Aradel's Profit Jumps 192% Thanks to ND Western and Renaissance Africa Deals

Energy company Aradel Holdings has reported a stunning 192.3 percent increase in net profit for 2025 compared to the previous year. This growth was highlighted in its latest audited report, marking the highest profit after tax the company has ever achieved.

The impressive rise comes from a ₦393.2 billion translation gain linked to a business deal made last year. Aradel acquired a majority stake in ND Western, an oil drilling firm where it previously had a smaller share.

By the end of 2025, Aradel bought a 40 percent stake in ND Western, bringing its total ownership in the company to 81.7 percent.

This deal also raised Aradel's stake in Renaissance Energy Holdings from 33.3 percent to 53.3 percent, making it the majority owner of that company.

In the same period, revenue grew by 20.4 percent to ₦699.4 billion. This increase was driven by crude oil exports and sales of refined products.

Operating profit rose by 151.7 percent, partly due to ₦217.1 billion earned from acquiring the extra stake in ND Western at a lower price than its fair market value.

Aradel's share of profit from its associate company reached ₦109.5 billion, up from ₦31.6 billion the previous year.

But the company also faced a ₦106.3 billion loss in fair value on the step acquisition, which came from legacy expenses related to the ND Western acquisition.

Profit before tax increased by 163.6 percent, while profit after tax soared to ₦757.3 billion from ₦259.1 billion.

“Our focus in 2026 is to build on our expanded portfolio. We want to enhance operational scale, improve efficiency across our assets, increase production, and diversify our revenue base. This is part of our long-term plan to grow the Group’s production and support sustainable, long-term shareholder value,” said Adegbite Falade, the CEO.

“Reflecting our strong performance and confidence in the future, the board is happy to propose a final dividend of ₦23.0 (US$0.016) per share. This brings the total distribution for 2025 to ₦33.0 (US$0.024),” he added.

The total dividend of ₦33 per share is 10 percent higher than in 2024. This means a potential payout of ₦143.4 billion.