Forestry and Macroeconomic Accounts of Nigeria: The Importance of Linking Ecosystem Services to Macroeconomics

The purpose of this study is to analyse the economic value of Nigeria’s forest resources, where possible, placing added focus on resources found in the CRS, and demonstrate some policy instruments that would alleviate pressure on these natural forest systems. The methodology followed to conduct this analysis includes: 1. Development of a Forestry Resource Account (FRA) for Nigeria’s forest ecological infrastructure; 2. Ecosystem Service Assessment (ESA) mapping of socio-economic benefits provided by forest resources; 3. Valuation of ecosystem services and linking these to the macro-economic situation in Nigeria; and 4. Testing of some policy instruments aimed at combating deforestation. By understanding the relationship between the socio-economic climate and the contribution by ecosystem services by using market value linkages as a valuation approach, the study allows for better informed decision making that would both protect and stimulate the benefits received by forests rather than limit them.