Aradel Holdings PLC, a prominent player in Nigeria’s energy sector, has disclosed a significant share purchase by its Chief Financial Officer, Adegbola Adesina.
According to a filing with the Nigerian Exchange Limited (NGX), Adesina acquired 1,500,000 ordinary shares of the company at ₦506.25 per unit, totaling ₦759,375,000. The transactions occurred between June 2 and June 3, 2025, on the NGX platform.
Aradel Holdings PLC, listed on the NGX under the ticker ARADEL (ISIN: NGARADELO04), is a key player in Nigeria’s oil and gas sector, specializing in exploration, production, refining, and distribution.
With operations spanning upstream and downstream activities, Aradel has solidified its position through strategic investments, including its recent acquisition of a 5.14% equity stake in Chappal Energies and the completion of the Shell Petroleum Development Company of Nigeria (SPDC) acquisition in March 2025.
The company reported robust financials for 2024, with revenue soaring 162.8% to ₦581.2 billion and profit after tax surging 382.1% to ₦259.1 billion, reflecting its operational strength and market resilience.
Adegbola Adesina’s Role and Significance
As CFO, Adegbola Adesina is a pivotal figure in Aradel’s financial strategy, overseeing fiscal discipline and steering the company through a dynamic energy market.
His leadership has been instrumental in driving Aradel’s growth, particularly following its high-profile initial public offering (IPO) in 2024, which boosted its market capitalization by ₦3.4 trillion.
Insider purchases, particularly by senior executives like Adesina, are often interpreted as a vote of confidence in a company’s future prospects.
The shares acquisition underscores Adesina’s belief in Aradel Holdings’ growth trajectory, potentially boosting investor sentiment in a competitive market. This transaction might coincide with a surge in Aradel’s share price when the markets open.
Mr. Adegbola Adesina possesses an Executive MBA from INSEAD Business School and a First-Class Bachelor’s degree in Accounting from the University of Lagos. He is an Associate Member of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA).
With over 19 years of experience, he has worked in investment banking, financial and transaction advisory, auditing, project management, and accounting across various sectors, including private equity, energy, infrastructure, oilfield services, banking, and manufacturing.
He has led and managed capital raising initiatives (both debt and equity) and financing/restructuring deals for infrastructure projects and companies, handling both buy- and sell-side transactions. Over the past eight years, he has held senior finance positions in upstream production and gas processing businesses.
