By Ahmed Ahmed
The federal government has launched the Nigeria Beyond Oil and Gas Alliance Fund Programme, known as the BOGA Fund, as part of a renewed push to diversify the economy and reduce long-term exposure to oil and gas volatility.
The two-year programme was unveiled in Abuja on February 12, 2026, at an event organised by the National Council on Climate Change (NCCC). It is designed to strengthen policy coordination, improve evidence-based decision-making, and translate analytical insights into practical economic diversification strategies aligned with Nigeria’s development priorities, including its Nationally Determined Contributions.
Speaking at the launch, the Minister of Budget and Economic Planning, Abubakar Bagudu, said Nigeria must leverage its domestic assets, technology, and expertise to build a more resilient growth model. He stressed that economic diversification should be firmly rooted in climate awareness, noting that the country has an opportunity to expand growth while limiting environmental damage and creating jobs.
In her keynote address, the Director-General of the NCCC, Omotenioye Majekodunmi, described Nigeria’s transition beyond oil as an evolution rather than a retreat. She said collaboration with BOGA reinforces the country’s commitment to the 1.5°C pathway, while ensuring that development remains fair, adequately funded, and people-centred.
Head of the BOGA secretariat, Sian Bradley, reaffirmed the alliance’s support for countries at early stages of planning a just and orderly transition away from oil and gas. She welcomed Nigeria’s recognition of diversification challenges in its third NDC and said the programme would support initial implementation efforts, alongside broader work on decarbonisation and emissions reduction.
Also speaking, the Executive Director of the Africa Policy Research Institute, Olumide Abimbola, said the project would help Nigeria better understand the implications of a changing global energy landscape and identify credible diversification pathways beyond oil and gas.
Director-General of the Society for Planet and Prosperity, Chukwumerije Okereke, represented at the event by Timothy Ogenyi, noted that Nigeria’s challenge lies in managing both the risks and opportunities of the global energy transition. He said the initiative is significant because it anchors the transition in evidence, economic realism, and social justice for workers and communities.
The project is led by the NCCC and implemented by APRI, reflecting Nigeria’s commitment to domestic and international climate action efforts. With the launch of the BOGA Fund, Nigeria becomes the fifth country globally to establish the programme, joining countries such as Colombia.
