The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that Nigeria’s total petroleum reserves stood at 37.01 billion barrels of crude oil and condensate, alongside 215.19 trillion cubic feet of natural gas as of January 1, 2026.
The figures were disclosed in an official statement issued by the Commission Chief Executive, Oritsemeyiwa Eyesan, reaffirming the country’s position as one of Africa’s leading holders of hydrocarbon resources despite evolving global energy dynamics.
According to the commission, the latest data reflects both stability and gradual shifts within the sector. Oil reserves showed a slight decline, while gas reserves recorded notable growth, signaling an increasing emphasis on gas as a transition fuel.
Providing a breakdown, the NUPRC stated that crude oil reserves stood at 31.09 billion barrels, while condensate reserves accounted for 5.92 billion barrels, bringing the total to 37.01 billion barrels. On the gas side, associated gas reserves were put at 100.21 trillion cubic feet, while non-associated gas stood at 114.98 trillion cubic feet, resulting in a combined total of 215.19 trillion cubic feet.
Eyesan noted that the commission remains focused on strengthening the upstream sector and ensuring long-term sustainability. She 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.”
The report also highlighted the expected lifespan of the country’s reserves. Based on current production levels, Nigeria’s oil reserves are projected to last for about 59 years, while gas reserves could last up to 85 years.
Despite the strong overall figures, oil reserves recorded a marginal decline of about 0.74 percent compared to the previous year. The commission attributed this drop to production activities in 2025 and updated evaluations of oil fields.
In contrast, gas reserves increased by approximately 2.21 percent, driven by new discoveries and improved reservoir assessments. This growth underscores Nigeria’s strategic shift toward gas development, in line with global trends favoring cleaner energy sources.
The NUPRC explained that the updated reserves position aligns with its regulatory responsibilities under the Petroleum Industry Act, which mandates the monitoring and management of the country’s petroleum resources.
Eyesan formally declared the figures, stating, “Consequently… I hereby declare the Total Oil and Condensate reserves of 37.01 billion barrels and Total Gas reserves of 215.19 trillion cubic feet as the official National Petroleum Reserves Position as of 1st January 2026.”
The latest data highlights Nigeria’s continued relevance in the global energy market while pointing to a gradual transition toward gas as a key driver of future growth and energy security.
