Considerations for sound policy on investment in the forestry sector: a case study of Osun and Oyo States, Nigeria.
AbstractThis paper examines the amount of real capital produced in terms of standing trees during some periods in the forestry sector of Osun and Oyo states with a view to considering sound policy on investment.
Information were gathered through the use of primary and secondary data. The information obtained were analyzed using bar charts and simple percentages.
The results indicate that inadequate and epileptic investment strategy is continually experienced in the forestry sector despite the fact that the sector is one of the major revenue generating sectors in Osun and Oyo states. Lack of engagement in exploitation, marketing and haulage of forest produce; improper application of Forestry Trust Fund; and lack of partnership involvement in the management of forestry sector in the two states impacts negatively on the forestry sector.
It is recommended that government should of necessity accord forestry department its fair share of funding rather than system of budgeting based on annual appropriation from general revenue and on direct control from the treasury. The policy that recognizes the need to reserve in perpetuity the existing forests and wherever possible add to them should be promoted, there is need for autonomous ministry and community participation in forest management be promoted.
[JEXT Vol.3 2002: 21-27]