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By Lukman Olabiyi
A coalition of environmental rights organisations has strongly criticised Vice President Kashim Shettima’s recent call for new financial mechanisms to harness the economic value of nature, warning that the proposal risks turning Nigeria’s environment into a commodity for profit.
Speaking ahead of the ongoing United Nations Climate Change Conference (COP30) in Belém, Brazil, Vice President Shettima had urged the creation of systems that would monetise Nigeria’s natural assets as part of efforts to fund climate action.
But in a joint statement, the 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, condemned the proposal as a concerning misinterpretation of true climate justice.
According to them, the Vice President’s comments align Nigeria with corporate and market-driven interests rather than with the rights and well-being of its people, especially those most affected by climate change.
“We find this framing deeply troubling because it reduces nature our collective heritage and source of life to a mere economic asset.
“This approach, often disguised under concepts like ‘nature-based solutions,’ ‘carbon markets,’ and ‘carbon offsetting,’ encourages the financialisation of the environment, turning ecosystems into speculative commodities traded for profit,” the statement read.
The groups warned that such schemes have historically led to ecosystem destruction, displacement of indigenous and rural communities, and worsening food insecurity.
They also argued that commodifying nature violates human dignity, erodes cultural rights, and strips indigenous peoples of their traditional stewardship roles.
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“It opens the door to corporate capture and greenwashing where polluting companies buy carbon credits instead of cutting emissions, continuing to destroy the planet while pretending to be climate champions,” the statement added.
The coalition further cautioned that monetising natural resources could threaten Nigeria’s sovereignty by tying its ecological wealth to volatile international carbon markets and foreign investors.
Instead, the organisations urged the government to focus on people-centred climate policies that prioritise sustainability, equity, and human rights.
They called for greater investment in renewable energy sources such as solar and wind, as well as in agroecology and community-led conservation initiatives that protect biodiversity while ensuring food security.
They also emphasised the need for inclusive national dialogue involving civil society, indigenous peoples, and local communities before advancing any environmental policy or international climate commitments.
“True climate justice demands that nature remains a shared trust, not a tradable commodity.
“The duty of the State is to safeguard the environment, human culture and dignity not to exploit them in pursuit of profit,” the statement concluded.
The statement was jointly signed by CAPPA, HOMEF, ERA/FoEN, Lekeh Development Foundation, Social Action, and other partners committed to ecological justice and climate action.
