GTBank co-founder Fola Adeola eyes $4 million dividend from Nigerian energy giant Aradel

Fola Adeola, the leading businessman and banking executive who co-founded GTBank, is set to receive more than $4 million in final dividends from his stake in Aradel Holdings Plc after the Nigerian energy company delivered a record profit for its 2025 financial year.

According to data tracked by Shore.Africa, Adeola owns a 5.52-percent stake in Aradel, equivalent to 240,002,980 shares. Based on the company’s recommended final dividend of N23 ($0.016) per share, he stands to receive N5.52 billion ($4.05 million). The proposed payout forms part of a final dividend distribution of N99.93 billion ($73.4 million) to shareholders.

Aradel’s earnings jump spurs payout

This will add to the N2.4 billion ($1.76 million) interim dividend Adeola received earlier in the year when Aradel paid an interim dividend of N10 ($0.0073) per share, amounting to N43.45 billion ($31.9 million). Combined, the two distributions will raise his total dividend earnings for the year to N7.92 billion ($5.82 million). Aradel’s total dividend for 2025 stands at N33 ($0.02) per share, representing an aggregate shareholder payout of N143.4 billion ($105.3 million).

The proposed dividend follows a year of exceptional earnings growth for Aradel, as increased production and the integration of recent acquisitions lifted both revenue and profitability. The Lagos-based energy group reported profit after tax of N757.3 billion ($555.7 million) for the year ended Dec. 31, 2025, up 192 percent from N259.1 billion ($190.1 million) a year earlier.

Acquisitions fuel earnings expansion

The sharp increase was supported by stronger operating performance and gains tied to business combinations. During the year, Aradel consolidated its expanded stake in ND Western Limited and increased its effective interest in Renaissance Africa Energy, where it now holds 53.3 percent. Those transactions strengthened the company’s position across key segments of Nigeria’s oil and gas industry and contributed significantly to earnings growth.

The acquisitions also reshaped Aradel’s balance sheet. Total assets climbed to N9.9 trillion ($7.26 billion) at the end of 2025, up from N1.75 trillion ($1.28 billion) a year earlier. Shareholders’ equity rose to N2.15 trillion ($1.57 billion), while cash increased to N1.5 trillion ($1.1 billion), reflecting inflows associated with the company’s investment activities.

Aradel consolidates 53.3% Renaissance stake

While operating cash generation remained positive, net cash from operating activities declined 42 percent to N179.7 billion ($131.9 million). At the same time, investing activities generated an inflow of N708.9 billion ($520.2 million), largely due to business combinations. Financing activities also contributed to liquidity, producing a positive cash flow of N219.6 billion ($161.1 million), supported by new borrowings totaling N503.8 billion ($370 million).