Aradel profits surge 252% as Nigerian energy firm wins top awards

Aradel Holdings Plc swept the top prizes at the 2026 NOG Energy Awards. The recognition coincides with a 252% year-on-year surge in the Nigerian energy company’s first-quarter profit after tax.

The dual accolades serve as a marker of operational credibility for investors tracking Nigeria’s indigenous oil and gas sector. Aradel secured the Energy Excellence Award, while its Managing Director and Chief Executive, Adegbite Falade, received the H.E. Dr. Alirio Parra Lifetime Achievement Award.

Underlying the industry praise are stark financial improvements. For full-year 2025, Aradel’s profit after tax climbed 192%. The company attributes this to higher crude sales, increased production, and the successful execution of a major strategic move: acquiring an additional 40% equity interest in ND Western Ltd.

That momentum accelerated into the first quarter of 2026. Profit after tax grew 252% compared to the same period a year earlier, while profit before tax also posted triple-digit growth. These figures suggest the ND Western acquisition and operational efficiencies are translating directly to the bottom line.

The significance of the awards is amplified by who presented them. The Energy Excellence prize was handed over by Olu Arowolo Verheijen, the Special Adviser to the President on Energy. Falade’s lifetime achievement honour was presented jointly by Bayo Ojulari, Group Chief Executive of NNPC Limited, and Oritsemeyiwa Eyesan, chief executive of the Nigerian Upstream Petroleum Regulatory Commission.

Such high-level regulatory and executive endorsement signals strong standing within Nigeria’s complex petroleum value chain. For a company operating across upstream, midstream, and downstream segments, regulatory alignment is a critical risk mitigant.

“I am deeply honoured to receive the H.E. Dr Alirio Parra Lifetime Achievement Award and sincerely thank the organisers of NOG Energy Week for this recognition,” Falade said. “I am equally proud that Aradel has been recognised with the Energy Excellence Award, which reflects the dedication, discipline, and commitment of our entire team.”

“These awards inspire us to continue to deliver excellence, innovate bolder, and create sustainable value for our stakeholders, whilst also contributing meaningfully to the continued growth of Nigeria’s energy industry,” he added. The combination of aggressive portfolio expansion and disciplined execution positions Aradel as a standout performer in the Nigerian market.