This paper explores nature-based economies (NbEs) and the politics of value in rural Nigeria, positioning everyday livelihood practices within wider debates on sustainability, governance, and development. It examines how rural populations rely on land, water, forests, and biodiversity for economic survival, while simultaneously engaging with contested political and institutional processes that determine access to, and control over, natural resources. Drawing on secondary data, the study synthesises interdisciplinary scholarship on NbEs, nature-based solutions, and rural governance, alongside a comparative review of local, national, and global frameworks for valuing nature. The study is informed by Political Ecology, which emphasises that environmental outcomes are inseparable from power, inequality, and governance. Findings indicate that NbEs underpin rural livelihoods, yet their benefits are unevenly distributed due to weak governance, elite capture, and policies prioritising commercial or extractive interests. The study also shows that practices such as agroforestry and ecosystem restoration enhance livelihood security and support climate adaptation; however, their transformative potential is constrained by conflict dynamics, institutional fragmentation, and limited integration into development planning. Furthermore, the paper demonstrates that the valuation of nature is inherently political, shaped by competing livelihood claims, conservation objectives, and development priorities. It concludes by recommending more robust participatory governance, closer integration of NbEs into rural development and conflict-prevention strategies, and the establishment of sustainable financing and regulatory mechanisms to promote equitable, inclusive, and environmentally sustainable outcomes.