Economic Incentives as a Tool for Reducing Deforestation in Egba Division of Ogun State, Nigeria

The study was carried out to assess economic incentives as a tool for reducing deforestation in Egba Division of Ogun State. Data collected from 120 respondents were analysed using descriptive statistics and logistic regression model while Likert scale was used to rate the mean score of anthropogenic factors promoting deforestation and economic incentives used for reducing deforestation. The result showed that majority (68.3%) of the respondents were male with (32.7%) female. On age, 41-50 years (63.3%) recorded the highest. Educationally, (51.7%) had primary education, (31.7%) no formal education, (15.8%) with secondary education while (0.8%) had tertiary education. On income, major income recorded a mean of ₦29, 066 while minor income recorded a mean of ₦13, 600. The anthropogenic factors identified were setting forest ablaze, expanded agricultural activities, low literacy level, rising timber industry, rising population and poverty. The economic incentives identified include provision of subsidies for forest crops, improved taxation system on exploited forest logs, acquisition of well monitored license permit by hunters, alternative employment opportunities, provision of credit and selective ban on exportation of round logs. Logit regression results identified socioeconomic factors on incentives, with only education as the statistically significant variable at (p<0.05). Conclusively, Economic incentives can be an effective tool for reducing deforestation if properly monitored and implemented. Thus, deforestation activities cannot be totally eradicated but adequate implementation of forest policy in terms of effective policing of the forest can reduce it to the barest minimum.