Nigeria has launched the Biodiversity Finance Initiative (BIOFIN), marking a major step toward protecting the country’s forests, ecosystems, and natural resources that support livelihoods across different communities. The event, held in Abuja, brought together government officials, private sector players, civil society, and community representatives to push for stronger action in biodiversity conservation.
Speaking at the launch, the Director of Forestry at the Ministry of Environment, Mrs Halima Bawa-Bwari, said BIOFIN is designed to close the financing gap for biodiversity conservation and support sustainable forestry practices. She explained that the initiative will promote a balance between ecological protection and economic development while empowering communities to become real custodians of biodiversity. According to her, “The urgency to act has never been greater. The National Biodiversity Strategy and Action Plan (NBSAP) provides us with a clear roadmap to conserve, sustainably use, and equitably share the benefits of biodiversity. BIOFIN complements this vision by mobilising innovative financing solutions, ensuring that our commitments are not only aspirational but achievable.”
Bawa-Bwari noted that Nigeria has shown consistent commitment to protecting biodiversity. She added that through the NBSAP, “The country has pledged to integrate biodiversity financing into national development planning, strengthen institutional frameworks, and mobilise both domestic and international resources.” She highlighted key achievements already taking shape, including increased budgetary allocations to forestry and conservation programmes, partnerships with development organisations to unlock new financing options, mainstreaming biodiversity into sectors like agriculture, energy, and infrastructure, and community-driven initiatives that allow local communities to benefit directly from conservation activities.
She urged all stakeholders to remain dedicated to the process. “Let us commit to innovative thinking, collaborative action, and unwavering dedication to safeguarding our forests and biodiversity for generations to come. Together, we can ensure that the Biodiversity Finance Initiative becomes a beacon of hope and a model of sustainability, aligned with Nigeria’s commitments under the NBSAP and our broader national development and Renewed Hope agenda,” she said.
Also speaking on the private sector role, representatives of a global organisation working to support nature-positive economies explained that their mission is to activate and accelerate the transition toward a world where nature is restored and protected. They noted that while many Nigerian businesses are paying more attention to sustainability, not all fully understand how their efforts connect to national plans. They added that stronger collaboration will help link private sector leadership with national biodiversity and climate priorities, turning global goals into national implementation.
They recalled that “In 2022, 196 countries made a historic commitment through the Global Biodiversity Framework (GBF), a global plan to halt and reverse nature loss by 2030. The government cannot achieve this alone. Businesses and financial institutions must play a central role in delivering the transition toward a nature-positive future. Through this partnership, the organisations will convene leading Nigerian companies and government representatives through a Business Advisory Group (BAG).”
Representing Natural Eco Capital, Rantiola Babatimehin reaffirmed the group’s commitment to supporting sustainability by helping public and private institutions build resilient and eco-conscious systems. She said, “As a member of the Capitals Coalition, we collaborate with governments, financial institutions, and investors to tackle issues around natural capital, climate change, low-carbon development, sustainable finance, and circular economy.”
The Director-General of the Nigerian Conservation Foundation, Dr Joseph Onoja, stressed that biodiversity protection is a shared responsibility. “Every organisation and every individual involved in business should also play a role in safeguarding biodiversity. That is why we established the Business Advisory Group—so that together, we can develop a Business Action Plan for Biodiversity and identify practical steps to strengthen biodiversity conservation in Nigeria,” he said.
The Ministry’s Biodiversity Desk Officer, Sikeade Egbuwalo, explained that BIOFIN and the NBSAP can be properly financed by attracting more public and private investments, unlocking new revenue streams, and aligning economic incentives with conservation goals.
