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Investment potential of forestry development

Forestry is as important as agriculture. The forest contributes to food security and provides goods and services for man. We are all linked to the forest because right from childhood, the pencils and exercise books we use in schools are made from wood. Wood, a product of the forest, is used in construction of houses, bridges and so on and of all the materials that could be used for doors, wood still provides the most aesthetically appealing alternative. It is used by the pulp and paper industry to produce newsprint, bond and other types of paper. Pulpwood is also used by the textile industry to produce rayon. Pulpwood is currently a viable export product.
The Director General of the Forestry Research Institute of Nigeria, Professor Solomon Badejo, says, “There is hardly any economic wood specie that is not available within the ecological zones of this country. Besides, modern technology now enables us to treat woods and make them appear like the more exotic species.”
Forestry development is therefore a wise investment choice. Apart from its economic benefits, there are also numerous health and environmental benefits to reap. Most trees have medicinal applications. A forestry developer also leaves an enduring legacy for his own offspring and for all of mankind.
Wood is a very valuable and affordable resource for housing development if the wood is properly processed before use.  The construction industry is still one area where we have not really deployed our wood resources. Some of the wood houses built by the colonialists are still standing. We have to do away with the mentality that we can only use cement and blocks to build. Wood can be well treated to prevent attack by insects and to reduce vulnerability to fire outbreaks. Badejo says that there is ongoing research at FRIN to localise the technology for wood processing to make it safe and convenient for use in the construction industry.
Agro-forestry is one of the very feasible approaches to forestry development. Entrepreneurs and banks find it difficult to fund forestry development because some trees can take up to 20 years to attain full maturity, but with agro-forestry, the farmer can earn income while waiting for the trees to mature.
The government or large-scale forestry developers or development agencies sometimes use this system to engage farmers who have difficulty with access to farmlands. The farmers help to develop forest areas while benefiting from the food crops they plant alongside the trees. After about 3-5 years, the farmers would go elsewhere to farm, leaving the budding forest to mature. Some of the food crops that can grow well under this system are yam, short rotation (6months) cassava, maize and millet, groundnuts.
Another creative approach to agro-forestry, where there is a large piece of land, is to divide the land into compartments. For example, if you are interested in planting trees that would take 15 years to mature, you divide your farmland into 15 compartments to avoid long periods of waiting and you take up forestry development on that land in phases. This technique is called couping.
In the first year, you could plant your trees on one piece of land while food crops take the rest; the following year, you extend the trees to the second piece of land while subsisting with income from the rest of the farmland. This would go on until all 15 compartments have trees on them. By the 15th year, when food cropping would stop, the first harvest from the trees would begin and this ensures that the farmer has a harvest every year.
Many people complain about poor revenue from forestry development but this is only because they do not take advantage of current trends in forestry management and they do not engage professionals to assist them. Management is a key word in forestry.
Forestry would deliver unbelievable rewards in goods and services if efficient and prudent management techniques are deployed. There is a guaranteed market for quality timber, especially for electrical and telegraphic purposes, furniture making and so on; not only in Nigeria but in the West African sub-region as well- even wood wastes are useful raw materials for the production of valuable goods like ceiling boards, non-ceramic floor tiles and so on.
Production of wood products that utilize wood particles as raw materials present an opportunity for commercial forestry developers; by giving the developers a chance to grow trees with shorter gestation. Trees grown for production of particleboards can be harvested within 7-10 years of planting.
Would-be investors who seek professional advice while developing their tree plantations would get impressive returns on their investments. There are modern practices that have been developed over time that will lead to increased yield.
Even time of maturity can now be manipulated with good management techniques and biotechnology to half of the conventional period. Some Agencies like FRIN and Cocoa Research Institute, both in Ibadan have done a lot of research in the area of forestry management that will be of immense benefit to plantation owners or entrepreneurs who wish to invest in forestry development.

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