Deforestation is a pressing issue in Nigeria, with significant impacts on both the environment and the people who rely on it. Deforestation in Nigeria is undeniable, and urgent action is needed to address this issue. According to the United Nations, Nigeria has the highest deforestation rate in the world, with an estimated 3.7% of its forest lost every year. Many of our forests are gradually turning into grasslands due to the incessant felling of trees without the planting of new ones. The law in the advanced world, is that you replace every tree you fell with three seedlings of that very specie. However, in Nigeria, those who are into timber business pay for tree seedlings, but are never given to plant as replacement for the trees they fell. Twenty years from now, some wood species may go into extinction in Nigeria. The aim of this study therefore, is to examine some causes of deforestation in Nigeria, its impact on the environment and our economy and to suggest some management strategies. The methods adopted for this study are analytical and phenomenological. The findings of this study are as follows: deforestation is a recognized indicators of environmental degradation and its effects span the macro and micro levels, moving from adverse impacts on the economy to posing danger to human health. Given the inherent benefits of forest resources, which include income and economic growth, they are liable to continuous exploitation. This, without adequate policy restriction can lead to environmental problems that were once prevented by the existence of forests. It is therefore recommended that the government should put in place, poverty reduction programs, which are pivotal in reducing deforestation and degradation of the forest.