Valuation of Non-Timber Forest Products Using Income Approach

Non-Timber Forest Products are products found in forest reserves across the world. They generate revenue to the local people who depend on them for economic sustenance. Unfortunately no proper attention is given to the products for compensation in the event of acquisition of the forest where they thrive. Cost implications arising from labour, transportation, and work implements were not accounted for in the reviewed literature in the valuation of these products. This work used income realized from Contingent Valuation Method to place values on Non-Timber Forest Products after capitalizing the income. The African forest snail and Gnetum Africana (locally called "Okazi") were selected for analyses. The research method adopted was mixed method which employed quantitative and qualitative approaches. The target groups for which the book was written include: Practitioners of Estate Management and Valuation (Appraisers), students of Estate Management and Valuation, institutions offering Estate Management and Valuation, claimants whose forest lands are acquired, legal practitioners leading claimants in defense and others.