Aradel Holdings Plc announced a significant 192 percent increase in its full-year profit after tax for 2025, reaching N757.3 billion. This substantial growth was fueled by robust performance across its oil, gas, and refining operations, complemented by considerable one-off gains from its acquisition of additional stakes in ND Western and Renaissance Africa Energy Company.
The integrated energy company's profit rose from N259.1 billion in 2024 to N757.3 billion in 2025. Concurrently, revenue saw a 20 percent increase, climbing to N699.4 billion from N581.2 billion in the previous year.
Higher sales volumes for crude oil, gas, and refined products, along with enhanced earnings from associates, underpinned the impressive earnings growth. The most significant contributor to the profit surge was the accounting gain derived from acquiring an additional 40 percent interest in ND Western, which elevated Aradel's ownership in Renaissance to 53.3 percent.
Operating profit experienced a 152 percent jump to N733.6 billion. This was bolstered by a N217.1 billion gain on bargain purchase and a N393.2 billion foreign-currency translation gain resulting from the business combination.
Adegbite Falade, CEO of Aradel Holdings, stated that 2025 was a pivotal year, reinforcing the company's position as an integrated energy operating platform. He highlighted the record revenue and profitability achieved while executing a transformative strategic expansion.
The increased stake in ND Western and Renaissance has significantly expanded Aradel’s reserves, production capacity, and operational reach. Crude oil exports, representing 63 percent of revenue, grew by 18 percent to N440.1 billion, supported by higher production and improved evacuation routes.
Revenue from refined products increased by 18 percent to N210.8 billion, while gas revenue surged by 72 percent to N48.6 billion, driven by increased output from new wells. Gas production rose 59 percent to 18.8 billion cubic feet, with average daily output reaching 51.4 million standard cubic feet.
The company also achieved its highest-ever gas production rate of approximately 83.8 million standard cubic feet per day after completing a gas revamp and expansion project. Crude oil production saw a modest 3 percent increase to 14,100 barrels per day, and refinery utilization improved to 49 percent from 40 percent.
Aradel's share of profit from associates climbed 246 percent to N109.5 billion, reflecting the earnings contributions from the newly acquired entities. These acquisitions, completed on December 31, 2025, will have their full impact reflected in the consolidated accounts from 2026.
The acquisitions dramatically transformed the company's balance sheet, with total assets expanding 466 percent to nearly N10 trillion from N1.75 trillion. Despite the strong earnings, Aradel recognized a N30.3 billion fair-value loss on its investment in Chappal Energies.
Looking forward, Falade indicated that Aradel will focus on integrating its expanded portfolio, enhancing efficiency, and boosting production. He emphasized that the consolidation of ND Western and Renaissance has reset the company's scale, providing a strong asset and reserve base for future growth.
The board has proposed a final dividend of N23 per share, bringing the total dividend for 2025 to N33 per share, a 26 percent increase in dollar terms compared to the previous year. Aradel Holdings shares have gained 161 percent year-to-date, closing at N1,750 per share on June 19, 2026.
