Abuja: Nigeria has 31.09 billion barrels of crude oil and 5.92 billion barrels of condensate, totalling 37.01 billion barrels, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reports.
The NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed this on Wednesday while presenting an overview of the nation’s oil, condensate, associated gas and non-associated gas reserves as of Jan. 1, 2026.
Eyesan said the Associated Gas (AG), which is gas found in association with oil, and Non-Associated Gas (NAG), which exists separately from oil, reserves stood at 100.21 Trillion Cubic Feet (TCF, a measure of gas volume) and 114.98 TCF, respectively, resulting in total gas reserves of 215.19 TCF.
“The Reserves Life Index is 59 years and 85 years for oil and gas, respectively.
“The reason for the slight change in 1.1.2026 oil and condensate reserves by 0.74 per cent is attributable to production in 2025 and reserves update due to field performance and technical evaluation based on subsurface studies.
“The reason for the increase in 1.1.2026 AG and NAG reserves by 2.21 per cent is largely because the reserves update is based on discoveries and the result of robust reservoir studies.
“I, Mrs Oritsemeyiwa Eyesan, Commission Chief Executive, hereby declare the total oil and condensate reserves of 37.01 billion barrels and total gas reserves of 215.19 as the official National Petroleum Reserves Position as of Jan. 1, 2026,” she said.
She said the commission remained committed to growing upstream performance, increasing reserves, and ensuring stable production.
This, she said, was achieved through the operationalisation of the Petroleum Industry Act, 2021, and the implementation of the commission’s strategic pillars.
