Aradel Holdings Plc has reported record financial results for the year ended December 31, 2025, driven by strategic acquisitions, increased production, and strong operational performance across its energy value chain.
The integrated indigenous energy company announced that revenue rose by 20% year-on-year to ₦699.4 billion in 2025, compared to ₦581.2 billion recorded in 2024, while profit after tax surged by 192% to ₦757.3 billion.
The company described 2025 as a transformative year, highlighted by the completion of an additional 40% acquisition in ND Western Limited (NDW), which increased its ownership stake to 81.67%.
The transaction also raised Aradel’s effective equity interest in Renaissance Africa Energy Company to 53.3%, significantly expanding its reserves base, production capacity, and operational footprint.
Aradel noted that because the acquisition was completed on December 31, 2025, the earnings contribution from the newly acquired entities was not reflected in the company’s 2025 income statement.
Revenue and Profit Rise
The company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of ₦815 billion, representing a 119% increase from the previous year.
Operating profit climbed by 152% to ₦733.6 billion, supported by a ₦217.1 billion gain on bargain purchase and a ₦393.2 billion foreign currency translation gain arising from the business combinations.
Profit after tax reached ₦757.3 billion, equivalent to approximately $552 million, compared with ₦259.1 billion in 2024.
Aradel also recorded a 246% increase in its share of profit from associates to ₦109.5 billion, reflecting contributions from acquired entities before their consolidation.
Production and Refining Performance Improve
Crude oil production averaged 14,100 barrels per day during the year, representing a 3% increase from 2024, while crude oil sales rose by 32% to 4.1 million barrels.
Gas production recorded stronger growth, rising by 59% to an average of 51.4 million standard cubic feet per day (mmscf/d), with peak production reaching approximately 83.8 mmscf/d.
The company said the performance reinforces its position as a key supplier to Nigeria’s domestic gas market.
In the downstream segment, refinery utilization improved to 49%, up from 40% in the previous year, while refined product output increased by 18% to 313.4 million litres.
Aradel also reported achieving 10.2 million lost-time injury (LTI)-free man-hours during the period.
Proposed Dividend
The board proposed a final dividend of ₦23.00 per share, bringing the total dividend for the 2025 financial year to ₦33.00 per share.
According to the company, the payout represents a 26% increase in U.S. dollar terms and reflects confidence in its future growth prospects and cash-generating capacity.
Operating cash flow stood at ₦179.7 billion, while investing and financing activities were strengthened by acquisition-related inflows and new borrowings.
Commenting on the results, Chief Executive Officer, Adegbite Falade, said 2025 marked a defining year for the company.
He stated that the additional investment in ND Western and the resulting increase in the company’s stake in Renaissance significantly expanded its reserves, production base and operational footprint.
Falade added that Aradel’s focus in 2026 would be on integrating its expanded portfolio, improving operational efficiency, enhancing production, and diversifying revenue streams to create sustainable value for shareholders.
