Bio Prospecting In Nigeria: Evaluating The Adequacy Of Laws And Practices And The Implications For The Environment

Abstract

Bio-prospecting is a subject of interest especially as to its utility in environmental protection. It is the purposeful evaluation of wild biological
materials in search of valuable new products and involves the application
of advanced technologies to develop new pharmaceuticals, agrochemicals,
cosmetics, flavorings, fragrance, industrial-enzymes and other products
from biodiversity. On the face of it, bio-prospecting is a major threat to the
continuous flow of genetic resources. However when substituted with other
consumption patterns or when properly regulated such that benefits derived
from it are invested in technologies geared towards conserving the databank
of the bio resources, or the provision of the needs of the local peoples whose
practices mount undue pressure on the resources, it becomes a viable tool
for resource conservation.
This paper examines the regulatory regime of bio-prospecting in Nigeria
from international and national perspectives to evaluate their adequacy. It also
examines the environmental implications of the state of affairs and recommends the protection of the local peoples’ interest, and their involvement
in strategic planning and policy formulation on bio prospecting, amongst
others as a way of bio conservation to profit bio-prospecting.