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 (TCF) of natural gas as of January 1, 2026.
The announcement, made in a statement on Wednesday by Commission Chief Executive Oritsemeyiwa Eyesan, titled “Media Release on the National Annual Petroleum Reserves Position as at 1st January 2026”.
This demonstrates the country’s sustained capacity in the upstream petroleum sector despite global energy shifts and domestic production challenges.
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.
What the NUPRC is saying
NUPRC provided a detailed breakdown of Nigeria’s oil and gas reserves, illustrating both stability and growth in the sector.
- Eyesan said, “The Nigerian Upstream Petroleum Regulatory Commission, in keeping with its mandate, is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity via the operationalisation of the Petroleum Industry Act, 2021, and implementation of the strategic pillars of the commission.”
- Crude oil reserves stand at 31.09 billion barrels, while condensate accounts for 5.92 billion barrels, totaling 37.01 billion barrels.
- Associated gas (AG) reserves reached 100.21 TCF, while non-associated gas (NAG) reserves were 114.98 TCF, bringing the total gas reserves to 215.19 TCF.
- 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% due to 2025 production and updated field performance data, while gas reserves increased by 2.21% through new discoveries and enhanced reservoir evaluations.
The data underscores the country’s sustained potential in hydrocarbons, particularly in leveraging gas as a transition fuel in a decarbonising global energy market.
For context, NUPRC recently launched a Gas Development Roadmap aimed at commercializing over 55 trillion cubic feet of unutilized gas reserves.
The initiative is designed to unlock investment across the gas value chain, including exploration, processing, transportation, and export infrastructure.
More insights
The NUPRC highlighted the regulatory and strategic context behind the reserve declaration.
- Eyesan stated that the Commission is committed to improving upstream sector performance, enhancing reserves growth, and ensuring stable production to drive shared prosperity.
- The increase in gas reserves supports the Federal Government’s “Decade of Gas” initiative, aimed at boosting industrialisation, power generation, and export diversification.
While Nigeria’s oil reserves remain a key revenue driver, the growth in gas reserves aligns with global energy trends and provides opportunities for LNG market expansion.
What you should know
Recently, the Nigerian National Petroleum Company Limited said it plans to grow Nigeria’s gas reserves from the current 210 trillion cubic feet 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.
The NNPCL earlier this year unveiled its Gas Master Plan 2026, targeting 10 billion cubic feet of daily gas production to drive industrialisation and strengthen Nigeria’s energy security.
