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, he 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 Netherlands as an example of how a small landmass can generate agricultural exports far exceeding Nigeria’s peak oil earnings through 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 fishing communities, for instance, could be supported to meet global standards and supply international seafood markets, while farmers could be equipped with improved seedlings and climate-resilient practices.