“…In that regard therefore, it is not objectionable that environmental degradation, particularly watershed destruction has been on the rise, leading not only to economic costs to governments and water management authorities, but also social costs, particularly to poor people who are disproportionately dependent on natural resources for their livelihoods. It is due to the failure of command and control approaches that environmental and natural resources economists, environmental scientists, conservationists and practitioners came up with an incentive-based mechanism known as Payment for Environmental Services (PES), synonymously known as payment for ecosystem services, which has attracted interest as a mechanism that translates external, non-market values of the environment into real financial incentives for local actors to provide environmental services [2].…”