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Aradel Holdings Plc, a Nigerian energy group led by Chief Executive Adegbite Falade, has secured a $250 million financing facility from South Africa’s Standard Bank Group. The funding is aimed at supporting the company’s expansion and refinancing plans, as well as its broader growth strategy in Nigeria’s oil and gas sector.
Aradel expands stake in ND Western
Standard Bank served as global coordinator and bookrunner on the deal. The facility, arranged through Stanbic IBTC Capital, Stanbic IBTC Bank, and The Standard Bank of South Africa, will fund Aradel’s purchase of an additional 40 percent stake in ND Western from Petrolin Trading. The loan will also refinance existing debts and back higher production from Aradel’s existing fields. Aradel Energy, a fully owned subsidiary of Aradel Holdings, operates the Ogbele and Omerelu onshore marginal fields and OPL 227. Its stake in ND Western has increased from 41.67 percent to 81.67 percent following the transaction.
Adegbite Falade, Aradel Holdings’ CEO, said the acquisition strengthens the company’s position across Nigeria’s oil and gas value chain while supporting its growth plans. Eric Fajemisin, executive director for corporate and transaction banking at Stanbic IBTC Bank, added that the lender was proud to support Aradel’s ambitions. Cody Aduloju, regional head of energy and infrastructure finance at Standard Bank for West Africa, said the transaction demonstrates the bank’s capacity to provide large-scale financing solutions.
Aradel grows into an integrated energy giant
Founded in 1992 as Niger Delta Exploration & Production Plc, Aradel has expanded under Falade into a diversified energy group with upstream, midstream, and downstream operations. Gas development has been central to its strategy. In 2012, the company commissioned a 100 million standard cubic feet-per-day gas processing plant, supplies gas to domestic markets, and eliminated routine flaring at its Ogbele field. Aradel was also the first non-joint venture producer to supply gas to Nigeria LNG, signing a new supply agreement in August.
Since listing on the Nigerian Exchange (NGX) in October 2024, Aradel has become one of the country’s largest integrated energy companies. Revenue for the first nine months of 2025 rose 43 percent to N538.8 billion ($372.8 million) from N377.6 billion ($261.3 million) a year earlier, driven by higher sales of crude oil, gas, and refined products. After acquiring an additional 40 percent of ND Western, Aradel now holds an 81.67 percent stake and is the largest shareholder in Renaissance Africa Energy Consortium with 53.3 percent.
The larger stake gives Aradel effective control of assets formerly operated by Shell and strengthens its upstream exposure. In 2025, the company also bought a 6.01 percent stake in Chappal Energies, which holds 20.21 percent in Chevron-operated Agbami field, one of Nigeria’s largest deepwater developments. These moves position Aradel to influence production, capital spending, and future growth across key Nigerian oil and gas assets.
