Nigeria’s gross official reserves dropped by $1.2 billion month-on-month (MoM) to $37.2 billion at the end of June 2025, according to the latest data from the Central Bank of Nigeria (CBN).The decline ...

Fifty-four years after signing on to OPEC’s lofty promises of collective bargaining and fair pricing, Nigeria is still ...

Nigeria's crude oil production has again exceeded the quota assigned to it by the Organisation of Petroleum Exporting ...

Nigeria’s external reserves have climbed to $40.11 billion as of July 2025, according to the Central Bank Governor, Yemi Cardoso.

Nigeria has emerged as a top buyer of US crude oil, driven by the 650,000 bpd-capacity Dangote Refinery, which has increased ...

Nigeria’s oil reserves stand at 37.28bn barrels, gas hit 210.54 tcf – NUPRC The NUPRC puts the Reserves Life Index for Nigerian oil at 64 years while that of gas is 93 years.

"For the past few years, Nigeria hasn't actually done much on exploration and that is why our reserves are not growing," Mr Lokpobiri said. The Minister for State, Petroleum Resources (Oil ...

Nigeria's crude oil and gas reserves have hit a record high of 37.24 billion barrels and 210.5 trillion cubic feet, according to the Commission Chief.

Nigeria’s state oil firm has started exploration in the onshore frontier basins, aiming to boost the OPEC producer’s proven crude oil reserves to 50 billion barrels from 37 billion barrels ...

ABUJA- The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, yesterday disclosed that Nigeria’s oil reserve grew by 0.37 percent in the past one year to hit 37.046 billion barrels from ...

According to the report, unless new oil wells are discovered, the current oil reserves of Nigeria will only last about 49 years while the gas still have over 100 years' worth in reserves.

The Minister for State, Petroleum Resources (Oil), Heineken Lokpobiri, on Thursday, said Nigeria’s oil reserves are not growing because of the lack of exploration activities in the country over ...