FG Launches BOGA Fund to Support Economic Diversification, Resilience
Emmanuel Addeh in Abuja
The federal government has officially launched the Nigeria Beyond Oil and Gas Alliance (BOGA) Fund Programme, a two-year initiative designed to assess the economic risks and opportunities associated with Nigeria’s evolving energy landscape.
The programme is also meant to develop policy options that support economic diversification and long-term structural transformation beyond oil and gas.
The national launch, held at the Abuja Continental Hotel, convened senior government officials, and non-government actors including development partners, private sector actors, and civil society organisations.
The programme will strengthen analytical foundations for policymaking, support coordinated policy dialogue, and translate evidence into actionable recommendations aligned with Nigeria’s climate and development priorities, including delivery of the country’s Nationally Determined Contribution (NDC).
Delivering the special remarks, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, underscored the need for a strategic approach to Nigeria’s diversification agenda, emphasising that the country must place greater value on its unique strengths while leveraging the right technologies and skills to drive sustainable growth.
He noted that effective economic diversification must be anchored in strong climate consciousness, stressing that Nigeria has the opportunity to grow its economy in ways that minimise environmental impact while strengthening resilience and creating jobs.
Also speaking, Director General of the National Council on Climate Change (NCCC), Mrs. Omotenioye Majekodunmi, noted that Nigeria’s journey beyond oil is not a retreat from its status as an energy powerhouse, but an evolution into a green energy giant.
“Nigeria’s journey beyond oil is not a retreat from our 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.
The launch also featured a goodwill message from the Head of the Beyond Oil and Gas Alliance Secretariat, Sian Bradley, who underscored BOGA’s commitment to supporting countries at an early stage of planning for a just, orderly and equitable transition away from oil and gas.
She commended the acknowledgement of the economic challenges and the need for bold economic diversification pathways in Nigeria’s third NDC, and highlighted the programme’s role in supporting Nigeria’s first steps towards implementation, alongside wider efforts to advance decarbonisation, and methane and upstream emissions reductions.
Through scenario analysis, transition risk assessments, evaluation of green development pathways, and structured stakeholder engagement, the programme will examine impacts across the oil and gas value chain while identifying viable economic alternatives. It will also develop targeted policy recommendations to support workers and communities affected by structural change.
Speaking on behalf of Africa Policy Research Institute (APRI) the programme’s lead implementing partner, Dr Olumide Abimbola, stated: “This initiative will help Nigeria develop a clearer, shared understanding of what a changing global energy landscape could mean for Nigeria – 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.”
On behalf of the Society for Planet and Prosperity (SPP), Prof. Chukwumerije Okereke, Director General, stated: “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.
The BOGA Fund Programme, he said, is important because it anchors the transition on rigorous evidence, economic realism, and justice for workers and communities.
“SPP is honoured to contribute to this important endeavour alongside APRI, NCCC, BOGA, and our wider community of partners, and it is our prayer that this work will help shape Nigeria’s low-carbon sustainable development and the prosperity of our country,” Okereke added.
The programme is implemented by APRI, in collaboration with SPP. The development of the BOGA Fund programme in Nigeria was led by the NCCC, which established a cross-government working group to develop the programme.
