…Profit after tax for the period was N401.2 billion, a 55% increase from N259.1 billion in FY 2024
…Crude sales rose to 4.1mmbbls (FY 2024: 3.1mmbbls)
WED FEB 04 2026-theGBJournal| Nigeria’s Aradel Holdings Plc on Tuesday reported better-than-expected full year profit in FY2025 and maintained the pace of its profitability, despite pressure from exceptional, non-recurring items, including crude oil overlifts.
The energy giant posted full year revenue of N697.3 billion (FY 2024: N581.2 billion), driven by sustained momentum across all business segments.
Aradel reported 18% growth to N440.1 billion in revenue from from crude oil exports (FY 2024: N373.7 billion), supported by higher production volumes and reliable evacuation through both the TNP and ACE system.
Crude sales rose to 4.1mmbbls (FY 2024: 3.1mmbbls), accounting for 63% of the total revenue despite decline in realized crude oil prices.
Refined products revenues increased by 18% to N210.8 billion (FY 2024: N179.3 billion) representing 30% of total revenue, driven by a 26% rise in sales volume to 302.9 mmltrs (FY 2024: 240.5 mmltrs).
The growth demonstrates the Company’s expanding downstream footprint and strong market penetration.
Gas revenues also rose by 65% to N46.4 billion (FY 2024: N28.2 billion), representing 7% of total revenue, driven by higher production volumes despite a decline in realised gas prices to $1.52/mscf compared to $1.66/mscf in FY 2024.
Income tax expense for the period is estimated at N62.5 billion (Cash Tax N74.3 billion and Deferred tax credit N11.8 billion), relative to FY 2024 tax expense of N57.7 billion.
Net finance costs dropped to (N5.3 billion) (FY 2024 (N6.2 billion)) following additional borrowings to finance the Shell Petroleum Development Company of Nigeria (SPDC) acquisition and other business operations, while finance income grew 16% to N18.6 billion, reflecting stronger returns from interestbearing cash investments.
Share of profits from associates rose sharply by 523% to N197.0 billion (FY 2024: N31.6 billion), reflecting enhanced contributions from ND Western Limited and Renaissance Africa Energy Company.
Renaissance (12.5% equity interest) contributed 30% (N58.4 billion), while ND Western (41.67% direct interest and an additional 20.8% through RAEC) accounted for the remaining 70% (N138.5 billion).
Recall that on 13 March 2025, the Renaissance consortium completed the acquisition of 100% SPDC Limited. Aradel’s effective share was 33.3% at completion.
On 31 December 2025, Aradel also completed the acquisition of additional 40% equity interest in ND Western Limited. The Transaction resulted in a material increase in Aradel’s aggregate shareholding in ND Western from 41.67% to 81.67%, and its ownership of Renaissance Africa Energy Company Limited from 33.3% to 53.3%.
Aradel also announced profit before tax of N463.7 billion up 46% from N316.8 billion in FY 2024. Profit after tax for the period was N401.2 billion, a 55% increase from N259.1 billion in FY 2024, driven by improved tax efficiency, and higher earnings contribution.
”Looking ahead, our focus is on consolidating our expanded portfolio to enhance operational scale, improve efficiency across our assets, increase production and further diversify our revenue base in support of long-term shareholder value,” says CEO Adegbite Falade.
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