Mkpoikana Udoma
Port Harcourt — Nigeria has reinforced its position as a gas investment powerhouse after declaring 215.19 trillion cubic feet, TCF, of gas reserves, a development expected to accelerate capital inflows into the country’s energy sector.
The new figures, released by the Nigerian Upstream Petroleum Regulatory Commission, also put total oil and condensate reserves at 37.01 billion barrels, highlighting the scale of Nigeria’s hydrocarbon base.
Announcing the update, the Commission Chief Executive, Oritsemeyiwa Eyesan, emphasized that the reserves growth reflects deliberate policy and technical efforts to unlock value.
“The Commission is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity,” she said.
Eyesan formally declared: “I hereby declare the total oil and condensate reserves of 37.01 billion barrels and total gas reserves of 215.19 trillion cubic feet as the official national petroleum reserves position as of 1st January 2026.”
The standout figure is the gas reserves increase of 2.21 percent, driven by fresh discoveries and improved subsurface evaluations, an indicator of rising upstream activity and exploration success.
“The reason for the increase is largely because reserves update is based on discoveries and the result of robust reservoir studies,” she noted.
While oil reserves dipped slightly by 0.74 percent due to production and technical revisions, the country’s long-term outlook remains robust, with a reserves life index of 85 years for gas and 59 years for oil.
The expanding gas base, SweetCrude Reports noted, strengthens Nigeria’s attractiveness to investors, particularly as reforms under the Petroleum Industry Act continue to reshape the upstream landscape.
The latest data is expected to bolster Nigeria’s push for large-scale gas investments, positioning the country as a key supplier in both regional and global energy markets.
