The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reaffirmed its commitment to improving the upstream oil and gas sector’s efficiency and growth. As of January 1, 2025, Nigeria’s crude oil reserves are at 37.28 billion barrels, while gas reserves stand at 210.54 trillion cubic feet. This is slightly lower than the 2024 figures of 37.50 billion barrels of oil and 209.26 tcf of gas.
As of January 1, 2025, Nigeria’s oil reserves total 37.28 billion barrels, with crude oil at 31.44 billion barrels and condensate at 5.84 billion barrels.
Gas reserves stand at 210.54 trillion cubic feet, with 101.03 tcf of associated gas and 109.51 tcf of non-associated gas. NUPRC, in line with the Petroleum Industry Act (PIA 2021), is focused on improving sector efficiency and ensuring sustainable production growth.
The Reserves Life Index stands at 64 years for oil and 93 years for gas.In line with the powers vested in me under Chapter 1, Part III, Section 7 of the Petroleum Industry Act (PIA), I, Engr. Gbenga Komolafe, CCE, officially declare Nigeria’s total oil and condensate reserves at 37.28 billion barrels, and total gas reserves at 210.54 trillion cubic feet, as the National Petroleum Reserves Position as of January 1, 2025.
