…Tax expenses rose to N77.7 billion from N57.7 billion, while impairment losses narrowed sharply to N6.3 billion from about N13.2 billion
…Reflecting the stronger performance, the Board proposed a final dividend of N23 per share, up from N22 in 2024
SAT JUNE 20 2026-theGBJournal| Aradel Holdings Plc posted a sharp rise in earnings for 2025 after completing the consolidation of its enlarged stake in ND Western Limited, a transaction that delayed the release of its audited accounts but significantly strengthened the group’s upstream portfolio and boosted its exposure to Renaissance Africa Energy Company.
The Nigerian energy producer reported profit after tax of N757.3 billion for the year ended Dec. 31, 2025, nearly triple the N259.1 billion recorded a year earlier, while pre-tax profit climbed to N835 billion from N316.8 billion, underscoring the earnings impact of higher production and the consolidation of newly acquired assets.
Revenue rose about 20% to N699.4 billion from N581.2 billion in 2024, supported by stronger contributions across crude oil, gas and refined products.
Crude oil sales remained the dominant revenue driver at N440.1 billion, compared with N373.7 billion a year earlier, while gas revenue increased to N48.6 billion from N28.2 billion and refined products revenue expanded to N210.8 billion from N179.3 billion.
The company said the publication of the audited results was delayed by the integration of its expanded holding in ND Western Limited, which became a subsidiary after Aradel Energy Ltd., its wholly owned unit, completed the acquisition of an additional 40% equity interest on Dec. 31, 2025.
The transaction increased Aradel’s ownership in ND Western to 81.67% from 41.67%, requiring the acquisition to be accounted for under IFRS 3 business combination rules.
It also raised Aradel’s indirect stake in Renaissance Africa Energy Company to 53.3% from 33.3%, giving the company majority economic exposure to the consortium that acquired Shell’s onshore Nigerian assets.
Tax expenses rose to N77.7 billion from N57.7 billion, while impairment losses narrowed sharply to N6.3 billion from about N13.2 billion, providing additional support to bottom-line growth.
Reflecting the stronger performance, the Board proposed a final dividend of N23 per share, up from N22 in 2024, after paying an interim dividend of N10 per share.
Total dividends for the year amounted to N33 per share, compared with N30 per share in the previous year.
The final payout, subject to shareholder approval at the next annual general meeting and withholding tax deductions, signals management’s confidence that the enlarged asset base and increased exposure to Renaissance Africa Energy will underpin future cash flows and strengthen Aradel’s position among Nigeria’s leading indigenous energy producers.
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