Nigeria targets $10 billion carbon market via 10.6 million hectares of forest — FRIN

KEY POINTS

• The Director-General of the Forestry Research Institute of Nigeria (FRIN), Prof. Zachariah Yaduma, says Nigeria holds over 10.6 million hectares of forests with untapped economic potential.
• Marking the International Day of Forests (March 21) and World Wood Day, Yaduma highlighted the 2026 theme: ‘Forests and Economies’.
• FRIN is pursuing UNESCO Biosphere Reserve status for Shere Hills (Plateau), Omo (Ogun), and Oban (Cross River) to blend conservation with economic growth.
• The activation of Nigeria’s National Carbon Market framework is set to turn reforestation into a direct financial incentive for communities.

MAIN STORY

Nigeria is sitting on a “green gold mine” of over 10.6 million hectares of forest that could drive the nation’s transition to a sustainable green economy. This was disclosed on Saturday by Prof. Zachariah Yaduma, the Director-General of the Forestry Research Institute of Nigeria (FRIN), in a statement marking the 2026 International Day of Forests.

 Yaduma noted that while forests have traditionally been seen through an extractive lens, the new global economy prizes regeneration, carbon credits, and climate finance.

Under the leadership of FRIN, Nigeria is aggressively pursuing UNESCO Biosphere Reserve status for three major sites: Shere Hills in Plateau State, Omo in Ogun State, and Oban in Cross River State. These designations are intended to create a “harmonious” model where biodiversity is protected while sustainable industries—such as eco-tourism and managed timber—provide jobs. Yaduma emphasized that the era of simply cutting down trees for immediate gain is waning, replaced by a “transformative vision” that values the forest as a standing asset.

A major pillar of this vision is the National Carbon Market framework. Yaduma, who also chairs the Man and Biosphere Committee in Nigeria, stated that this framework positions Nigeria as a key player in the global carbon economy. By using FRIN’s verified planting stock and scientific monitoring protocols, the country can now attract international climate finance. This system effectively pays communities and the private sector to protect and expand forest cover, turning conservation into a profitable enterprise.

THE ISSUES

The primary hurdle identified by FRIN is that Nigeria currently captures only a “fraction” of its forest’s potential. Illegal logging, charcoal production, and encroachment for agriculture continue to deplete the 10.6 million hectares. Furthermore, the transition to a carbon-based economy requires global credibility, which Yaduma says depends entirely on FRIN’s ability to provide “verified data.” Without strict monitoring, Nigeria risks being excluded from high-value international carbon trade agreements.

WHAT’S NEXT

• UNESCO Certification: The formal application process for Shere Hills, Omo, and Oban to become Biosphere Reserves is expected to reach a critical review stage by late 2026.
• Carbon Credit Trading: Following the framework’s activation, the first batch of “Nigeria-Verified Carbon Credits” is expected to be listed for international purchase, providing immediate liquidity for reforestation projects.
• Private Sector Engagement: FRIN is calling on Nigerian businesses to invest in “Regenerative Forestry” as a way to offset their corporate carbon footprints while supporting local productivity.

WHAT’S BEING SAID

• “The activation of Nigeria’s National Carbon Market framework positions the country as an emerging player in the global carbon economy,” stated Prof. Zachariah Yaduma.
• “Nigerians must protect forests and their resources, which remain essential from cradle to coffin,” the FRIN DG added.
• “FRIN’s scientific data and verified planting stock are vital for attracting climate finance and maintaining global credibility,” noted Idara Umoh-Ido in the official statement.

BOTTOM LINE

The Bottom Line is that Nigeria is moving from “Timber” to “Tokens.” By leveraging the National Carbon Market and seeking UNESCO status for its major reserves, FRIN is attempting to prove that a standing forest in Ogun or Cross River is worth more in international climate credits than it is as firewood or exported logs.

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