Rising Aradel share price pushes CEO Adegbite Falade’s stake close to $15 million

Aradel Holdings chief executive officer Adegbite Falade has seen the value of his personal stake in the Lagos-based integrated energy group climb sharply this year, as a sustained rally in the company’s share price on the Nigerian Exchange (NGX) pushes his holding closer to the $15 million mark. The increase comes amid stronger investor interest in energy stocks, supported by firmer crude oil prices following disruptions linked to the Iran war, which have shaped sentiment across the sector and lifted valuations on the local bourse.

Falade stake nears $15 million as Aradel shares gain 170 percent year-to-date

Market data tracked by Shore.Africa shows that Adegbite Falade, who has served as Managing Director and Chief Executive Officer since 2021, holds 11,271,560 ordinary shares in Aradel Holdings. The value of this minority stake has risen by N12.8 billion ($9.6 million) since the beginning of the year, moving from N7.55 billion ($5.2 million) on Jan. 1 to N20.4 billion ($14.8 million), bringing it within striking distance of the $15 million threshold.

Aradel’s share price has gained 170 percent year-to-date, rising from N670 ($0.463) at the start of the year to N1,806.3 ($1.31), placing it among the strongest performers on the Nigerian Exchange. The increase reflects sustained demand for the stock and a broader re-rating of energy-linked companies on the NGX. The sustained appreciation has helped lift the company’s market capitalization to N7.98 trillion ($5.8 billion), ranking it as the sixth most valuable listed company in Nigeria and underscoring its weight within the equity market.

Acquisition drives portfolio expansion under Falade

The company’s financial performance has provided additional support for investor sentiment. For the 2025 financial year, Aradel reported profit after tax of N401.2 billion ($290.8 million), up from N259.1 billion ($188.1 million) a year earlier, driven by higher revenue, stronger profit from associates, and improved contributions across crude oil, refined products, and gas operations. Total assets expanded significantly over the period, rising from N1.75 trillion ($1.26 billion) to N10.4 trillion ($7.6 billion), while shareholders’ equity increased to N3.48 trillion ($2.53 billion). Retained earnings also climbed to N654.1 billion ($473.8 million).

Falade attributed the performance to execution across the group’s diversified operations. “Despite operating in a dynamic environment, we achieved meaningful growth across our upstream, gas, and refining businesses,” he said, pointing to two key transactions completed during the year. These included the acquisition of a 33.3 percent effective equity interest in Renaissance Africa Energy Company Limited and the purchase of an additional 40 percent equity interest in ND Western Limited, which increased Aradel’s effective holding in ND Western to 81.67 percent and its stake in Renaissance to 53.33 percent.