Abuja: An entrepreneur, Ebenezer Akarah, says Nigeria's untapped charcoal industry holds key to powering the economy and lifting the citizens out of poverty. Akarah in an interview with the News Agency of Nigeria (NAN), underscored the importance of the Federal Government integrating charcoal into its economic policies, highlighting its potential to transform the nation's economy.
According to News Agency of Nigeria, the global charcoal industry is valued at $2 billion, yet it remains largely unexploited in Nigeria's economic strategies. Akarah pointed out that during the 2025 Forest Economy Summit, the government announced plans to unlock $2 billion from Nigeria's forest economy, signaling progress but calling for more strategic actions. He emphasized the need for sustainable practices and warned against restricting charcoal exports, which have significant potential to boost Nigeria's economy.
Akarah, founder and CEO of Bricks to Crib Company, noted that although the government lifted the charcoal export ban in mid-2023, it imposed conditions requiring approval from the Ministry of Finance and identification from forest officers at ports. He highlighted the risk of another ban if Nigeria fails to meet the EU's December 2025 deadline for non-deforestation sourcing.
He described charcoal as a crucial biofuel and export asset that provides livelihoods for rural communities, despite its controversial nature. Akarah stressed that ignoring charcoal in national policy could lead to continued forest loss due to unsustainable practices and a lack of regulatory structure. He advocated for policies supporting afforestation and recognizing forest-based livelihoods.
Akarah cited Namibia as an example of successful charcoal exportation, with the country exporting 270,000 tonnes worth $80.5 million in 2023, compared to Nigeria's 443 tonnes valued at $119,470. He argued that charcoal represents revenue, jobs, and foreign exchange potential for Nigeria, urging the government to develop smarter and sustainable policies to capitalize on this opportunity.