International Journal of Advance Social Sciences and Education (IJASSE)
Vol. 2 No. 2 (2024): April 2024

Assessment of Willingness to Pay for Wetlands Protection in Ondo State, Nigeria

Arifalo S. F (The Federal University of Technology, Akure, Nigeria)



Article Info

Publish Date
27 Apr 2024

Abstract

Wetlands provide numerous kinds of advantages and functions, making them vital ecosystems. However, the exploitation of these resources has led to their significant depletion. Engaging communities who rely on wetlands in their sustainable management is crucial to stem the degradation of these critical habitats. This research investigated the willingness of individuals to donate financially to the conservation of wetlands in Ondo State, Nigeria. It aimed to identify the factors influencing the community's willingness to pay (WTP) and to measure the financial commitment made to wetland restoration. A systematic multi-phase sample method was used to survey 124 people who lived close to wetlands. The Binary Probit Regression Model (BPRM), the Contingent Valuation Method (CVM), and descriptive statistics were all included in the analysis. The results show that the majority of respondents (64.5%) were men, with an average age of 60 and a typical household size of six people. The importance of wetlands as water reserves was emphasized by more than half of the respondents (52%) to the survey. Moreover, 53% of respondents said that they would be willing to contribute financially to the conservation of wetlands, with an average monthly payment of ₦1038.68. Gender, household size, proximity to wetlands, and yearly income were found to be significant predictors of WTP for wetland preservation in the BPRM analysis. The study highlights the community's overall willingness to contribute to wetlands protection. It promotes laws and initiatives meant to raise regional revenues and encourage more community participation in wetland preservation.

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Journal Info

Abbrev

ijasse

Publisher

Subject

Education Environmental Science Law, Crime, Criminology & Criminal Justice Mathematics Social Sciences Other

Description

The International Journal of Advance Social Sciences and Education (IJASSE) is an international platform and peer-reviewed online journal that publishes original research papers, reviews, and theoretical manuscripts. IJASSE welcomes submissions related to academic and scientific practices, ...