The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially announced that Nigeria’s crude oil and condensate reserves have reached a total of 37.28 billion barrels, with gas reserves standing at 210.54 trillion cubic feet (TCF).
This announcement was made in a statement released on Friday, April 11, 2025, by the Commission Chief Executive, Engr. Gbenga Komolafe, titled ‘Declaration of Annual National Petroleum Reserves Position as of 1st January 2025’.
According to Komolafe, the latest figures show that Nigeria has 31.44 billion barrels of crude oil and 5.84 billion barrels of condensate. For gas, the associated gas reserves are 101.03 TCF while non-associated gas reserves stand at 109.51 TCF, making a total of 210.54 TCF.
He explained that this declaration aligns with the Commission’s responsibilities under the Petroleum Industry Act 2021, and stressed that it reflects the government’s ongoing commitment to boosting oil and gas production in the country.
“These figures are not just numbers. They show that Nigeria’s oil reserve can last for 64 years and our gas reserve for 93 years, based on current production levels,” Komolafe said.
He also said the announcement marks a major step in the Commission’s 2024 Action Plan, which focuses on increasing exploration, improving upstream investment, and using Nigeria’s energy resources more effectively.
Komolafe stated that the Commission is working hard to improve the upstream oil and gas sector and push for growth in reserves and production. He promised that Nigeria will continue to play a strong role in the global energy market.
The NUPRC boss concluded by saying, “I, Engr. Gbenga Olu Komolafe, hereby declare the total oil and condensate reserves of 37.28 billion barrels and total gas reserves of 210.54 TCF as Nigeria’s official petroleum reserves as of January 1, 2025.”
