Oil reserves in Nigeria
Nigeria: Oil reserves was 5.87 billion cubic meters in 2021. ▲ Rising
Oil reserves in Nigeria, 1980–2021
Source: U.S. Energy Information Administration (2022) – with major processing by Our World in Data. Measured in cubic meters.
Analysis
The most recent figure for oil reserves in Nigeria is 5.87 billion cubic meters, measured in 2021.
Compared with earlier readings it is down 0.2% on the previous year and down 0.8% over ten years.
Over the whole period, oil reserves in Nigeria peaked at 5.95 billion cubic meters in 2018 and was at its lowest, 2.47 billion cubic meters, in 1997.
Nigeria ranks 12th of 216 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 42 years of available data.
Oil reserves in Nigeria, year by year
| Year | cubic meters | Change |
|---|---|---|
| 1980 | 2.77 billion cubic meters | — |
| 1981 | 2.66 billion cubic meters | -4.0% |
| 1982 | 2.62 billion cubic meters | -1.2% |
| 1983 | 2.66 billion cubic meters | +1.5% |
| 1984 | 2.63 billion cubic meters | -1.2% |
| 1985 | 2.65 billion cubic meters | +0.6% |
| 1986 | 2.64 billion cubic meters | -0.3% |
| 1987 | 2.54 billion cubic meters | -3.6% |
| 1988 | 2.54 billion cubic meters | -0.1% |
| 1989 | 2.54 billion cubic meters | +0.1% |
| 1990 | 2.54 billion cubic meters | +0.0% |
| 1991 | 2.72 billion cubic meters | +6.9% |
| 1992 | 2.85 billion cubic meters | +4.7% |
| 1993 | 2.85 billion cubic meters | +0.0% |
| 1994 | 2.85 billion cubic meters | +0.0% |
| 1995 | 2.85 billion cubic meters | +0.0% |
| 1996 | 3.31 billion cubic meters | +16.4% |
| 1997 | 2.47 billion cubic meters | -25.5% |
| 1998 | 2.67 billion cubic meters | +8.2% |
| 1999 | 3.58 billion cubic meters | +34.0% |
| 2000 | 3.58 billion cubic meters | +0.0% |
| 2001 | 3.58 billion cubic meters | +0.0% |
| 2002 | 3.82 billion cubic meters | +6.7% |
| 2003 | 3.82 billion cubic meters | +0.0% |
| 2004 | 3.97 billion cubic meters | +4.2% |
| 2005 | 5.61 billion cubic meters | +41.0% |
| 2006 | 5.70 billion cubic meters | +1.8% |
| 2007 | 5.76 billion cubic meters | +1.0% |
| 2008 | 5.76 billion cubic meters | +0.0% |
| 2009 | 5.76 billion cubic meters | +0.0% |
| 2010 | 5.91 billion cubic meters | +2.7% |
| 2011 | 5.91 billion cubic meters | +0.0% |
| 2012 | 5.91 billion cubic meters | +0.0% |
| 2013 | 5.91 billion cubic meters | +0.0% |
| 2014 | 5.90 billion cubic meters | -0.2% |
| 2015 | 5.89 billion cubic meters | -0.2% |
| 2016 | 5.89 billion cubic meters | +0.0% |
| 2017 | 5.89 billion cubic meters | -0.0% |
| 2018 | 5.95 billion cubic meters | +1.1% |
| 2019 | 5.75 billion cubic meters | -3.4% |
| 2020 | 5.88 billion cubic meters | +2.2% |
| 2021 | 5.87 billion cubic meters | -0.2% |
Biggest year-on-year movements
Years where Oil reserves in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2005 | +41.0% | 3.97 billion cubic meters | 5.61 billion cubic meters |
| 1999 | +34.0% | 2.67 billion cubic meters | 3.58 billion cubic meters |
| 1997 | -25.5% | 3.31 billion cubic meters | 2.47 billion cubic meters |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 2.63 billion cubic meters | 2.54 billion cubic meters | 2.77 billion cubic meters | 10 |
| 1990s | 2.87 billion cubic meters | 2.47 billion cubic meters | 3.58 billion cubic meters | 10 |
| 2000s | 4.73 billion cubic meters | 3.58 billion cubic meters | 5.76 billion cubic meters | 10 |
| 2010s | 5.89 billion cubic meters | 5.75 billion cubic meters | 5.95 billion cubic meters | 10 |
| 2020s | 5.87 billion cubic meters | 5.87 billion cubic meters | 5.88 billion cubic meters | 2 |
Countries ranked near Nigeria
More energy & mining data for Nigeria
- Fossil fuel consumption by fuel, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Primary energy use, annual growth rate 2.96 % change on previous year (2024)
- Coal consumption, per capita 0 terawatt-hours per person (2024)
- Coal consumption, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Primary energy use, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Primary energy use, per capita 0 terawatt-hours per person (2024)
- Coal production, per capita 0 terawatt-hours per person (2024)
- Coal production, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Fossil fuel consumption by fuel, per capita 0 terawatt-hours per person (2024)
- Fuel imports 38.0% (2024)
Frequently asked questions
- What is oil reserves in Nigeria?
- Oil reserves in Nigeria was 5.87 billion cubic meters in 2021, according to U.S. Energy Information Administration (2022) – with major processing by Our World in Data.
- What is the highest oil reserves recorded in Nigeria?
- The highest recorded value was 5.95 billion cubic meters in 2018.
- What is the lowest oil reserves recorded in Nigeria?
- The lowest recorded value was 2.47 billion cubic meters in 1997.
- How does Nigeria rank for oil reserves?
- Nigeria ranks 12th out of 216 countries with data for 2021.
- Is oil reserves rising or falling in Nigeria?
- Over the last ten years it is down 0.8%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from U.S. Energy Information Administration (2022) – with major processing by Our World in Data, published as part of Oil reserves. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 42 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Proved reserves, measured in cubic meters, are generally those quantities that can be recovered in the future from known reservoirs under existing economic and operating conditions, according to geological and engineering information. Includes crude oil and lease condensate.