Nigeria's gas reserves now stand at 187 trillion cubic feet (5.3 trillion cubic meters), up from 166 trillion cubic feet (4.7 trillion cubic meters), said Funsho Kupolokun, group managing director of Nigerian National Petroleum Corporation (NNPC), in Abuja Thursday.

He said the nation currently consumes 573 million cubic feet ( 16.2 million cubic meters) of gas and would move up to 1,700 million cubic feet (48.1 million cubic meters) by the turn of the decade largely due to the current reforms in the power sector.

According to him, Nigeria has a number of gas projects, designed to achieve as much revenue as from crude and investment of over 14 billion U.S. dollars was required to fully grasp the maximum value of the commodity.