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Shettima Raises The Alarm Over Depletion Of Nigeria’s Forest
Vice President Kashim Shettima has raised the depletion of the nation’s forest and warned about the critical state of Nigeria’s forests and its dire economic implications.
This is just as the CEO of Netzence Sustainability Limited (Netzence), Dr. Sadiq Sani, assured Nigerians that it is using technology to unlock the over two billion dollars of potential in the forest sector.
Declaring open the Nigeria Forest Economy Summit 2025 with the theme: “Sustainability of Nigeria’s Forests: Unlocking the $2 billion potentials for economic and financial inclusion” at the State House, Abuja on Monday, Shettima declared that “more than 90 percent of Nigeria’s original forest cover has been depleted, and over 400,000 hectares are lost annually. This is not just an environmental crisis; it is an economic emergency.”
Represented by the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia at the summit organized by the Presidential Committee on Economic and Financial Inclusion(PreCEFI) Secretariat, the Vice President stressed that the country is at a crossroads and that neglecting forest resources directly impoverishes the nation and its people
According to him: “We cannot underestimate the importance of our forests. They are a treasure trove of biodiversity, timber, medicinal plants, and other valuable products that underpin agriculture, trade, health, climate resilience, and finance. Yet this vast potential remains largely untapped.”
Emphasizing the global opportunities Nigeria risks missing if it fails to act decisively, Shettima said: “Look at Vietnam, earning over $15 billion yearly from forest exports. Brazil’s Amazon contributes 15 percent of their GDP from forests alone. Ethiopia has generated 350,000 jobs through reforestation and value chains. Nigeria should not only replicate these successes but also lead Africa’s forest industrialization.
“Ignoring this challenge is not an option. Our forests’ depletion threatens economic stability, livelihoods, and our global trading position. The European Union’s upcoming regulations forbid imports from products sourced on lands deforested within five years.
“Nigeria risks losing access if we do not embrace sustainable forest management now.”
The Vice President therefore called for innovation and inclusion, saying: “Embedding financial services in forest-based livelihoods will improve credit access, savings, insurance, and digital tools — crucial for the 30 million Nigerians who remain financially excluded, especially women and girls.”
He envisioned a future where “eco-industrial parks dedicated to bamboo, shea butter, medicinal plants, and carbon verification emerge as economic pillars,” further urging, “Let us turn trees into trillions and forests into futures. This summit must be remembered not as just another policy dialogue, but as a turning point where we invest, innovate, and industrialise our forest economy for sustainable national progress.”
On his part, the CEO of Netzence, Dr. Sani, said his company is contributing to provide technology to unlock over two billion dollars from the nation’s forestry.
His words: “Netzence is contributing to providing the technology needed to unlock the potential of our $2 billion for Nigerian forestry. Our goal is to provide technology that allows us to measure emissions—the greenhouse gases (GHG) in our environment—and see how we can realise carbon credits for the environment as well. That is our fundamental aim through our proprietary technology CloseCarbon.”
On how to achieve it, Sani said: “We are using our technology built for the forestry environment. We’re currently building models regarding forest composition and decomposition.
“This lets us understand emissions and greenhouse gas levels in the forestry environment, and also the amount of carbon credit it can realise. We are combining our technologies to build models that give us a true picture of emissions and their value in that environment.”
Fielding questions from newsmen whether there is any form of partnership between Netzence sustainability limited and the Federal Government, the CEO, who is also one of the panelists at the summit said:
“Absolutely, we are currently working with the Federal Government across the presidency and several ministries, like the Federal Ministry of Livestock Development and the Ministry of Environment, plus agencies under the Ministry of Environment, etc. Together, we analyze the composition of greenhouse gases and monetize carbon credits in these environments.
“It’s not just about the environment—the impact is economic and societal, for the people and in knowledge. We can’t do this without the support of government and stakeholders across economic sectors.”
Also speaking, the technical advisor to the president on economic and financial inclusion and secretary of the Presidential Committee on Economic and Financial Inclusion (PRICIFI), Nurudeen Zauro, gave an insight on the broader government vision.
He said: “One part of Mr. President’s agenda is inclusivity. PRICIFI’s duty is to identify untapped opportunities—areas that have been silent—and unlock them so we can achieve this goal.
“The essence of this meeting is to unlock economic potentials that exist in our borders. That’s why we brought together the ecosystem, the Border Community Development Agency, WEN Synergy, and local and international stakeholders—to expose the potential of our forests for sustainable economic and financial inclusion, in line with Mr. President’s renewed economic agenda.”
Also, the executive secretary of the Border Communities Development Agency, George Kelly, spoke on the wealth of Nigeria’s forests, saying, “Nigeria has over 10.6 million hectares of forest—natural, planted, and reserves. We’re looking to convert that to wealth rather than let it go to waste through carbon financing.
“The potential is more than $2 billion annually. Properly managed, it could approach $5.3 to $10.5 billion, or even up to $6 billion annually. That kind of revenue can fund several states. If we unlock that, we’ll achieve meaningful economic and financial inclusion at the rural and sub-national levels, lifting communities out of poverty. That is what we are aiming for.
“The next step is to bring together all government agencies related to forestry to get more precise data and take action on this opportunity.”
Chairman of Wen Synergies Nigeria Limited and fellow of the Nigerian Institute of Architects, Danny Sokari, emphasised the purpose of the summit:
He said: “The awareness about how to generate that $2 billion is not yet there—not visibly. Maybe the current approach to the green agenda needs adjusting. That’s why WEN Synergy organized this summit: to raise consciousness, bring in stakeholders, and collectively ask, ‘What can we do?’
