The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has released the nation’s official petroleum reserves data for 2026, reporting a marginal decline in liquid hydrocarbon holdings alongside measurable growth in natural gas volumes. The updated figures reflect Nigeria’s evolving resource composition amid sustained production and targeted upstream exploration.
As of January 1, 2026, Nigeria’s combined crude oil and condensate reserves stood at 37.01 billion barrels, reflecting a 0.74 per cent decrease from the previous year. Crude oil accounts for 31.09 billion barrels of this total, while condensate reserves remain at 5.92 billion barrels. In contrast, total gas reserves reached 215.19 trillion cubic feet, marking a 2.21 per cent increase. This gas volume includes 100.21 trillion cubic feet of associated gas and 114.98 trillion cubic feet of non-associated gas. Based on current extraction rates, the commission projects a reserves life index of 59 years for oil and 85 years for gas.
Commission Chief Executive Oritsemeyiwa Eyesan attributed the slight reduction in liquid hydrocarbons to sustained production activities and technical reevaluations of existing fields. The expansion in natural gas holdings, she noted, resulted from verified new discoveries and comprehensive subsurface assessments. Eyesan emphasized that the regulator’s reporting framework operates under the Petroleum Industry Act of 2021, which is designed to strengthen upstream sector performance and maintain stable hydrocarbon output through improved data management and transparent licensing processes.
The revised reserve totals align with Nigeria’s broader energy policy objectives, particularly the federal government’s Decade of Gas initiative. By prioritizing natural gas development, the country aims to support domestic industrial growth while integrating into global markets seeking lower-emission energy sources. The data confirms Nigeria’s standing as one of Africa’s primary crude oil holders and reinforces its classification among the largest gas-rich nations worldwide.
Regulatory authorities will continue to publish annual reserve assessments to guide national energy planning and monitor extraction sustainability. The 2026 data will inform fiscal projections and sector strategies as operators evaluate drilling programs, optimize reservoir management, and allocate capital across existing and prospective basins.
