This study was carried out to assess diversity, biomass and carbon storage potential of some tree species in a Nigerian forest. All trees with Dbh >10cm were enumerated. Tree growth variables, namely the Diameter at the base (Db), Diameter at breast height (Dbh), Diameter at the middle (Dm), Diameter at the top (Dt) and height, were measured for basal area and volume estimation and their frequency of occurrence was ascertained for tree diversity assessment. Fifty-six (56) trees distributed among 21 species and 11 families were enumerated in this study area. Some of these species were Acacia ataxacantha, Blighia sapida, Alstonia bonnie, Ceiba pentandra, Celtis zenkeri, Khaya ivorensis, etc. Funtumia elastica had the highest frequency of occurrence (11 stems) with a Relative Density of 19.64%. Therefore, it could be regarded as the most abundant tree species in the forest. Shannon Wiener index of 2.62 was recorded for this study with an evenness value of 0.86. Khaya senegalensis stored the highest carbon of 4.86 tonnes, and total Above Ground Biomass (ABG) of 53.64 g/m2, equivalent to 26.82 tonnes of Carbon was obtained for all the tree species. The results from this study showed that there is high level of forest degradation in the study area. Though, the forest could only store small amount of carbon but it has been able to reduce the amount of carbon escaping into the atmosphere. Conservative measures must be put in place to protect the forest from further degradation and this will go a long way in mitigating climate change by serving as carbon sinks.