The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported that Nigeria’s total petroleum reserves stood at 37.01 billion barrels of crude oil and condensate, plus 215.19 trillion cubic feet (TCF) of natural gas, as of January 1, 2026. Chief Executive Oritsemeyiwa Eyesan shared this in a media release, underscoring the sector’s resilience amid global energy transitions and local challenges.
Nigeria remains Africa’s top oil and gas holder, with gas gaining prominence in energy shift strategies.
Key Reserve Breakdown
- Oil and Condensate: 31.09 billion barrels crude oil; 5.92 billion barrels condensate (total 37.01 billion, down 0.74% from production and field updates).
- Gas: 100.21 TCF associated gas; 114.98 TCF non-associated gas (total 215.19 TCF, up 2.21% from new finds and evaluations).
- Reserves Life: Oil lasts 59 years; gas 85 years at current rates.
Eyesan emphasized NUPRC’s focus on boosting upstream performance, reserve expansion, and steady output under the 2021 Petroleum Industry Act.
Strategic Context
Gas growth bolsters the “Decade of Gas” push for industrialization, power, and exports. It ties into NUPRC’s recent Gas Development Roadmap for 55+ TCF commercialization and $4.9 billion investments.
NNPCL aims to triple gas reserves to 600 TCF with $60 billion funding, via its Gas Master Plan 2026 targeting 10 billion cubic feet daily production for energy security.
