Most environmentalists have for decades decried the continued devastation of the mangrove forest. One of them, Lawrence Dube of the Natural Justice – Nigeria, said the only agenda that would impress people like him is a scheme that would restore the mangrove through reforestation.
Now, such dream seems to be around the corner with the signing of agreements by some state governments in the Niger Delta with Serendib Capital, Eight Versa, and Foundation for Partnership initiatives in Niger Delta (PIND). The latest signing of a memorandum of understanding (MoU) was signed with the Rivers State government to kickstart a collaboration on a wide-scale mangrove restoration and conservation project in Nigeria’s Niger Delta region.
The project would be part of a larger mangrove marine ecosystem restoration programme known as Delta Azure which would be the world’s largest blue carbon project.
According to the officials of the scheme, the project would integrate mangrove restoration, seagrass conservation, sustainable agriculture, tree planting, biochar production, and more to bring about a transformative shift in environmental and socio-economic gains in Rivers State.
It would be a blueprint for further mangrove restoration projects across different geographies.
According to Serendib’s estimations, this mangrove restoration project would prevent the deforestation of 170,000 hectares of forest through afforestation, reforestation and revegetation and replantation.
On the 30th July 2024, Serendib Capital’s first office in Nigeria was commissioned by the governor of Delta State, Sheriff F.O. Oborevwori. This action was said to show the commitment of the organisation to the agreements spelled out in the MoU signed in February 2024. And now Serendib is set to expand its efforts into Rivers State, it was stated.
“The conservation project would generate carbon credits that would be used as an alternative income source for those local people who may otherwise make an income from illegal logging and deforestation.
The MoU signing was supervised by the Rivers State Attorney General and Commissioner for Justice, Dagogo Israel Iboroma (SAN), and signed by the Commissioner for Energy and Natural Resources, Uchechukwu Nwafor.
The Managing Partner and Chief Executive Officer, Serendib Capital Limited, Rafat Rizvi, and the Chief Operating Officer, Serendib Capital Limited, Christian Elemele, signed on behalf of Serendib Capital Limited.
Speaking, the Rivers State Commissioner for Energy and Natural Resources said the project would integrate mangrove restoration, seagrass conservation and sustainable agriculture. He also observed that the project would aid in tree planting and biochar production.
He said, “The project will benefit the State in no small measure, and in particular, increase our Internally Generated Revenue (IGR).
“The Rivers State Government, will therefore, provide the needed logistics in line with the terms of the MoU as well as security to ensure the success of the project,” he asserted.
