By Seun Ibiyemi
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared the nation’s oil, condensate, and gas reserves as of January 1, 2026.
The NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, revealed on Wednesday that crude oil and condensate reserves now stand at 31.09 billion barrels and 5.92 billion barrels, respectively, bringing total oil and condensate reserves to 37.01 billion barrels.
Gas reserves, meanwhile, are equally robust. Associated Gas (AG) reserves total 100.21 trillion cubic feet (TCF), while Non-Associated Gas (NAG) reserves amount to 114.98 TCF, giving a combined 215.19 TCF.
The Reserves Life Index, a measure of how long reserves can sustain current production is 59 years for oil and 85 years for gas.
Mrs. Eyesan attributed the slight decrease in oil and condensate reserves by 0.74 per cent to production in 2025 and adjustments based on technical evaluations and field performance.
Conversely, gas reserves increased by 2.21 per cent due to new discoveries and improved reservoir studies.
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“The Commission is committed to enhancing upstream sector performance, growing oil and gas reserves, and ensuring stable production for shared prosperity,” Mrs. Eyesan said, noting that these objectives are being advanced through the Petroleum Industry Act, 2021, and strategic initiatives of the NUPRC.
The declaration reinforces Nigeria’s position as a major player in the global oil and gas market, with a strong reserves base to support long-term energy planning and investment.
