Nigeria’s Natural Gas Reserves Hit Historic High of 210.54 Trillion Cubic Feet
Crude Oil and Condensate Reserves Now Stand at 37.28 Billion Barrels as NUPRC Affirms National Petroleum Position for 2025

Abuja, Nigeria — April 11, 2025 — In a significant development that underscores Nigeria’s growing status as a key global energy player, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the country’s total gas reserves have risen to a record 210.54 trillion cubic feet (TCF). This figure represents an increase from the 209.26 TCF recorded as of January 1, 2024, reinforcing a steady upward trajectory in Nigeria’s gas resource base.

The announcement was made by the Commission Chief Executive, Engr. Gbenga Olu Komolafe, in an official statement released on Friday. He also disclosed that the nation’s crude oil and condensate reserves have reached a cumulative total of 37.28 billion barrels, with crude oil reserves accounting for 31.44 billion barrels and condensates contributing 5.84 billion barrels.

This development comes amid Nigeria’s sustained efforts to reposition its energy sector for global competitiveness, following the enactment of the Petroleum Industry Act (PIA) of 2021 — a landmark regulatory framework designed to promote transparency, attract investment, and ensure long-term sustainability across the petroleum value chain.

“The Commission, in keeping with its mandate as enshrined in the Petroleum Industry Act, 2021 (PIA), is committed to driving the efficiency and effectiveness of the upstream oil and gas sector,” Komolafe stated. “We are focused on enhancing the growth of oil and gas reserves and ensuring a sustainable increase in production that will deliver shared prosperity for all Nigerians.”

Breakdown of Nigeria’s Reserves

According to the NUPRC’s latest figures, the current reserve levels are as follows:

• Crude Oil Reserves: 31.44 billion barrels

• Condensate Reserves: 5.84 billion barrels

• Total Crude Oil and Condensate: 37.28 billion barrels

• Associated Gas Reserves: 101.03 TCF

• Non-Associated Gas Reserves: 109.51 TCF

• Total Gas Reserves: 210.54 TCF

These figures position Nigeria among the top holders of natural gas reserves in the world, with vast untapped potential that could serve as a key driver for energy security, industrialization, and economic diversification in the years ahead.

Strategic Significance of the Update

Nigeria’s rising gas reserve base is particularly significant in light of the global energy transition. As countries gradually shift from high-carbon energy sources toward cleaner fuels, natural gas is increasingly viewed as a bridging energy resource — one that offers relatively lower carbon emissions compared to coal and oil, while ensuring the reliability and scalability needed to power industries and households.

Komolafe emphasized the importance of gas to Nigeria’s long-term energy roadmap, especially through initiatives such as the Decade of Gas initiative launched by the Federal Government. The program aims to transform Nigeria into a gas-powered economy by maximizing domestic utilization, expanding export capacity, and creating job opportunities along the gas value chain.

“Our gas reserves are a national asset of strategic importance. With the right investments and policy consistency, Nigeria can become a major supplier of gas to both domestic and international markets,” Komolafe said.

Reserves Life Index Reflects Long-Term Viability

The Commission also highlighted the Reserves Life Index (RLI), an indicator that estimates how long existing reserves would last at the current production rate. According to Komolafe, Nigeria’s RLI currently stands at:

• 64 years for oil

• 93 years for gas

These figures, he said, provide assurance of the nation’s long-term hydrocarbon viability and underscore the need for strategic planning in maximizing resource value over the next several decades.

Industry Reactions and Implications

The new reserves figures have been received positively across Nigeria’s energy sector, with industry stakeholders noting that they reflect increasing investment in exploration and development, particularly in offshore fields. Analysts believe that improved regulatory clarity under the PIA has begun to yield results by encouraging companies to expand their exploration footprint.

However, challenges still remain. Issues such as pipeline vandalism, crude oil theft, and operational inefficiencies continue to hamper production levels, which have yet to reach the full potential suggested by the country’s vast reserves.

Komolafe reassured stakeholders that the Commission is taking deliberate steps to address these bottlenecks through its Regulatory Action Plan (RAP) for 2024 and beyond. This includes incentives for gas infrastructure development, improved licensing regimes, and closer collaboration with security agencies to protect oil and gas installations.

Looking Ahead

As Nigeria continues to unlock more value from its hydrocarbon resources, the role of gas is expected to become even more central to the country’s development strategy. With ambitious plans to boost liquefied natural gas (LNG) exports, attract downstream investments, and expand gas-to-power projects, the government and its regulatory agencies are working to build a more resilient and globally competitive energy sector.

In closing, Engr. Komolafe declared:

“I, Engr. Gbenga Olu Komolafe, Commission Chief Executive, hereby declare the total oil and condensate reserves of 37.28 billion barrels and total gas reserves of 210.54 trillion cubic feet as the official National Petroleum Reserves Position as of 1st January, 2025.”

This proclamation not only reaffirms Nigeria’s place among the top energy resource nations globally but also sends a strong signal to investors, development partners, and energy stakeholders that Nigeria remains open for business and ready to play a pivotal role in shaping the future of global energy.