Nigeria’s Oil Reserves Will Run Dry In 49 Years - NairalandThe nation’s crude oil reserves of 37 billion barrels, two per cent of which is being produced annually, will be depleted in 49 years, according to the Department of Petroleum Resources .
The reserves, which stood at 37. 45 billion barrels in 2014 , fell to 37. 06 billion barrels in 2015 and 36. 74 billion barrels in 2016. It, however, rose to 36.97 billion barrels in 2017 and 37 billion barrels in 2018, the DPR data showed .
“ The nation’ s depletion rate and life index are 2. 04 per...
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