The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially announced Nigeria’s national petroleum reserves position as of January 1, 2025, declaring a massive 37.28 billion barrels of crude oil and condensate, alongside 210.54 trillion cubic feet (TCF) of natural gas.
This was revealed in a press statement on Friday titled “The Declaration of Annual National Petroleum Reserves Position as of 1st January 2025”, and signed by the Commission Chief Executive, Engr. Gbenga Komolafe.
According to the declaration, Nigeria’s 2P (proven and probable) crude oil reserves stand at 31.44 billion barrels, while condensate reserves are at 5.84 billion barrels. For gas, the country holds 101.03 TCF in associated gas and 109.51 TCF in non-associated gas, bringing the total gas reserves to a remarkable 210.54 TCF.
“The Reserves Life Index stands at 64 years for oil and 93 years for gas,” Komolafe said, underscoring Nigeria’s strategic energy potential and ability to maintain its influence in the global oil and gas sector for decades to come.
He emphasized that the updated figures align with the Commission’s mandate under the Petroleum Industry Act (PIA) 2021 and reaffirm NUPRC’s commitment to deepening exploration, encouraging upstream investment, and unlocking the full value of Nigeria’s vast hydrocarbon assets.
The Commission’s 2024 Regulatory Action Plan prioritizes increasing reserves, enhancing sector efficiency, and driving a sustainable rise in production — all geared toward shared national prosperity.
“This is more than just a reserves update — it is a statement of intent,” Komolafe noted. “It supports our strategic goals to boost exploration activities and deliver long-term energy security for the country.”
