KEY POINTS
- Aradel Holdings has secured a $250 million facility from Standard Bank to finance expansion, refinance debt, and boost production.
- The deal lifts Aradel’s stake in ND Western to 81.67 percent, giving it a controlling interest in the company.
- Strong revenue growth and strategic acquisitions are positioning Aradel as a leading integrated energy player in Nigeria.
Aradel Holdings Plc, the Nigerian energy group led by Chief Executive Officer Adegbite Falade, has secured a $250 million financing facility from South Africa’s Standard Bank Group to support expansion, refinancing, and long-term growth across Nigeria’s oil and gas sector.
Standard Bank acted as global coordinator and bookrunner for the deal, which was arranged through Stanbic IBTC Capital, Stanbic IBTC Bank, and The Standard Bank of South Africa.
A key part of the facility will fund Aradel’s acquisition of an additional 40 percent stake in ND Western from Petrolin Trading.
Following the transaction, Aradel’s shareholding in ND Western rises from 41.67 percent to 81.67 percent, giving the company a controlling interest.
The funding will also be used to refinance existing obligations and support increased production from Aradel’s operated assets.
Aradel Energy, a wholly owned subsidiary, currently operates the Ogbele and Omerelu onshore marginal fields and OPL 227.
Management Sees Strategic Value
Falade said the acquisition strengthens Aradel’s position across Nigeria’s oil and gas value chain and aligns with its long-term growth ambitions.
Stanbic IBTC Bank’s executive director for corporate and transaction banking, Eric Fajemisin, said the bank is pleased to back Aradel’s expansion plans, while Standard Bank’s regional head of energy and infrastructure finance for West Africa, Cody Aduloju, described the transaction as evidence of the group’s ability to deliver large-scale financing solutions.
Founded in 1992 as Niger Delta Exploration & Production Plc, Aradel has evolved into a diversified energy group with upstream, midstream, and downstream operations.
Gas development remains central to its strategy. The company commissioned a 100 million standard cubic feet per day gas processing plant in 2012, supplies gas to domestic customers, and has eliminated routine flaring at its Ogbele field.
Aradel also became the first non-joint venture producer to supply gas to Nigeria LNG and signed a new gas supply agreement in August.
