Aradel Holdings Reports ₦368.1 Billion H1 2025 Revenue, Profit Soars to ₦146.4 Billion

Lagos, Nigeria – August 1, 2025 – Aradel Holdings Plc has posted strong performance in its unaudited half-year (H1) 2025 results, with revenue climbing to ₦368.1 billion, up 37.2% year-on-year. Profit after tax surged 40.2% to ₦146.4 billion, reflecting robust operational growth across crude, gas, and refined products.

According to CEO Mr. Adegbite Falade, the results were achieved despite global supply uncertainties and domestic operational challenges. “Our company remained resilient, and we achieved steady production and key strategic milestones—including the acquisition of equity interest in Chappal Energies Mauritius and strong returns from Renaissance Africa Energy, our deemed associate,” he said.

Operational Highlights

• Crude oil production rose 19.7% to 15,508 bbls/day (H1 2024: 12,957 bbls/day)

• Gas production increased 1.5% to 41.2 mmscfd (H1 2024: 40.4 mmscfd)

• Refined products sold: 165.3 million litres, up 32.7%

• Average realised crude price: $73.6/barrel (down from $87.5 in H1 2024)

• Average realised gas price: $1.7/mscf (up from $1.5)

Financial Overview

Chief Financial Officer Mr. Adegbola Adesina highlighted the drivers of the revenue surge:

• Crude oil export revenue rose 36.0% to ₦232.8 billion, accounting for 63.2% of total revenue, supported by increased production and alternative evacuation systems.

• Refined products revenue rose 42.6% to ₦116.5 billion, driven by higher volumes.

• Gas revenue climbed 21.7% to ₦18.8 billion, supported by improved pricing and production volumes.

However, Cost of Sales (COS) jumped 91.8% to ₦204.9 billion, largely due to a 151.8% increase in statutory expenses, including royalties and NDDC levies, and a 48.1% rise in depreciation.

The company also noted a moderated pace of naira depreciation, with the exchange rate averaging ₦1,550/USD in H1 2025 (H1 2024: ₦1,345/USD).

Aradel underwent key governance changes during the period, with board members Ladi Jadesimi, Ede Osayande, and Thierry Georger stepping down, and four new directors joining—Ms. Kerin Gunter, Mr. Olusola Adeeyo, Mr. George Osahon, and Mr. Mahmud Tukur—bringing fresh insight and diversity.

“As we move into the second half of the year, our priorities remain clear: enhancing shareholder value, delivering operational excellence, and navigating the evolving energy landscape with responsibility and foresight,” Falade stated.