Bolden African News · Monday 2 November 2026
Aradel's nine-month revenue rises more than sevenfold to ₦3.95 trillion
Nigerian oil and gas producer Aradel Holdings reported revenue of ₦3.95 trillion for the nine months to 30 September, up 633% on a year earlier after its acquisitions. Profit after tax fell 82% to ₦43.3 billion, held down by a ₦529.1 billion charge on payments still owed for the ND Western and Renaissance deals, which the company is asking to review. It declared an interim dividend of ₦7 per share.
Why it matters
A measure of the scale Nigerian-owned producers are taking on as international oil companies sell their onshore assets, and of what those deals cost.
Sources: BusinessDay, Nairametrics, Nigerian News Direct · 1 November 2026