Nigeria’s Gas Reserves Climb to 215 Trillion Cubic Feet as Crude Oil Levels Face Marginal Decline

NUPRC reports Nigeria's 2026 petroleum reserves, showing a 2.21% rise in gas resources to 215.19TCF and a marginal 0.74% decline in crude oil levels.

By: AXL Media

Published: Apr 1, 2026, 10:34 AM EDT

Source: The information in this article was sourced from Punch Nigeria

Official Certification of National Hydrocarbon Wealth

The Nigerian Upstream Petroleum Regulatory Commission has released the definitive standing of the country’s oil and gas reserves as of January 1, 2026. According to Chief Executive Oritsemeyiwa Eyesan, total oil and condensate reserves are now officially pegged at 37.01 billion barrels, while gas resources have seen a notable expansion to 215.19 trillion cubic feet. This disclosure, made in Abuja, serves as a critical benchmark for the nation’s energy sector under the operational framework of the Petroleum Industry Act of 2021. The commission maintains that these figures reflect a commitment to transparency and the strategic pillars aimed at enhancing upstream performance for shared national prosperity.

A Pivot Toward Natural Gas Expansion

The data reveals a clear divergence between the trajectories of liquid and gaseous hydrocarbons in the Nigerian subsurface. While crude volumes experienced a marginal contraction, gas reserves grew by 2.21% on the back of fresh discoveries and more sophisticated reservoir modeling. According to NUPRC officials, the increase is largely attributed to robust technical evaluations and successful exploration activities conducted throughout the previous year. This growth reinforces Nigeria’s status as a global gas powerhouse and aligns with the federal government’s long term initiative to transition the economy toward cleaner, gas driven energy solutions.

Production Pressures and Crude Reserve Resilience

The slight 0.74% decline in oil and condensate reserves, falling from approximately 37.3 billion barrels in 2025, is primarily the result of active extraction throughout the preceding twelve months. Eyesan noted that while production naturally depletes known volumes, the commission is utilizing field performance data and subsurface studies to update technical evaluations. Despite this minor dip, Nigeria’s oil reserves life index remains substantial at 59 years, suggesting that the nation holds a secure position among Africa’s top crude holders for several decades to come at current production levels.