The Federal Government has launched the Nigeria Beyond Oil and Gas Alliance (BOGA) Fund Programme, a two-year initiative aimed at accelerating economic diversification and strengthening long-term resilience beyond the oil and gas sector.

The initiative is designed to assess risks and opportunities in Nigeria’s evolving energy landscape and to develop policy options that support structural economic transformation and climate priorities.

Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, while speaking at the launch, in Abuja, 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 on 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.

“Nigeria must place greater value on its unique strengths while harnessing the right technologies and skills to drive sustainable growth.

“Nigeria can grow its economy in ways that reduce environmental impact, strengthen resilience and create opportunities for its people,” Bagudu said.

In her remarks, the Director-General, National Council on Climate Change (NCCC), Omotenioye Majekodunmi, said Nigeria’s transition beyond oil should be viewed as an evolution rather than a withdrawal from its energy leadership.

“Nigeria’s journey beyond oil is not a retreat from our status as an energy powerhouse, but an evolution into a green energy giant,” Majekodunmi said.

She said the collaboration with BOGA reflects Nigeria’s commitment to climate targets and a development path focused on fairness, funding and prosperity.

Also speaking, Head of the BOGA Secretariat, Sian Bradley, said the alliance is committed to supporting countries in planning a just and orderly transition away from oil and gas.

According to him, the program would support Nigeria’s first steps toward implementation of bold economic diversification pathways while advancing decarbonisation and emissions reduction.

On his part, the Executive Director of Africa Policy Research Institute (APRI), Olumide Abimbola, said the initiative would help Nigeria better understand the implications of global energy changes for revenues, jobs and industries.

“This initiative will help Nigeria develop a clearer understanding of what a changing global energy landscape could mean for our economy and what practical options are available to strengthen resilience,” Abimbola said.

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria over its alleged failure to account for N3 trillion in public funds, including more than N629 billion paid to “unknown beneficiaries” under the Anchor Borrowers’ Programme.

The lawsuit, according to a statement signed by SERAP Deputy Director, Kolawole Oluwadare, yesterday, follows allegations detailed in the latest annual report by the Auditor-General of the Federation, published on September 9, 2025.

Filed last week at the Federal High Court in Abuja, SERAP is seeking “an order of mandamus to direct and compel the CBN to account for and explain the whereabouts of the missing or diverted N3 trillion, including detailed reports of how the funds were spent.”

The suit, number FHC/ABJ/CS/250/2026, filed on behalf of SERAP by lawyers Oluwakemi Agunbiade and Valentina Adegoke, read in part: “According to the Auditor-General, the CBN in 2022 failed to remit over N1 trillion [N1,445,593,400,000.00] of ‘the Federal Government’s portion of operating surplus’ into the Consolidated Revenue Fund (CRF) account.

“The Auditor-General fears that the money may have been ‘diverted.’ He wants the money recovered and remitted to the treasury.

“The CBN also failed to recover over N629 billion [N629,040,000,000.00] paid to ‘unknown beneficiaries’ as part of the Anchor Borrowers’ Programme, a programme ‘meant to support farmers to ensure sustainable food production in the country.’

“But ‘the numbers of beneficiaries who collected the money are unknown.’ The CBN has also failed to ‘recover the money.’ The Auditor-General fears ‘the money may have been diverted’, which could have ‘contributed to the difficulty in sustaining food security in the nation.”

SERAP further alleged questionable expenditures by the CBN, including N125 billion on intervention activities allegedly lacking National Assembly approval, N1.79 billion spent to buy 43 vehicles for the Nigeria Immigration Service (NIS) without procurement records, and over N189 billion awarded in contracts with irregular variations of over N9 billion.

Additionally, the Katsina branch of the CBN reportedly failed to recover over N90 million in outstanding loans to small and medium enterprises disbursed during the COVID-19 pandemic.

The organisation cited Paragraph 3112(ii) of the Financial Regulations 2009, which mandates surcharges and criminal referral for officers who fail to account for government revenue, and Section 51 of the Fiscal Responsibility Act, which empowers citizens to enforce compliance through the Federal High Court.

It argued that “these grim allegations by the Auditor-General suggest grave violations of public trust, the Nigerian Constitution 1999 [as amended], the CBN Act, and anticorruption standards.”

The group added that “these violations reflect a broader failure of CBN accountability and are linked to the institution’s persistent non-compliance with its Act and the principles of transparency and accountability.”

SERAP said the lack of transparency has undermined the bank’s ability to discharge its statutory functions and eroded public trust.

“Nigerians have the right to know the whereabouts of the missing or diverted funds. Granting the reliefs sought would advance the right to restitution, compensation, and guarantee non-repetition,” it stated.

The suit highlighted that Section 15(5) of the Constitution obliges public institutions to eliminate corrupt practices and abuse of power, while Section 13 mandates the CBN to uphold the provisions of Chapter 2 of the Constitution.

No hearing date has been fixed for the suit.

Adamawa State Government has concluded arrangements to receive President Bola Tinubu for a one-day official visit to the State today.

The State Commissioner for Information and Strategy, Mr James Iliya, who disclosed this in Yola, yesterday, said the visit was a clear validation of the developmental strides recorded under the administration of Gov. Ahmadu Fintiri.

He said that Tinubu’s visit would mark the inauguration of several infrastructural projects executed by the Fintiri-led administration.

Iliya added that the visit reflected national recognition of the state government’s commitment to improving the living standards of citizens through strategic investments across critical sectors.

He listed some of the projects to be inaugurated, including the newly constructed underpass at the former Bekaji Roundabout, the expanded Bank Road in Yola, and a model school in Yola North Local Government Area.

The commissioner explained that the model school represented one of the 21 newly built model schools across the state.

“The president is also expected to perform the groundbreaking ceremony for a new NYSC permanent orientation camp in Malkohi, and commission the ultra-modern High Court Complex.

“He will also unveil the automated gate at Government House and inaugurate the newly constructed Governor’s Office complex.

“These projects span key sectors including education, infrastructure, justice administration, governance, security, healthcare, and human capital development,” he said.

Iliya called on the residents of Adamawa to remain law-abiding and conduct themselves peacefully during the president’s visit.

He urged citizens, irrespective of political affiliations, to turn out en masse to warmly welcome Tinubu and demonstrate the state’s hospitality and unity.

The Tide learnt that the Adamawa State Police Command had beefed up security ahead of the president’s visit.

A statement issued to newsmen by the command said it had deployed its manpower and operational assets across the state following a strategic meeting with security commanders.

The Commissioner of Police, Morris Dankombo, ordered the deployment of operational assets, including the Police Mobile Force, Counter-Terrorism Unit, Surveillance Squad, and Crowd/Traffic Control Unit, among others.

The teams are expected to carry out covert surveillance operations throughout the State.