Nigeria | Turning to the Private Sector to Meet its National Biodiversity Goals

Nigeria is turning to the private sector to meet its National Biodiversity goals aligning with the Kunming - Montreal Framework (GBF), a historic agreement established in 2022 to halt and reverse nature loss by 2030, featuring four 2050 Goals such as protecting nature, living with nature, sharing benefits, investing/collaborating, 23 action - oriented 2030 Targets, and promoting nature - positive finance and corporate responsibility to achieve a world living in harmony with nature by 2050.

Business leaders, policymakers and conservation experts met in Lagos by forming a Business Advisory Group (BAG) to create a national action plan for corporate involvement in conservation.

Speakers highlighted GBF target 15, which requires companies to access, disclose and reduce biodiversity impacts, and addressing gaps like weak enforcement and lack of sector - specific guidance in transition from awareness to concrete, limited incentives, SME capacity constraints and measurable action for sustainable resource use.

Business for Nature’s Africa Lead, Oluwaseum Ajayi said that the focus has shifted to execution and called for measurable corporate action, positioning Nigeria as a benchmark to demonstrate how companies can support national strategies. For the tourism sector, the move aims to safeguard natural assets that underpin destinations and investment. 

Insight from the session will inform a national business biodiversity action plan, alongside calls for co - designed policies, clear sector rules and sustained engagement through the BAG. 

With natural capital under pressure and sites such as the Hadejia - Nguru wetlands supporting livelihoods and ecotourism, aligning business with biodiversity goals is viewed as key to maintaining Nigeria’s nature-based tourism and long - term growth.

Key Features of the Initiative:

•    Private Sector Mobilization: Recognizing government - led efforts aren’t enough, Nigeria is bringing companies into the fold to implement its National Biodiversity Strategy and Action Plan (NBSAP).
•    Business Advisory Group (BAG): This platform facilitates collaboration between business, government, and conservation experts to co – design policies and create clear rules for sector - specific actions.
•    Focus on Global Framework: The initiative aims to meet targets from the Kunming - Montreal Global Biodiversity Framework (GBF), including Task 15, which requires companies to assess and reduce their biodiversity impacts. 
•    Addressing Implementation Gaps: The BAG will tackle challenges like weak enforcement, limited incentives, and SME capacity issues slowing down current conservation efforts.
•    Economic and Livelihood Link: The move highlights that Nigeria’s natural assets (forests, wetlands, marine) underpin agriculture, fisheries, tourism, and food security, making business participation crucial for long – term stability. 
•    Action - Oriented: The goal is to move beyond awareness tangible corporate actions, with companies playing a deliberate role in protecting ecosystems that sustain their operations.

Why it Matters: 

•    Sustainability: Businesses rely on nature for raw materials and ecosystem services, so protecting biodiversity ensures business continuity. 
•    Investment: Attracting private investment and integrating nature - positive practices like biodiversity credits is key to financing conservation. 
•    Policy and Practice: The initiative seeks to build trust and establish practical solutions, preventing anti – growth narratives by showing nature protection and economic growth can align.

Link 
https://atta.travel/resource/nigeria-enlists-business-to-deliver-biodiversity-targets.html