NUPRC records rise in Nigeria's gas output

The Nigerian Upstream Petroleum Regulatory Commission has reported that the country's hydrocarbons reserves have reached 37 billion barrels of oil and 215 trillion standard cubic feet of gas as of 1 January 2026

While gas reserves recorded an increase which can be attributed to recent major discoveries, oil output took a slight hit from production and updated field evaluations, as noted by the commission’s chief executive, Oritsemeyiwa Eyesan. Field performance and subsurface technical studies resulted to the low production levels of 2025, according to Eyesan.

The announcement, which aligned with the Petroleum Industry Act (PIA) 2021, recorded crude oil reserves at an estimated 31.09 billion barrels as condensate reserves stood at 5.92 billion barrels.

In the gas front, associated gas reserves were put at 100.21 trillion cu/ft, and non-associated gas reserves stood at 114.98 trillion cu/ft.

Noting the maximum span of the reserves in terms of current production levels, the commission indicated the reserves' life index at 59 years for oil and 85 years for gas.

Advanced reservoir studies, on the other hand, led to an increase in gas reserves by 2.21%.

“Consequently… 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,” said Eyesan, as she acknowledged the comnmision's role in emphasising upstream performance to heighten reserves growth and maintain production levels. This, she believed, was made easier because of the PIA, which allows the commission to supervise the country's petroleum resources. 

As part of the federal government's efforts to boost oil and gas investment home and abroad, President Bola Tinubu has approved a targeted fiscal incentive package to accelerate the final investment decision (FID) for the Bonga Southwest Aparo (BSWA) deepwater project.

This led to Shell executives visiting the president in Abuja even as global oil prices shoot up due to supply shocks from geopolitical tensions. The major showed much enthusiasm about further investments in Nigeria as it acknowledged the country's improved political stability, policy consistency, and leadership as primary drivers.

“We are very keen to invest in Nigeria, but I would say this has not always been the case,” said Shell’s chief executive officer, Wael Sawan.