The Nigerian Conservation Foundation (NCF) made remarkable strides in 2023, with a 4.14% increase in assets and a staggering 1,474.34% surplus.
The foundation’s impactful initiatives included planting 285,000 trees and maintaining over 400,000 hectares of natural forest reserves across Nigeria, demonstrating its unwavering commitment to environmental sustainability. This progress was highlighted at the 35th Annual General Meeting (AGM) on October 2, 2024 in Lagos.
The meeting was presided over by the President of the Board of Trustees (BOT),Chief Izoma Philip Asiodu CFR, CON.
NCF, the leading environmental NGO in Nigeria, has a mandate to create and sustain a Nigerian environment where people prosper while living in harmony with nature. The foundation mainly operates through partnerships with both local and international.
According to the financial statement signed by Chief Asiodu and the Director General, Joseph Onoja who also serves as the Secretary of the foundation’s BOT, NCF’s assets in 2023 totaled N19,455,842 compared to N18,681,902 in 2022 representing an increase of N773,940 or 4.14%.
There was a depreciation in NCF’s non-current assets unlike the current assets that appreciated.
Under non-current assets, Property, plant and equipment decreased to N594,762 in 2023 from N610,938 in 2022. Similarly, Forests and Eco Park reduced to N17,038,828 in 2023 from N17,296,329 in 2022.
On the current assets side, the majority of the assets came from Cash and cash equivalents which stood at N1,558,651 in 2023 compared to N628,400 in 2022. Trade and other receivables amounted to N258,456 in 2023 compared to N628,400 in 2022.
The financial statements were approved by the BOTs and authorised for use on September 4, 2024.
Despite the environmental sustainability projects executed during the year, the foundation reported a surplus of N844,018 in 2023 compared to N53,611 in 2022, representing a significant increase of 1,474.34%.
The financial statement of income and expenditure shows that the income almost doubled in 2023 compared to 2022, with the Government grant being lower at N268,611 in 2023 compared to N268,618 in 2022.
The foundation’s major sources of income were fees, subscriptions, and contributions from donors, totaling N613,562 in 2023 compared to N451,567 in 2022.
The financial statements were audited by Deloitte.
Presenting the account, an official of the auditing firm, Chizoba Onyebuchi stated, “In our opinion, the Financial Statements give a true and fair view of the financial position of the Nigerian Conservation Foundation as at December 31, 2023 and of its financial performance and cash flows for the year then ended in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board and the requirements of the Companies and Allied Matters Act 2020 and the Financial Reporting Council of Nigeria (Amendment) Act, 2023.”
“The foundation has kept proper books of account, as far as appears from our examination of those books,” added Onyebuchi.
Meanwhile, Asiodu disclosed that the foundation planted 285,000 trees across the country in 2023 alone. He stated, “Working with international and local donors including corporate partners, we implemented a lot of projects under the Green Recovery Nigeria (GRN) programme, a flagship programme of the NCF Strategic Action Plan (SAP 2021-2025).
“The GRN which started in 2017 is a 30-year ambitious programme which seeks to recover and restore Nigeria’s forest cover from the current 7% to 25% by 2047. We are consistently pushing towards achieving this goal”.
The NCF BOTs President highlighted projects executed during the year under review, stating, “Despite the numerous challenges posed by global uncertainties, we have made significant strides in advancing our mission that focuses on the conservation of species, ecosystems, and genetic biodiversity to help build a Nigeria where people prosper while living in harmony with nature.
“In the year under review, we hosted the 21st edition of the Chief S.L Edu Memorial Lecture, our flagship advocacy tool used to set the agenda for the foundation and call the attention of all stakeholders to germane issues on environmental sustainability and nature conservation. The keynote Speaker, Mr. Martin Harper, CEO of BirdLife International made an incisive presentation on the theme,” Humanity and the Twin Crises of Climate Change and Biodiversity Loss”. Two PHD grants were also awarded to two students at the lecture. We thank the Chief S.L Edu family and Chevron Nigeria Ltd for their consistent support to the lecture for over two decades.
“Several conservation projects were implemented under the Saving Species in Peril Pillar. Some important aspects of our strategy and resource mobilisation were targeted at some of our focal species. Working with diverse partners, we implemented projects for the preservation of endangered animals, birds, and plants species. These projects focused on the conservation of species like the Critically Endangered Cross River gorilla, wild cats like lion and leopard, sea turtle, the African forest elephants, vultures and others.
In properly galvanizing efforts towards tackling the climate change crisis, we inaugurated the Nigeria Climate Justice Alliance (NCJA) in July 2023. The support we received from Ford Foundation helped in achieving this. Through this alliance, we now have passionate CSOs who are promoting one agenda or the other in tackling the impact of Climate change”.
The newly elected Chairman of the National Executive Council (NEC) of NCF, Hon. Justice (Mrs.) R.I.B Adebiyi, revealed plans by the foundation to scale conservation efforts, increase advocacy and policy influence, enhance the capacity of workers and promote sustainable development practices “that balance ecological preservation with economic growth, ensuring that conservation benefits all Nigerians. Adebiyi stressed that “Through our various reforestation and habitat restoration projects under our flagship programme-the Green Recovery Nigeria (GRN) programme, we successfully planted over 285,000 trees , rehabilitating degraded landscapes and promoting ecosystem resilience”, adding that, “ we did all of these in addition to the continued management of the following: Lekki Conservation Centre (78 hectares), Becheve Nature Reserve (120 hectares), Omo Forest Reserve (65,000 hectares), Finima Nature Park (1,000 hectares), Hadejia-Nguru Wetlands Conservation (350,000 hectares). All of these were possible, thanks to the support of our traditional and new partners.”
The foundation’s Director General (DG), Dr. Joseph Onoja expressed satisfaction that their financial standing “remains strong and keeps getting better every year. Shedding light on the foundation’s impressive financial outlook”. Onoja reported, “We have diversified our funding sources, with increased support from individual donors, corporate partners, and international organisations. Our prudent financial management has ensured that we maximize the impact of every naira received. We remain committed to transparency and accountability in all our financial dealings”.
Regarding setbacks, he motioned, “While we celebrate our successes, we must also acknowledge the challenges we have faced. Issues such as donor fatigue, change of the leadership of MDAs necessitated by the advent of the new government in Nigeria, limited cooperation from some state governments, illegal logging, habitat encroachment, and climate change continue to pose significant threats to our conservation efforts. However, these challenges have also provided valuable lessons, reinforcing the importance of resilience, innovation and collaboration.”
