The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared that the country’s total oil and condensate reserves stand at 37.01 billion barrels as of January 1, 2026, with a reserve life index of 59 years.
This means that at the current production level, the oil reserves is expected to last for 59 years.
In a statement released on Wednesday, April 1, the NUPRC Chief Executive, Oritsemeyiwa Eyesan, stated that the 37.01 billion barrels comprise 31.09 billion barrels of crude oil and 5.92 billion barrels of condensate.
Eyesan also revealed that the country’s proven and probable (2P) Associated Gas (AG) and Non-Associated Gas (NAG) reserves stand at 100.21 trillion Cubic Feet (TCF) and 114.98 TCF, respectively, resulting in total Gas reserves of 215.19 TCF.
She also revealed that gas reserves could last for 85 years at current output.
“The Reserves Life Index is 59 Years and 85 Years for Oil and Gas, respectively,” she added.
The NUPRC chief executive clarified that the new figure as of January 1, 2026, reflects a marginal 0.74 per cent decline in crude oil and condensate reserves compared to the previous year, primarily due to 2025 production volumes and updated technical evaluations.
In contrast, the nation’s gas reserves grew by 2.21 per cent to 215.19 TCF, driven by discoveries and robust reservoir studies.
“The reason for the slight change in 1.1.2026 oil and condensate reserves by 0.74% is attributable to production in 2025 and reserves update due to field performance and technical evaluation based on subsurface studies.
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“The reason for the increase in 1.1.2026 AG and NAG reserves by 2.21% is largely because the reserves update is based on discoveries and the result of robust reservoir studies,” she stated.
The reserves life index of 59 years for oil and 85 years for gas indicates how long the current proven reserves would last if production were to continue at existing rates, signaling a significant resource base for the country.
Why These Numbers Matter
In an era of global decarbonization, the NUPRC’s data serves as a roadmap for investors and the Nigerian government.
The NUPRC affirmed its commitment to the Petroleum Industry Act (PIA), aiming to boost oil exploration and ensure that every barrel extracted contributes to a sustainable future.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in Mass Communication. He can be reached via @VICTOREZEJA on X
