Pan-African Investment Firm ACA Exits Nigerian Oil Operator Aradel
Aradel Holdings Plc, a Nigerian indigenous energy independent, announced the realignment of its shareholder base following the full divestment of a 15.92% stake previously held by Capital Alliance Private Equity IV Limited, a private equity fund sponsored by African Capital Alliance Limited (ACA).
The company said its listing on the Nigerian Exchange Limited in October 2024 broadened its shareholder base and drew strong interest from both institutional and private investors.
“Aradel’s progress has been defined by disciplined operations and constructive partnerships,” said Adegbite Falade, chief executive officer of Aradel Holdings. “We appreciate ACA’s contributions throughout our journey and we welcome its continued support in this next chapter. Our focus remains unchanged: to continue to strengthen our operations, uphold sound governance practices, and deliver sustainable value to shareholders, host communities, and the wider Nigerian economy.”
Aradel, formerly Niger Delta Exploration & Production, has operations across upstream, midstream and downstream segments. Its asset base includes PML 14, PPL 247, OPL 227, the Olo and Olo West marginal fields, a 100mmscf/d gas processing facility and a three-train 11,000bpd modular refinery.
In 2024, Aradel averaged 13,751 barrels of oil and condensate per day and 32.4 mmscf/d of gas, while producing 264.9 million litres of refined products.
