THUR APRIL 02 2026-theGBJournal| Nigeria’s hydrocarbon wealth remains robust, with latest official figures placing total crude oil and condensate reserves at 37.01 billion barrels and natural gas reserves at 215.19 trillion cubic feet as of January 1, 2026.
The reserves Life Index is put at 59 years for oil and gas, respectively.
This disclosure, was presented by the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) Chief Executive, Mrs. Oritsemeyiwa Eyesan on Wednesday, and it provides a comprehensive snapshot of the nation’s oil, condensate, associated gas, and non-associated gas assets.
The latest national reserves position underscores the country’s enduring status as a major energy player, even as global markets shift toward cleaner energy sources.
It reflects ongoing efforts to sustain reserve growth through improved upstream investments, enhanced recovery techniques, and regulatory reforms aimed at boosting exploration activities.
Despite persistent challenges in production and investment flows, the updated reserves data signals underlying strength in Nigeria’s resource base.
It also reinforces the strategic importance of gas development as a transition fuel, positioning the country to capitalize on rising global demand while supporting domestic industrialization and energy security objectives.
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