Nigeria’s oil reserves recorded a marginal decline in 2026, while gas resources expanded, reflecting a gradual shift in the country’s hydrocarbon profile amid sustained production and discoveries.
The Nigerian Upstream Petroleum Regulatory Commission disclosed this on Wednesday in Abuja, releasing the nation’s official petroleum reserves position as of January 1, 2026.
In a statement signed by its Chief Executive, Oritsemeyiwa Eyesan, the commission said Nigeria’s total oil and condensate reserves stood at 37.01 billion barrels, while total gas reserves rose to 215.19 trillion cubic feet.
Titled “Media Release on the National Annual Petroleum Reserves Position as at 1st January 2026,” the statement highlighted the commission’s commitment to strengthening upstream performance and ensuring long-term resource sustainability.
Eyesan said, “The Nigerian Upstream Petroleum Regulatory Commission, in keeping with its mandate, is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity via the operationalisation of the Petroleum Industry Act, 2021, and implementation of the strategic pillars of the Commission.”
