Nigeria’s total oil and gas reserves have risen to 37.01 billion barrels of crude oil and condensate, and 215.19 trillion cubic feet (TCF) of natural gas, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The commission’s Chief Executive, Oritsemeyiwa Eyesan, had announced the updated figures, noting that the estimates are as of January 1, 2026.
Meanwhile, the development reflects ongoing efforts to strengthen the country’s upstream sector and boost long-term energy security.
Also, a breakdown of the figures shows that crude oil reserves stand at 31.09 billion barrels, while condensate accounts for 5.92 billion barrels. For gas, associated reserves are put at 100.21 TCF, with non-associated gas at 114.98 TCF.
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While oil and condensate reserves recorded a slight decline of 0.74 per cent compared to the previous year, largely due to production activities and updated technical evaluations, gas reserves grew by 2.21 per cent.
Moreso, the increase is attributed to new discoveries and improved reservoir assessments.
The commission noted that the current reserve levels translate to a reserves life index of 59 years for oil and 85 years for gas, indicating a stable outlook for the country’s energy future.
NUPRC revealed the declaration aligns with its mandate under the Petroleum Industry Act (PIA) 2021 to drive reserve growth, ensure efficient production, and enhance investment in the sector.
The data uploaded is expected to support licensing rounds, attract investors, and guide fiscal planning as Nigeria continues to position its oil and gas industry for sustainable growth.
