary Ibukun Odusote had said the minister has brought vibrancy, drive and direction into the environment sector in the last few months of the administration

She said while under his watch Nigeria has secured notable accomplishments in climate change issues including improved access to Global Environmental Facility and issuance of green bond.