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Nigeria to Harness 37.5bn Barrels of Oil, 209tcf of Gas for Industrial Growth and Decarbonisation

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to leverage the nation’s vast resources—37.5 billion barrels of oil and 209 trillion cubic feet of gas—while pursuing decarbonisation for long-term sustainability.

NUPRC CEO Gbenga Komolafe emphasized the importance of gas as a transitional fuel and outlined ongoing efforts like the National Gas Policy and Decade of Gas Initiative.

The sector, responsible for 90% of Nigeria’s foreign exchange earnings, is set to drive industrialisation, expand energy access, and solidify Nigeria’s role as a global energy leader.