Economy
Aradel Grows FY 2025 Profit by 55% on Higher Earnings Contribution
By Aduragbemi Omiyale
Improved tax efficiency and higher earnings contribution supported the 55 per cent growth in the post-tax profit of Aradel Holdings Plc in the 2025 fiscal year.
The financial statements of the energy firm showed that the profit after tax stood at N401.2 billion in the period under review compared with the N259.1 billion recorded in the 2024 accounting year.
Analysis of the results revealed that the company delivered strong top-line growth, with total revenue up by 20 per cent year-on-year to N697.3 billion from N581.2 billion, due to sustained momentum across all business segments.
It was observed that earnings from crude oil exports grew by 18 per cent to N440.1 billion from N373.7 billion, supported by higher production volumes and reliable evacuation through both the TNP and ACE system.
Also, crude sales rose to 4.1mmbbls from the 3.1mmbbls recorded in the previous fiscal year, accounting for 63 per cent of the total revenue despite decline in realised crude oil prices.
Further, refined products revenues increased by 18 per cent to N210.8 billion from N179.3 billion, representing 30 per cent of total revenue, driven by a 26 per cent rise in sales volume to 302.9 mmltrs versus 240.5 mmltrs in FY 2024, demonstrating the organisation’s expanding downstream footprint and strong market penetration.
In addition, gas revenues increased by 65 per cent to N46.4 billion from N28.2 billion, indicating 7 per cent of total revenue, buoyed by higher production volumes despite a decline in realised gas prices to $1.52/mscf compared to $1.66/mscf in FY 2024.
“Aradel delivered a strong and resilient performance in 2025, reflecting the quality of our asset base, disciplined execution, and the inherent resilience of our diversified energy portfolio.
“Despite operating in a dynamic environment, we achieved meaningful growth across our upstream, gas, and refining businesses,” the chief executive of Aradel Holdings, Mr Adegbite Falade, stated.
“During the year, we advanced our acquisition-led growth strategy with the completion of two landmark transactions: the acquisition of a 33.3 per cent effective equity interest (comprising 12.5 per cent directly by Aradel Energy; and 20.8 per cent indirectly through ND Western Limited) in Renaissance Africa Energy Company Limited, operator of the Renaissance Joint Venture (formerly known as the SPDC Joint Venture), and the purchase of an additional 40 per cent equity interest in ND Western Limited,” he added.
“The acquisition of the additional interest in ND Western Limited represents a significant milestone for the group. It is fully aligned with Aradel’s long-term strategy of disciplined portfolio consolidation, asset base expansion, and sustainable value creation, and it further strengthens our strategic position within Nigeria’s upstream oil and gas sector. The completion of the NDW transaction increases Aradel’s effective interest in ND Western Limited to 81.67 per cent and the Renaissance Africa Energy Company Limited to 53.33 per cent,” Mr Adegbite further stated.
“Looking ahead, our focus in 2026 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,” he noted.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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