The Federal Government has launched the Nigeria Beyond Oil and Gas Alliance (BOGA) Fund Programme, a two-year initiative designed to assess the economic risks and opportunities in the country’s evolving energy landscape.

The programme will assist the government in developing policy options for long-term diversification beyond oil and gas.

Speaking at the launch of the programme in Abuja, Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, said Nigeria must pursue diversification in a manner that is environmentally responsible, technologically driven and rooted in the country’s local economic strengths.

According to him, diversification is not merely about reducing dependence on oil revenues but about applying science, skills and technology to traditional sectors such as agriculture, fishing, artisanal mining and woodwork to unlock higher value in a climate-smart manner.

Drawing lessons from Norway, Bagudu said the country has maintained strong fishing, agricultural and cultural industries despite being a major energy producer, demonstrating that economic uniqueness can be developed sustainably.

He also cited the Netherlands as an example of how a small landmass can generate agricultural exports that far exceed Nigeria’s peak oil earnings, driven by technology and efficient value chains.

Bagudu disclosed that the Federal Government is advancing a development framework that maps economic potential at the ward level to identify what communities do best and connect them with financing, skills and technology to scale productivity responsibly.

He said that, for instance, fishing communities could be supported to meet global standards and supply international seafood markets, while farmers could be equipped with improved seedlings and climate-resilient practices.

In her keynote address, the Director-General of the National Council on Climate Change, Omotenioye Majekodunmi, said Nigeria’s journey beyond oil is not a retreat from the country’s status as an energy powerhouse, but an evolution into a green energy giant.

“Our collaboration with BOGA reinforces our commitment to the 1.5°C pathway while prioritising a development trajectory that is fair, funded, and focused on the prosperity of our people”, she said.

Head of the Secretariat of the Beyond Oil and Gas Alliance, Sian Bradley, said the programme would support Nigeria’s early planning for a just and orderly transition while addressing methane and upstream emissions and advancing decarbonisation efforts.

She commended the acknowledgement of Nigeria’s economic challenges and the need for bold economic diversification pathways in the country’s third NDC.

Executive Director of Africa Policy Research Institute, APRI, who is the programme’s lead implementing partner, Olumide Abimbola, stated that the initiative will help Nigeria develop a clearer, shared understanding of what a changing global energy landscape could mean for Nigeria.

“This is in the aspect of our revenues, our jobs, our industries, and our communities – and what practical options are available to strengthen resilience. It will also help us identify credible pathways for economic diversification beyond oil and gas, and the kinds of policies and enabling conditions needed to unlock new opportunities and drive competitiveness”, he said.

Director General of Society for Planet and Prosperity (SPP), Prof. Chukwumerije Okereke, stated that Nigeria’s challenge is not simply to transition away from fossil fuels, but to strategically manage the risks and opportunities of a changing global energy system.

He said the BOGA Fund Programme is

important because it anchors this transition in rigorous evidence, economic realism, and justice for workers and communities.

The programme is implemented by APRI, in collaboration with the Society for Planet and Prosperity (SPP).

The development of the BOGA Fund programme in Nigeria was led by the National Council on Climate Change (NCCC), which established a cross-government working group to develop the programme, including representatives from the Ministry of Petroleum, National Upstream Petroleum Regulatory Commission, National Midstream and Downstream Petroleum Regulatory Authority, Ministry of Environment and Nigerian National Petroleum Company.

The initiative complements existing national and international climate efforts by providing an integrated platform for evidence-based policymaking, institutional coordination and long-term economic resilience. (The Guardian)