Aradel, led by Nigerian businessman Ladi Jadesimi, declares $62 million dividend

Key Points

• Aradel’s revenue soared 162.8% to N581.2 billion($378.55 million), driven by increased crude exports, higher production, and improved pipeline utilization.
• The company raised its total 2024 dividend by 200% to N130.35 billion ($84.81 million), reflecting strong cash generation and a commitment to shareholder value.
• Strategic acquisitions, including Olo and Olo West Marginal Fields and a stake in Chappal Energies, positioned it for sustained growth in 2025.

Aradel Holdings, the Nigerian energy group led by multimillionaire Ladi Jadesimi, is set to pay a final dividend of $62 million to shareholders for its 2024 fiscal year.

The payout reflects the energy group’s focus on rewarding investors following an impressive financial performance in 2024, driven by increased crude oil production, enhanced pipeline utilization, and higher crude oil lifting volumes through the Alternative Crude Evacuation (ACE) route.

The integrated energy group increased its final dividend by 158 percent to N22 ($0.014) per share, totaling N95.59 billion ($62.22 million). With an interim dividend of N8 ($0.0052) per share earlier, the total payout for 2024 stands at N130.35 billion ($84.81 million), a 200 percent increase from 2023. The final dividend is subject to shareholder approval at the upcoming AGM.

Aradel surges with record profits and expansion

Aradel posted a stellar 2024 performance, with revenue soaring 162.8 percent to N581.2 billion($378.64 million), driven by a 244.6 percent surge in export crude oil revenue and higher production volumes. Profit after tax climbed by 382.1 percent to N259.1 billion ($168.69 million), reflecting strong margins and strategic operational efficiencies.

The company expanded its asset base with the acquisition of Olo and Olo West Marginal Fields and a 5.14 percent stake in Chappal Energies. It also strengthened its crude evacuation capacity through the Alternative Crude Evacuation (ACE) system, further enhancing operational resilience.

“Our disciplined execution and strategic growth initiatives continue to drive exceptional value,” said CEO Adegbite Falade. “With strong cash generation, expanded throughput capacity, and a solid asset base, we remain well-positioned for sustained growth.” Aradel’s listing on the Nigerian Exchange (NGX) in October 2024 further boosted shareholder value and liquidity. 

Ladi Jadesimi drives Aradel’s expansion

Aradel Holdings Plc, a leading Nigerian energy group, has evolved from its 1992 founding as Niger Delta Exploration & Production Plc into a fully integrated energy powerhouse under Ladi Jadesimi’s leadership. Its operations span the upstream, midstream, and downstream sectors, with interests in multiple oil and gas fields.

The company’s 2024 success reflects key milestones, including increased hydrocarbon production and the Omerelu Field re-entry. Listed on the NGX in October 2024, Aradel’s market valuation hit N2.17 trillion ($1.41 billion). Total assets surged 89 percent to N1.744 trillion ($1.12 billion), while total equity nearly doubled to N1.39 trillion ($895.4 million).

Retained earnings climbed 83.7 percent to N384.04 billion ($247.4 million). With strategic investments, including a stake in Renaissance Africa Energy—now owner of Shell’s former Nigerian assets—Aradel is well-positioned for sustained growth in 2025.