Nigeria’s oil and gas reserves stood at 37.01 billion barrels of oil and condensate, and 215.19 trillion cubic feet of gas as of January 1, 2026, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Commission said oil reserves dropped slightly compared to last year, mainly due to production activities and updated field data.
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However, gas reserves increased from 210.54 to 215.19 trillion cubic feet, thanks to new discoveries and better evaluations.
The breakdown shows crude oil reserves at 31.09 billion barrels and condensates at 5.92 billion barrels. For gas, associated reserves stood at 100.21 trillion cubic feet, while non-associated gas was 114.98 trillion cubic feet.
NUPRC also said Nigeria’s reserves could last about 59 years for oil and 85 years for gas at current production levels.
The Commission added that it is working to grow reserves and improve production through the Petroleum Industry Act 2021, which aims to boost transparency, attract investment, and strengthen the oil and gas sector.
The government is also trying to increase oil output and meet Organization of the Petroleum Exporting Countries (OPEC) targets despite challenges like oil theft.