The 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 operationalisation of the Petroleum Industry Act, 2021 (PIA), and implementation of the strategic pillars of the Commission.
In view of this, I am pleased to present to you an overview of the Nation’s oil, condensate, associated gas, and non-associated gas reserves as of January 1 st, 2026, as follows: Consequently, and in furtherance of the provisions of Chapter 1, Part III, Section 7 (g), (i), (j), (k), (m), (q), (r) and other powers enabling me in this respect, I, Mrs.
Oritsemeyiwa Eyesan, Commission Chief Executive, 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 1 st January 2026.