ABSTRACT

---

Abstract
Deforestation has exacerbated the greenhouse gas emission and the consequent impact on climate change. Development efforts in the last five decades, has led to increased degradation of the environment. Forests play a crucial role in ameliorating the impact of greenhouse gases emitted by industries and households. This study examined the prevalence of deforestation, as an indication of environmental service base loss, and identified the nature of climate change impacts occurring in Osun State forests. Contingent Valuation Model (CVM) using the Willingness to Pay (WTP) was adopted to assess the climate change dimensions of deforestation and provide values for accounting purposes. Survey of stakeholders around the forest reserves in Osun State, Nigeria was undertaken. Data gathered and analysed showed that over 18,000 hectares of original forest reserves were deforested with a prevalence of 38.3%, growing at about 4.76%. There was significant difference in respondents’ average WTP for carbon balance (N3,682.74) and greenhouse gases reduction (N3,573.68) at p < 0.05. It was concluded that deforestation is prevalent in the forest reserves of Osun state, Nigeria. The impacts of deforestation measured through CVM provides basis for modelling climate change implications for accounting purposes. It was recommended that tree planting should be accelerated while the activities of those who convert wood to charcoal should be discouraged. Conscious effort to boost carbon sequestration should be encouraged through expansion of forests.
Keywords: deforestation, climate change, Contingent Valuation Model, willingness to pay

---