Abuja, Nigeria – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared the nation’s total petroleum reserves at 37.01 billion barrels of crude oil and condensate, alongside 215.19 trillion cubic feet of natural gas as of January 1, 2026.
Okay News reports that the announcement, made in a statement on Wednesday by Commission Chief Executive Oritsemeyiwa Eyesan, demonstrates the country’s sustained capacity in the upstream petroleum sector despite global energy shifts and domestic production challenges.
Crude oil reserves stand at 31.09 billion barrels, while condensate accounts for 5.92 billion barrels, totaling 37.01 billion barrels. Associated gas reserves reached 100.21 trillion cubic feet, while non-associated gas reserves were 114.98 trillion cubic feet, bringing the total gas reserves to 215.19 trillion cubic feet.
The Reserves Life Index estimates that current oil reserves can last 59 years, while gas reserves have an 85-year lifespan at prevailing production levels. Oil and condensate reserves fell marginally by 0.74 percent due to 2025 production and updated field performance data, while gas reserves increased by 2.21 percent through new discoveries and enhanced reservoir evaluations.
The latest figures reflect Nigeria’s position as a leading oil and gas holder in Africa, while highlighting the growing strategic importance of gas in the country’s energy transition plans. The increase in gas reserves supports the Federal Government’s Decade of Gas initiative, aimed at boosting industrialisation, power generation, and export diversification.
Eyesan stated that the Commission is committed to improving upstream sector performance, enhancing reserves growth, and ensuring stable production to drive shared prosperity via the operationalisation of the Petroleum Industry Act, 2021.
Recently, the Nigerian National Petroleum Company Limited said it plans to grow Nigeria’s gas reserves from the current level to about 600 trillion cubic feet. The NNPCL also noted that it is working on its mandate to attract about $60 billion in investments into the gas sector.
This petroleum reserves declaration underscores Nigeria’s sustained potential in hydrocarbons, particularly in leveraging gas as a transition fuel in a decarbonising global energy market.
 has officially declared the nation's total petroleum reserves at 37.01 billion barrels of crude oil and condensate, alongside 215.19 trillion cubic feet of natural gas as of January 1, 2026.){kind=link}