By Gabriel Ameh
Environmental and climate justice organisations have cautioned the Nigerian government against moves to monetise nature, warning that such actions could undermine true climate justice and worsen environmental and social inequalities.
The warning follows Vice President Kashim Shettima’s recent remarks in Belém, Brazil, ahead of the ongoing United Nations Climate Change Conference (COP30), where he called for the creation of new financial mechanisms to “harness the economic value of nature.”
However, in a joint statement, a coalition of environmental advocacy groups — including Corporate Accountability and Public Participation Africa (CAPPA), Health of Mother Earth Foundation (HOMEF), Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN), Lekeh Development Foundation, and Social Action — strongly criticised the proposal, describing it as “an attempt to commodify the environment and mortgage Nigeria’s ecological wealth.”
According to the groups, turning nature into an economic asset reflects a dangerous shift toward corporate and market-driven approaches that prioritize profit over people and the planet.
“We find this framing deeply troubling because it reduces nature — our collective heritage and source of life — to a mere economic asset,” the statement read.
“This approach, often masked under concepts like nature-based solutions, carbon markets, and carbon offsetting, encourages the financialisation of the environment, transforming ecosystems into speculative commodities traded for profit.”
The coalition warned that such policies have historically resulted in environmental degradation, the displacement of smallholder farmers and indigenous communities, and increased rural poverty and food insecurity. They argued that monetising natural resources violates human dignity and cultural rights while eroding indigenous peoples’ connection to their ancestral lands.
The statement also cautioned that commodifying nature could open the door to corporate capture and greenwashing, allowing polluting industries to buy carbon credits instead of cutting emissions, while projecting a false image of climate responsibility.
“This model risks eroding national sovereignty by mortgaging Nigeria’s ecological wealth to volatile international carbon markets and external investors,” the groups said.
They urged the federal government to prioritise people-centred, just, and equitable climate action, calling for inclusive national dialogue that involves government, civil society, indigenous peoples, and local communities before adopting any environmental or climate policy.
True climate justice demands that nature remains a shared trust, not a tradable commodity,” the coalition insisted. “The State’s duty is to protect the environment, human culture, and dignity — not to exploit them for market interests.”
The organisations further called on Nigeria to redirect its focus toward sustainable development pathways, including investment in renewable energy such as solar and wind, as well as community-led conservation and agroecology that protect biodiversity and ensure food sovereignty.
Signed:
Corporate Accountability and Public Participation Africa (CAPPA)
Health of Mother Earth Foundation (HOMEF)
Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN)
Lekeh Development Foundation
Social Action
and other partners committed to ecological justice and climate action
