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The selloff coincides with Nigeria’s decision to reject Shell’s plan to offload its onshore oil assets to a consortium that includes Aradel, alongside ND Western and Waltersmith.
This listing expands investment opportunities for Nigerians, aligning with Aradel’s mission of enabling broader participation in the oil and gas sector.
Aradel Holdings has surged past the $1 billion valuation mark, with its market capitalization exceeding $1.2 billion
The acquisition marks a significant expansion for the integrated energy group.
Jadesimi, who is the founder of Lagos-based LADOL, owns a 4.7-percent stake in Aradel Holdings, an oil-producing company.