SANWO-OLU SEEKS AFRICAN CAPITAL AND PRIVATE SECTOR PARTICIPATION TO SAVE CONTINENT’S FORESTS.

 

Lagos State Governor, Mr Babajide Sanwo-Olu on Tuesday called for increased mobilisation of African capital and private-sector investment to protect the continent’s rapidly declining forest resources, stressing that sustainable forestry must become a major driver of economic growth, job creation, livelihoods and climate resilience.

Governor Babajide Olusola Sanwo-Olu made the call through the Commissioner for the Environment and Water Resources, Mr Tokunbo Wahab at the High-Level Lunch Debate/Business Roundtable on the Future of African Forestry, held at the Marriott Hotel, Ikeja, Lagos.

Sanwo-Olu, while welcoming participants to Lagos for the high-level dialogue, said Africa could no longer afford to treat its forests solely as environmental resources, but must recognise their enormous economic potential and develop innovative financing mechanisms to protect and sustainably manage them.

He noted that Africa is losing nearly four million hectares of forest annually, while funding for sustainable forest management is becoming increasingly difficult to secure.

He described the situation as a major challenge but also an opportunity for African countries to develop new approaches to financing conservation and responsible utilisation of forest resources.

“We must begin to see our forests not only as environmental assets, but as economic assets—capable of supporting sustainable businesses, green investment, livelihoods, food security and climate resilience.” he said.

The Governor  welcomed the proposal for the establishment of an African Forestry Trust Fund, describing it as an important step towards giving the continent greater ownership of the financing of forest protection and sustainable management.

According to him, while Africa must continue to welcome international partnerships, the continent must equally build strong institutions capable of mobilising domestic and African capital and attracting global investments towards its own development priorities.

Sanwo-Olu emphasised the need for stronger private-sector participation in forestry, noting that government alone could not provide the resources required to address the scale of the continent’s forestry challenges.

He called for greater collaboration among governments, investors, financial institutions, entrepreneurs, development partners and local communities to develop viable forestry projects that would deliver both environmental and economic returns.

The Governor stressed that properly managed forests could become significant sources of employment and investment while strengthening food security, protecting communities from the impacts of climate change and ensuring a healthier environment for future generations.

He urged stakeholders at the roundtable to move beyond reaffirming their commitment to sustainable forestry and focus on concrete measures for mobilising capital, building effective partnerships and implementing projects that would secure the future of Africa’s forests.

Sanwo-Olu also reaffirmed Lagos State’s readiness to support initiatives that promote sustainable development and responsible investment across the continent, stressing that the ultimate objective of sustainable forest management must be to improve the quality of life of African people.

He expressed optimism that the deliberations would produce tangible outcomes and practical strategies capable of transforming Africa’s forestry sector into a sustainable platform for environmental protection, economic opportunity and continental resilience.

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