Nigeria’s oil reserves are projected to last for 64 more years, with 37.28 billion barrels of oil, including 31.44 billion barrels of proven and probable crude and 5.84 billion barrels of condensate.

Meanwhile, the country’s gas reserves, totaling 210.54 trillion cubic feet (TCF), are expected to last for 93 years.

This includes 101.03 TCF of associated gas and 109.51 TCF of non-associated gas.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) emphasized its commitment to improving sector efficiency and sustainability in line with its 2024 Regulatory Action Plan.