Aradel’s Asset Base Tops N10trn on Shell and ND Western Deals
Aradel Holdings, a major Nigerian oil and gas independent, saw its total assets grow almost sixfold last year to N10.4 trillion from N1.7 trillion.
The company attributed the growth to its consolidation of ND Western and Renaissance Africa Energy Company Limited following the acquisition of control in both entities.
CEO Adegbite Falade said the company advanced its acquisition-led growth strategy in 2025 with the acquisition of a 33.3% equity interest in Renaissance and the purchase of an additional 40% equity interest in ND Western.
The completion of the ND Western transaction increased Aradel’s effective interest in ND Western to 81.67% and Renaissance to 53.33%.
On 13 March 2025, the Renaissance consortium completed the acquisition of Shell Petroleum Development Company of Nigeria.
Aradel’s share of profits from associates surged to N197.0 billion last year from N31.6 billion in 2024, reflecting enhanced contributions from ND Western and Renaissance, according to its earnings report released on Wednesday.
Renaissance (12.5% equity interest) contributed 30% (N58.4 billion), while ND Western (41.67% direct interest and an additional 20.8% through Renaissance) accounted for the remaining 70% (N138.5 billion).
Aradel reported profit before tax of N463.7 billion, up 46% from N316.8 billion in 2024.
Profit after tax was N401.2 billion, a 55% increase from N259.1 billion in 2024, driven by “improved tax efficiency, and higher earnings contribution,” the company said.
