The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the country’s proven crude oil reserves stood at 37.28 billion barrels (bb) as of 1 January 2025.

Commission Chief Executive, Mr. Gbenga Komolafe, disclosed this on Friday, adding that Nigeria’s gas reserves had reached 210.54 trillion cubic feet (tcf).

Breaking down the figures, Komolafe said crude oil reserves amounted to 31.44 bb, while condensate reserves stood at 5.84 bb, totalling 37.28 bb. This compares to 37.50 bb in 2024.

He added that associated gas reserves were 101.03 tcf, while non-associated gas reserves stood at 109.51 tcf, giving a combined gas reserve figure of 210.54 tcf—up from 209.26 tcf in 2024.

According to Komolafe, the reserve life index stands at 64 years for oil and 93 years for gas.

He reaffirmed the commission’s commitment to increasing reserves and boosting production, in line with the Petroleum Industry Act (PIA 2021) and the Regulatory Action Plan for 2024 and beyond.

“I hereby declare the total oil and condensate reserves at 37.28 billion barrels and the total gas reserves at 210.54 trillion cubic feet as Nigeria’s official national petroleum reserves as of 1 January 2025,” he said.