Nigeria Launches $1 Billion Forest Recovery Initiative for Climate Action
Nigeria has initiated a $1 billion forest recovery program targeting deforestation and climate change over the next decade. The 'Securing Nigeria's Forest Future' plan aims to restore ecosystems, enhance governance, and attract sustainable financing, marking a pivotal moment in national environmental management.
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Nigeria's new initiative, 'Securing Nigeria's Forest Future (SNFF),' is set to mobilize $1 billion in blended finance to combat deforestation and climate change. This 10-year plan, launched in Abuja, intends to restore degraded forest landscapes, enhance governance, and promote sustainable financing.
The strategy includes contributions from public funding, international support, private investment, and carbon markets. Key stakeholders, including federal and state representatives, civil society, and the private sector, are involved in finalizing a framework that aligns with Nigeria's environmental commitments, including the National Forest Policy and the Paris Agreement. Success hinges on inclusive participation from forest-dependent communities and transparent governance.
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