For more than 20 years, Niger Delta Exploration & Production Plc (NDEP) was admired for its unparalleled technical and operational commitment to host communities in the Niger Delta region. Nevertheless, the diversification and sustainability of the global energy narrative made the company’s leadership realize the need for change, which was more than just exploration and production.
Thus, the company had a profound rebrand in 2023 and changed the name from NDEP to Aradel Holdings Plc. This was much more than a name change. The name comes from Ara, which means ‘wonder’, and ‘Del’, originating from the Niger Delta region.
This was a shift in strategy focus from a diversified energy company to a holding company. The company shifted from being a pure-play oil producer to an integrated energy group with growing gas, refining, and renewables interests.
Brief History of Aradel Holdings Plc : From Midas Drilling Fund to Aradel Holdings
Aradel Holdings started its operations on March 25 1992, with the name Midas drilling Fund, Nigeria’s very first integrated oil and gas investment company.
In November 1996, it changed its name to Niger Delta Exploration and Production Plc (NDEP), as the company shifted focus to more than just oil drilling and expanded its exploration and production operations.
In May 2023, the company changed its name to Aradel Holdings to incorporate the company’s long term approach of providing economically favorable and sustainable energy solutions.
The idea of founding the company was to allow the average Nigerian access the and subsequently benefit from the burgeoning oil and gas industry.
Under the early leadership of the late Chief Godwin Aret Adams, who was the group managing director of the Nigerian National Petroleum Corporation (NNPC), Aradel was the first to build Nigeria’s mini refineries and gas processing plants operated by indigenous companies.
Also see: Aradel Holdings Salary Structure (2025): Roles, Pay Scales & Benefits Revealed
Operational Excellence Across the Energy Value Chain
Aradel Holdings operates through four key subsidiaries:
- Aradel Energy Limited: Aradel is also credited with oil exploration and production and managed Aradel Energy Limited, which operates the Ogbele and Omerelu marginal fields, and OML 34 and OPL 227.
- Aradel Gas Limited, Aradel Gas Limited is focused on gas distribution and owns a 100 million standard cubic feet per day (MMscf/d) gas processing plant, which serves several customers in the energy industry including the Nigerian liquefied natural gas (NLNG) company.
- Aradel Refineries Limited: Operates a modular refinery at the Ogbele field with a capacity of 11,000 barrels per day, producing refined products such as Automotive Gas Oil (AGO), Marine Diesel Oil (MDO), Heavy Fuel Oil (HFO), Dual Purpose Kerosene (DPK), Naphtha, and plans to produce Liquefied Petroleum Gas (LPG) and Premium Motor Spirit (PMS) in the near future
- Aradel Investments Limited: Holds the company’s non-oil and gas investments, contributing to the diversification of Aradel’s portfolio
Aradel’s flagship asset, the Ogbele Marginal Field, has been a cornerstone of its operations. The company has invested heavily in infrastructure to harness the full potential of this asset, including the commissioning of the Ogbele Gas Processing Plant in 2012, which has enabled the company to develop and monetize its gas resources effectively
Strategic Initiatives and Growth Milestones
The many strategic initiatives taken by Aradel Holdings proves that they are dedicated to innovation and change by the following activities:
Acquisition of Oil and Gas Assets:
On the 11th of August 2024, Aradel Holdings purchased the Olo and Olo West marginal fields and gas under exclusive contract of TotalEnergies EP Nigeria and the Nigerian National Petroleum Company Limited (NNPC) for 19.5 million dollars, thereby gaining 100% interest. This investment strengthens the company’s upstream portfolio and confirms their intentions to broaden their asset base
Partnerships and Equity Investments:
Aradel Holdings is able to enhance the diversity of its investments because the company had previously acquired 5.14 percent of the equity in Chappal Energies Mauritius Limited, a firm that works on maximizing value and bringing energy to underdeveloped areas of Africa. This strategy accomplished the aim of Aradel that is to extend its presence in the energy industry of
Listing on Nigerian Exchange
On the 11th of October 2024, the Aradel Holdings broke a new company record in their history as they were able to list their shares under the Nigerian Exchange (NGX). This step improves the company’s prominence and opens new channels of investment for lenders as the company continues to grow and develop
Sustainability & Community Development:
One of the primary goals of Aradel Holdings is to slow down and reduce the rate of culture and the harming of Mother Nature. This aim is accomplished by many means including devotion to the protective and sensitive use of earth’s natural resources.
Other acquisitions and milestones include:
- Modular Refinery Commissioning: The modular refinery’s construction and commissioning also boosted the modular refinery within the region, which is a rare accomplishment in downstream oil and gas. This advanced the company and other integrated oil and gas companies in the region.
- Consistent Dividend Payments: For shareholders, the Company’s financial performance and discipline is evident in the dividend payments that have been consistently paid for over a decade. This demonstrates strong performance and delivers to the company’s financial discipline.
- Strategic Rebranding: The Company’s rebranding to Aradel Holdings Plc NDEP in the year 2023 is a move that marked the company’s focus towards diversification, affirming its positioning and reputation in the African energy market.
- Acquisition and Expansion: The company further integrated the Omerelu field which increased the production base and oil reserve portfolio.
The impact these events have is far beyond the corporate world. They stimulate the economy and energy industries positively, underscoring their usefulness.
Innovations and Industry Impact of Aradel Holdings
Like many companies in the energy sector, Aradel Holdings Plc has been a strong promoter of the sector’s innovation and development in Nigeria.
The initiatives the company has implemented have become a benchmark for other local companies.
Aradel has also shown a working integrated energy model through its upstream, midstream, and downstream systems. This is one of the most significant impacts, he has integrated production and supply chains.
Aradels ability to connect upstream production to midstream processing and downstream refining reduced reliance on shocks to individual segments of the market and made the business model more resilient, sustainable, and profitable.
Investments in modular technology also mark the company’s innovation. Compared to traditional large-scale refineries, modular technology provides more flexible, scalable, and faster-to-deploy alternatives.
In Africa, Aradel has been successful in promoting modular refinement technology to offset the continent’s refining capacity deficit.
Beyond that, the commitment to uploading gas monetization has generated sustainable economic and environmental benefits. Commercializing flared gas into valuable products such as LPG and pipeline gas demonstrates responsible resource management. There are reduced greenhouse gas emissions and cleaner energy and cooking fuel available on the domestic market.
Aradel Financial Performance and Market Position
Aradel Holdings continues to perform well financially as a result of its operational effectiveness and strategic planning:
- Revenue Growth: Aradel Holdings has shown impressive financial performance over the years, reflecting its operational efficiency and strategic initiatives: Revenue Growth: In 2023 the company reported a revenue of $342 million a substantial increase from $156 million in 2022. This growth was driven by higher crude oil exports, refined product sales, and gas business revenues
- Profitability: Aradel Holdings has proven to capture revenue market growth potential as seen in the full year trading update. As of September 2025, Aradel Holdings has a market capitalization of roughly ₦2.53 trillion which makes it one of the largest oil and gas companies that are listed at the Nigerian Exchange.
Future plans and a forward-looking outlook
Future plans of Aradel Holdings are ambitious and still aligned with the pillars of sustainable growth and diversification. Continuing expansion of the company’s footprint across the energy value chain will be pursued through a combination of organic growth and strategic acquisitions.
Focusing on the future, the company will work to develop its refining and gas processing capacities. Aradel has plans to increase the output of its refinery and the gas processing facilities.
This will surely allow the company to meet the growing needs of the domestic market, simultaneously reducing the company’s carbon footprint with the growing range of gas-based products.
The company’s exploration and production will remain as a central part of the business. The company plans to optimize production while unlocking new opportunities to expand its reserves. This includes the continued development of the company’s assets under acquisition and participation in future bidding rounds for new oil and gas blocks.
Renewable energy will equally influence Aradel’s development focus. The company plans to integrate renewable energy sources to oil and gas operations.
The company has plans to install solar panels on its energy facilities and, thus, invest on other green based energy projects in order to comply with the world’s energy transition.
Careers at Aradel Holdings Plc – Job Opportunities
Do you want to move up in your career in Nigeria’s oil and gas industry? Aradel Holdings Plc is giving people who are enthusiastic and talented a chance, whether they are just starting out or have years of experience.
Visit the Career official career page of Aradel Holdings latest job listing and learn how to apply for roles that fit your interest and qualifications.
Also see: 2026 Aradel Graduate Trainee Program – Application Guide
Contact Aradel Holdings Plc
Investor Relations
- Email: IR@aradel.com
- Telephone number: +234 (0) 816188 2332
Whistleblowing Hotline
Email: kpmgethicsline@ng.kpmg.com
weblink: https://apps.ng.kpmg.com/ethics
Telephone number: 07030000026; 08088228888; 07058890140
Media and Corporate Communications
Email: corporatecommunications@aradel.com
Aradel’s Locations
Lagos Office
- Address: 15 Babatunde Jose Road, Victoria Island, Lagos, Nigeria.
Telephone number: +234 (80) 73893647
+234 (80) 73893656
Email: info@aradel.com
Port Harcourt Office
Address: 44 East-West Road, Romoudara, Port Harcourt, Rivers State, Nigeria.
Telephone number: +234 (84) 898965
Fax: +234 (84) 612806
Email: info@aradel.com
Final Thoughts
Over the years, Aradel Holdings Plc has started operating as a powerful, creative company in the African Energy market. Having been in the market as a single exploration company, the growth to now being vertically integrated in the industry serves as yet another example of unparalleled operational performance, sound vision, and excellent planning.
With a diversified portfolio spanning upstream, midstream, and downstream sectors, the company is well-positioned to navigate the complexities of the modern energy market.
Its achievements in gas monetization and modular refining have not only driven its own success but have also provided a blueprint for sustainable development within the industry.
FAQs – Aradel Holdings Plc
Who is the CEO of Aradel?
Adegbite Falade is the CEO of Aradel Holdings Plc. Since he was appointed in February 2021, he has been in charge of the company.
What is the former name of Aradel Holdings?
Aradel Holdings Plc used to be called Niger Delta Exploration and Production Plc (NDEP). It was first set up as the Midas Drilling Fund in 1992. In May 2023, the corporation changed its name to Aradel Holdings.
What is the price of Aradel today?
As of the latest update, 19th September, 2025, the stock price of Aradel Holdings Plc (ARADEL) is ₦530.00, reflecting a +₦18.80 gain (+3.68%) for the day
What do Aradel Holdings do?
Aradel Holdings Plc is a fully integrated Nigerian energy company with operations spanning the upstream, midstream, and downstream sectors of the oil and gas industry