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 11th of 215 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 42 years of available data.
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
- Fuel imports 38.0% (2024)
- Ores and metals imports 1.1% (2024)
- Ores and metals exports 1.2% (2024)
- Gas production 507.74 terawatt-hours (2025)
- Fossil fuel production per person, by fuel 2,138 kilowatt-hours per person (2025)
- Fossil fuel production by fuel 507.74 terawatt-hours (2025)
- Gas production per person 2,138 kilowatt-hours per person (2025)
- Fuel exports 88.6% (2024)
- Electric power transmission and distribution losses 14.2% (2023)
- Share of dietary energy supply from carbohydrates vs. GDP per capita 67.9% (2023)
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 11th out of 215 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.