Nigeria’s crude oil reserves are expected to last for another 64 years, while its gas reserves could sustain the country for 93 years, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
In a statement released in Abuja on Friday and signed by the commission’s Chief Executive, Gbenga Komolafe, the NUPRC disclosed that as of January 1, 2025, the country’s proven (2P) crude oil and condensate reserves stand at 31.44 billion barrels and 5.84 billion barrels respectively—totalling 37.28 billion barrels.
In addition, Nigeria’s associated and non-associated gas reserves have reached 210.54 trillion cubic feet (TCF).
Komolafe emphasized the commission’s commitment to increasing reserves and ramping up production, in line with the goals of the Petroleum Industry Act (PIA) of 2021.
“The Reserves Life Index is 64 years for oil and 93 years for gas,” he stated.
