The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared the country’s petroleum reserves as of January 1, 2025, revealing a substantial 37.28 billion barrels of crude oil and condensate, alongside an impressive 210.54 trillion cubic feet (TCF) of natural gas.
This announcement was made in a press release titled “The Declaration of Annual National Petroleum Reserves Position as of 1st January 2025”, signed by the Commission Chief Executive, Engr. Gbenga Komolafe.
According to the release, Nigeria’s proven (2P) reserves consist of 31.44 billion barrels of crude oil and 5.84 billion barrels of condensate. In the gas sector, associated gas reserves are estimated at 101.03 TCF, while non-associated gas reserves stand at 109.51 TCF, bringing the total to a record-breaking 210.54 TCF.
Engr. Komolafe emphasized that this monumental declaration marks a pivotal point for Nigeria’s energy landscape and economic trajectory. He stated that the update aligns with the Commission’s statutory responsibility under the Petroleum Industry Act (PIA) 2021, and reflects the NUPRC’s continued commitment to expanding the nation’s hydrocarbon base.
He further noted that the figures represent more than just a statistical milestone—they reaffirm the Commission’s Regulatory Action Plan for 2024, which prioritizes intensified exploration efforts, increased upstream investment, and the unlocking of value across Nigeria’s vast energy reserves.
The statement concluded by highlighting the Commission’s strategic focus on improving operational efficiency, growing the country’s reserves base, and driving sustainable production growth to ensure long-term economic prosperity.
