Aradel Holdings Plc has delivered a record-breaking financial performance for the 2025 financial year, reporting a profit after tax of ₦757.3 billion—a staggering 192 percent increase from ₦259.1 billion in 2024. The integrated energy company also saw its revenue rise by 20 percent to ₦699.4 billion, up from ₦581.2 billion the previous year, driven by robust contributions from its crude oil, gas, and refining operations. This exceptional growth underscores Aradel’s expanding footprint and strategic execution in Nigeria’s energy sector.
The surge in earnings coincided with a major expansion through the acquisition of an additional 40 percent stake in ND Western Limited, increasing Aradel’s effective equity interest in Renaissance Africa Energy Company to 53.3 percent. This strategic move significantly boosted the company’s reserves, production capacity, and operational reach. As a result, Aradel’s total assets skyrocketed by 466 percent to ₦9.9 trillion as of December 31, 2025, compared to ₦1.75 trillion in the prior year, reflecting the consolidation of ND Western and the carrying value of Renaissance.
Operationally, Aradel maintained strong momentum across its upstream, gas, and refining segments. Crude oil production rose by 3 percent to 14.1 thousand barrels per day, while gas production surged 59 percent to 51.4 million standard cubic feet per day. The company also recorded its highest-ever gas production rate of approximately 83.8 million standard cubic feet per day during the year. In refining, utilization improved to 49 percent from 40 percent in 2024, with refined product output increasing by 18 percent to 313.4 million litres and sales rising 26 percent to 302.9 million litres.
Aradel’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) more than doubled to ₦815 billion, while operating profit jumped 152 percent to ₦733.6 billion. The company attributed part of this strong performance to a ₦217.1 billion gain on bargain purchase and a ₦393.2 billion translation gain from the ND Western and Renaissance business combinations. Additionally, the share of profit from associates rose 246 percent to ₦109.5 billion, further bolstering bottom-line growth.
Chief Executive Officer Adegbite Falade described 2025 as a defining year for Aradel, highlighting that strategic acquisitions have positioned the company for materially larger-scale operations from 2026 onward. Looking ahead, Aradel plans to focus on integrating its expanded portfolio, increasing production, improving efficiency, and diversifying revenue streams to drive long-term shareholder value. The Board of Directors proposed a final dividend of ₦23 per share, bringing the total dividend for the year to ₦33 per share—a 26 percent increase in U.S. dollar terms compared to 2024.
Aradel ended the year with cash and cash equivalents of ₦1.5 trillion, up from ₦411.8 billion in 2024, providing a solid liquidity foundation for future growth and capital investments. This financial strength positions Aradel as a key player in Nigeria’s evolving energy landscape, with significant potential for continued expansion and profitability in the years ahead.
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