The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that Nigeria’s crude oil and condensate reserves declined to 37.01 billion barrels as of January 1, 2026.
This marks a drop from the 37.28 billion barrels recorded in 2025.
In a statement issued on Wednesday by Oritsemeyiwa Eyesan, the commission’s chief executive officer said total gas reserves, however, increased to 215.19 trillion cubic feet (tcf), up from 210.54 tcf.
“Total Oil and Condensate reserves of 37.01 Billion Barrels and Total Gas reserves of 215.19 Trillion Cubic Feet as the official National Petroleum Reserves Position as of 1st January 2026,” she said.
Eyesan noted that the commission remains committed to strengthening upstream sector performance and growing the nation’s oil and gas reserves.
According to her, 2P crude oil reserves stand at 31.09 billion barrels, while condensate reserves are estimated at 5.92 billion barrels, bringing the combined total to 37.01 billion barrels.
She added, “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.
“The Reserves Life Index is 59 Years and 85 Years for Oil and Gas, respectively.”
Explaining the decline in oil reserves, Eyesan said, “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.”
On the increase in gas reserves, she stated, “The reason for the increase in 1.1.2026 AG and NAG reserves by 2.21 percent is largely because reserves update is based on discoveries and the result of robust reservoir studies.”
She reaffirmed the figures as the country’s official petroleum reserves position as of January 1, 2026.