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Willingness-to-pay for Environmental Services Provided By Trees in Core and Fringe Areas of Benin City, Nigeria 1

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Economic valuation of environmental services has emerged as a new and more direct argument and incentive for protection of trees and sustenance of environmental quality. This study's aim was to estimate the monetary value for conservation of urban trees and environmental services in Benin City, Nigeria. A Contingent Valuation Method involving a survey of 350 residents was adopted for the study. Flooding and erosion control, scenic beauty, provision of shade and regulation of local temperature received positive rankings and high scores. Thus, an average of US$1.20/month, which yielded an aggregate value of US$1 200 000 to US$1 860 00, was the amount Benin City residents were willing to contribute towards the conservation of trees. This study identified profession, years of residency and indigenous knowledge of ES as significant predictors that can influence willingness-to-pay. The findings provided quantitative data to demonstrate the importance of conserving trees to town planners, forest managers, policy makers and the urban community.
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Keywords: CONTINGENT VALUATION METHOD; MONETARY VALUATION; PAYMENT CARD; PERCEPTION; RESIDENTS

Document Type: Research Article

Publication date: March 1, 2019

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