FOREST ACCOUNTING IN NIGERIA: OPTIONS, STRATEGIES AND CHALLENGES

PDF

Published: 2022-07-30

Page: 1002-1012


M. S. IFURUEZE *

Department of Accountancy, Chukwuemeka Odimegwu University, Igbariam, Nigeria.

ONUIGWE, GLADYS CHIEBONAM

Accounting Department, Federal Polytechnic, Nasarawa, Nigeria.

*Author to whom correspondence should be addressed.


Abstract

The current study focused on forest accounting: options, strategies and challenges in Nigeria from the theory of natural resource perspective. Deforestation poses major threat to the Nigerian forest even though forests store a relevant portion of the global natural resource and provide a vast amount of ecosystem services, economic goods and social amenities to society. The study employed a survey research design. The paper framed two assumptions for testing. The one-sample t-test was employed in validating the hypotheses of the study. The study found a significant adoption and utilization of measurements of accounting for forestry in Nigeria. The study also found a significant use of analytical techniques to improve accountants’ performance in the accounting for accounting for forestry in Nigeria. Finally, the study also found a worthy association between forest accounting and sustainable development. Consequently, the study recommends amongst others that there should be a creation of Forest Reserves and that stringent legislation against deforestation be formulated as well as proper enforcement to serve as a deterrent to defaulters.

Keywords: Antheraea assama, Forest accounting, morphlogical features., natural resources, challenges, deforestation, natural resource theory


How to Cite

IFURUEZE, M. S., & CHIEBONAM, O. G. (2022). FOREST ACCOUNTING IN NIGERIA: OPTIONS, STRATEGIES AND CHALLENGES. Asian Journal of Advances in Research, 5(1), 1002–1012. Retrieved from https://jasianresearch.com/index.php/AJOAIR/article/view/340


References

Pandey AK, Tripathi YC, Kumar A. Non timber forest products (NTFPs) for sustained livelihood: Challenges and strategies. Research Journal of Forestry. 2016;10(1):1-7.

DOI: 10.3923/rjf.2016.1.7

Newell JP, Vos RO. Accounting for forest carbon pool dynamics in product carbon footprints: Challenges and opportunities. Environmental Impact Assessment Review. 2012;37:23-36.

Available:www.elsevier.com/locate/eiar. EIR-05778; No of Pages 14.

Denman KL, Brasseur G, Chidthaisong A, Ciais P, Cox PM, and Dickinson RE. Couplings between changes in the climate system and biogeochemistry. Fourth Assessment Report of the Intergovernmental Panel on Climate Change. Cambridge: Cambridge University Press. 2007;499– 588.

Krieger DJ. The Economic Value of Forest Ecosystem Services: A Review; The Wilderness Society: Washington, DC, USA; 2001.

Campbell ET, Tilley DR. Valuing ecosystem services from Maryland forests using environmental accounting. Ecosystem Services. 2014;7:141-51.

Yu X, Ma S, Cheng K, Kyriakopoulos GL. An evaluation system for sustainable urban space development based in green urbanism principles—A case study based on the Qin-Ba mountain area in China. Sustainability. 2020;12(14):5703.

Patil PJ. Forest accounting: A theoretical perspective. Int. J. Accounting Econ. Studies. 2017;5(1):36.

Available:www.sciencepubco.com/index.php/IJAES

UNEP. Protected Trees, Plant and Animal Biodiversity – United Nations Environment Programme – World Conservation Monitoring Center (UNEP-WCMC). World Database on Protected Areas; 2004.

FAO. Forest Resource Situation Assessment of Nigeria, FAO Rome, Italy; 2004.

Available:http://www.fao.org/docrep/00/ab578e/AB578E02

UN-REDD. Forestry and Macroeconomic Accounts of Nigeria: The Importance of Linking Ecosystem Services to Macroeconomics Executive summary for decision-makers; 2017.

United States Department of Agriculture (USDA). NRCS Conservation Programs; 2007.

Available:http://www.nrcs.usda.gov/programs/rcd/ site visited on 30th October, 2007.

Jacob DE, Olajide O. Relevance and challenges of Geographic information system (GIS) in the management of protected forest in Nigeria. Nigerian Journal of Agriculture, Food and Environment. 2011;7(2):63-66.

Kashaigilia JJ, Ernest Siwab. Information and communication technology for sustainable forest management in Tanzania: Challenges and opportunities. In: Global Dialogue on Emerging Science and Technology (GDEST), Geospatial Sciences for Sustainable Development in Africa, “Harnessing the flow of geospatial information in addressing the challenges of sustainable development in Africa” Cape Town, South Africa—17-19 March; 2008.

Jacob DE, Udoakpan UI, Daniel KS, Nelson IU, Okon KE. Strategies for ICT application in sustainable forest Management in Nigeria. Nigerian Journal of Agriculture, Food and Environment. 2013;9(1):56-62. Published March, 2013

Nsita S. Current and potential use of ICTs in the forest sector governance in Uganda. World Bank. 2010.

Wikipedia. Deforestation–Wikipedia: The Free Encyclopedia; 2008.

Available:http://en.wikipedia.org/wiki/deforestation.

Nsita S. Current and potential use of ICTs in the forest sector governance in Uganda. World Bank. 2010.

Available:http://rainforest.mongaby.com/deforestation/2000/Nigeria.htm).

Hendriksen ES. Accounting Theory Georgetown: Richard D. Irwin Inc; 1970.

Steinacker A. Externalities, Prospect Theory, and Social Construction: When Will Government Act, What Will Government Do? In Social Science Quarterly. Wiley Online Library; 2006.

Verma M. Use of the Green Accounting Approach to Assess the Contribution of Watershed Values of the Forestry Sector to the Gross Domestic Product of Himachal Pradesh. A paper presented in XII World Forestry Congress, 2003, Quebec City, Canada; 2003.

Available:www.fao.org/docrep/ARTICLE/WFC/XII /0975-A1.HTM

Pattanayak SK. Valuing watershed services: concepts and empirics from southeast Asia. Agriculture, Ecosystems & Environment. 2004;104(1):171-84.

Available:www.science direct.com.

Olatunji TE. Bringing sustainability to the fore in forestry through environmental accounting in Global Journal of Management and Research October-December. 2012;139-152.

Johnson N, White A, Perrot-Maitre D. Developing markets for water services from forests: Issues and lessons for innovators; 2011.

Available: www.Katoombagroup.org.

Nagothu U, Reis N, Sydness GS, Barton D. Feasibility of Payments for Watershed Services. Part I: A methodological review and survey of experiences in India and Asia; 2007.

Food and Agriculture Organization (2007) Forests and Water in Unasylva No. 229, Vol.58, 2007/4. Rome. 2007:4-7.

Jordon Stephen J, Hayes Sharon E, Yoskowitz David, Smith Lisa M., Summers J. Kevin, Russell Mare and Benson H. William. Accounting for natural resources and environmental sustainability: Linking ecosystem services to human well-being. Environmental Science & Technology. 2010;xxx(xx). Available:https://doi.org/10.1021/es902597u.

Partha Dasgupta. The Place of Nature in Economic Development, University of Cambridge and University of Manchester Lon-don, UK; 2009.

Shunsuke Managi Pradyot Ranjan Jena in their research paper entitled Productivity and Environment in India, Economics Bulletin. 2006;17(1):1-14.

Mkanta WN, Chimtembo M. Towards Natural Resource Accounting In Tanzania: A Study On The Contribution Of Natual Forests To National Income; 2002.

Haripriya GS. Integrating forest resources into the system of national accounts in Maharashtra, India. Environment and Development Economics. 2000;5(1):143- 56.

Akintoye OA. Impact of Logging on Non-Logged Species and Effect on rural socio-economic development in Ikom local government area. A masters of Science Degree Thesis, Department of Geography and Environmental Science, University of Calabar, Calabar, Nigeria; 2003.

Bangkok. Natural Resources Accounting in China; 2017.

Harris M, Fraser I. Natural resource accounting in theory and practice: A critical assessment. Australian Journal of Agricultural and Resource Economics. 2002;46(2):139- 92.

Hicks JR. Value and Capital, Oxford: Oxford University Press. Hicks Value and Capital1946; 1946.

Available:http://www.bized.co.uk