The Niger Delta region in Nigeria is experiencing significant loss of its mangrove forests.
The decline is primarily due to factors such as deforestation, oil exploration and spills, industrial activities, and climate change.
These activities have led to widespread environmental degradation, which affects biodiversity, disrupts local livelihoods, and contributes to the broader impacts of climate change.
To this end, the Rivers State Government, in partnership with Serendib Capital, Eight Versa, and the Foundation for Partnership Initiatives in the Niger Delta (PIND), has entered into a 30-year Memorandum of Understanding (MoU) to launch a comprehensive mangrove restoration and conservation initiative.
This project aims to cover 240,000 hectares of seagrass and is set to become the largest blue carbon initiative globally.
It will encompass extensive mangrove restoration, seagrass conservation adjacent to 170,000 hectares of mangrove areas, sustainable agriculture, tree planting, and biochar production, among other activities.
In a statement by Nelson Chukwudi, the Chief Press Secretary to Governor Siminalayi Fubara, the initiative is part of the broader Delta AZURE program, which aspires to be the world’s largest blue carbon project.
Following the MoU signing in Port Harcourt, Rivers State Commissioner for Energy and Natural Resources, Maximus Uchechukwu Nwafor, emphasized that the project would significantly benefit the state and bolster its revenue.
Nwafor stated, “We have signed an MoU with Serendib Capital, which will benefit our state and increase our revenue. I would like the Managing Director to further acquaint us with the project’s details.
“We have requested that they provide us with all necessary requirements, including security and other aspects. Once we receive this information, we will ensure the project’s success.”
Chief Executive Officer of Serendib Capital, Rafat Rizvi, highlighted that the recently signed MoU represents a major collaborative effort aimed at achieving significant environmental and socio-economic benefits in Rivers State.
Rizvi, noted that this initiative is intended to serve as a global benchmark for future mangrove restoration projects.
He emphasized that the project’s launch is a pivotal advancement in safeguarding Nigeria’s crucial mangrove ecosystems and fostering sustainable development in the state.
“Nigeria’s mangrove forests, spanning 10,500 km, are the largest in Africa and third-largest globally.
“These vital ecosystems provide biodiversity support, flood prevention, coastal erosion protection, and carbon sequestration.
“They face severe degradation, with the Niger Delta region losing approximately 40% of its mangrove forest between 1996 and 2016.”
According to him, the conservation project is expected to generate carbon credits, offering local communities an alternative income source and encouraging their active participation.