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This milestone secured it a spot as one of Nigeria’s most profitable companies, showcasing a dramatic 361.1 percent increase in profitability compared to the prior year.
The transaction has been designed to preserve SPDC’s operational integrity post-acquisition.
Aradel Holdings strengthens its energy sector footprint with a 5.14 percent stake in Chappal Energies, gaining access to Nigeria's key oil assets and driving future growth in the industry.
The selloff coincides with Nigeria’s decision to reject Shell’s plan to offload its onshore oil assets to a consortium that includes Aradel, alongside ND Western and Waltersmith.
This listing expands investment opportunities for Nigerians, aligning with Aradel’s mission of enabling broader participation in the oil and gas sector.
Aradel Holdings has surged past the $1 billion valuation mark, with its market capitalization exceeding $1.2 billion
The acquisition marks a significant expansion for the integrated energy group.
Jadesimi, who is the founder of Lagos-based LADOL, owns a 4.7-percent stake in Aradel Holdings, an oil-producing company.