NUPRC Confirms 37 Billion Barrels of Oil and 215 TCF of Gas Reserves
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially released the National Annual Petroleum Reserves position, confirming that Nigeria remains a powerhouse in the global energy landscape. As of January 1, 2026, the nation’s total petroleum reserves stand at 37.01 billion barrels of crude oil and condensate, alongside a substantial 215.19 trillion cubic feet (TCF) of natural gas.
This declaration, announced by Commission Chief Executive Oritsemeyiwa Eyesan, underscores Nigeria’s sustained capacity in the upstream sector. Despite the complexities of global energy shifts and domestic production hurdles, these figures reinforce Nigeria’s status as a leading oil and gas holder in Africa.
A Breakdown of the Reserves
The NUPRC provided a comprehensive look at the resources currently available for exploration and production. Crude oil reserves are pegged at 31.09 billion barrels, while condensate accounts for 5.92 billion barrels. On the gas front, associated gas (AG) reserves have reached 100.21 TCF, with non-associated gas (NAG) standing at 114.98 TCF.
While oil and condensate reserves saw a marginal dip of 0.74%—attributed to 2025 production volumes and updated field data—the gas sector showed growth. Gas reserves increased by 2.21%, driven by new discoveries and more advanced reservoir evaluations. At current production levels, the Reserves Life Index suggests that Nigeria’s oil can last another 59 years, while its gas wealth extends to an 85-year lifespan.
Strategic Focus on the “Decade of Gas”
The growth in gas reserves is particularly significant as Nigeria leans into its “Decade of Gas” initiative. With gas increasingly viewed as a critical transition fuel in a decarbonizing global market, the NUPRC is prioritizing the commercialization of over 55 trillion cubic feet of previously unutilized gas.
This aligns with the broader Gas Development Roadmap, designed to spark investment across the entire value chain—from exploration and processing to transportation and export infrastructure. By leveraging these reserves, the Federal Government aims to drive industrialization, boost power generation, and diversify export revenue.
Looking Toward a 600 TCF Future
The NUPRC’s data provides the regulatory foundation for even more ambitious targets set by the Nigerian National Petroleum Company Limited (NNPCL). The NNPCL has signaled its intent to grow gas reserves from the current levels to as much as 600 trillion cubic feet. To achieve this, the company is working to attract approximately $60 billion in investments and has launched the Gas Master Plan 2026, targeting 10 billion cubic feet of daily production.
Driving Shared Prosperity
For the NUPRC, this reserve declaration is more than just a numbers game; it is about operationalizing the Petroleum Industry Act (PIA) 2021. The Commission remains committed to enhancing upstream performance and ensuring stable production to drive shared prosperity for all stakeholders. As global oil prices remain volatile, Nigeria’s vast and verified reserves provide a strategic buffer and a clear pathway for long-term energy security and economic growth.
