The acquisition of an additional 40 percent interest in ND Western Limited, has seen Aradel Holding grow its total assets by a whopping 466 per cent to N9.9 trillion in the 2025 financial year.

Biztellers reports that the transaction conferred majority shareholding on Aradel, as its equity stake in Renaissance rose to 53.3 percent.

According to the energy company, the transaction, completed on December 31, 2025, also significantly expanded its reserves, production base and operational footprint, leading to a sharp increase in the size of its balance sheet.

Going by its audited results for the year ended December 31, 2025, total assets rose from N1.75 trillion in 2024 to N9.9 trillion, reflecting the consolidation of ND Western’s assets and liabilities and the carrying value of Aradel’s effective interest in Renaissance.

The company also reported a 192 percent increase in profit after tax to N757.3 billion from N259.1 billion in the previous year, while revenue rose by 20 percent to N699.4 billion from N581.2 billion.

In the same vein, operating profit increased by 152 percent to N733.6 billion from N291.4 billion, while earnings from associates rose by 246 per cent to N109.5 billion.

Aradel noted that the operational and income statement figures for 2025 do not include contributions from the newly acquired businesses because the transactions were completed on the last day of the financial year. It said only the balance sheet impact was consolidated as of December 31, 2025, while the full operational and earnings contributions are expected to be reflected from 2026.

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On the results, Chief Executive Officer, Adegbite Falade, said, “2025 was a defining year as we continued to strengthen our position as an integrated energy operating platform. We delivered record revenue and profitability, while executing the most transformational strategic expansion in our history.

Our additional 40 percent investment in ND Western and the resultant increase in our total effective interest in Renaissance (53.3 percent) significantly expanded our reserves, production base and operational footprint, positioning Aradel to operate at materially greater scale from 2026 onwards.”

On operations, crude oil production rose by three per cent to 14.1 thousand barrels per day from 13.8 thousand barrels per day in 2024, while gas production increased by 59 percent to 51.4 million standard cubic feet per day from 32.4 million standard cubic feet per day.

The company recorded crude oil sales of 4.1 million barrels during the year, up 32 per cent from the previous year, while refined product output increased by 18 percent to 313.4 million litres. Refinery utilisation improved to 49 percent from 40 percent in 2024. Gas revenue increased by 72 percent to N48.6 billion, while refined products revenue rose by 18 percent to N210.8 billion. Crude oil exports remained the largest revenue source, contributing N440.1 billion, or 63 percent of total revenue.

The company reported net cash generated from operating activities of N179.7 billion, compared with N311.9 billion in the previous year, while cash and cash equivalents rose to N1.5 trillion at the end of the period from N411.8 billion a year earlier.

Aradel’s board proposed a final dividend of N23 per share, bringing the total dividend for the 2025 financial year to N33 per share, compared with N26.4 per share paid for 2024.

Falade said the company would focus on integrating its expanded asset base, increasing production and diversifying revenue streams. “The consolidation of NDW and Renaissance fundamentally reset the scale of the Company’s balance sheet, giving us the asset and reserve base to underpin our future expansion. Our 2025 audited accounts therefore capture the balance-sheet impact of these acquisitions; their full earnings contribution will be reflected in the Group’s consolidated financial results from 2026 onwards.”

Reports that Iran has shut the strategic Strait of Hormuz, a strategic international shipping route again has sparked fresh concerns over global oil prices.

This latest shutdown comes barely 24 hours after it was reopened on the heels of a ceasefire arrangement with the United States.

According to a New York Post report which quoted the Islamic Revolutionary Guard Corps (IRGC), Iran cited a continued presence of United States forces in the region and Israel’s refusal to pull military forces out of southern Lebanon, where it had been pounding Hezbollah terrorists.

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The IRGC said the US violated the memorandum of understanding between Washington and Tehran, which President Donald Trump and Iranian President Masoud Pezeshkian signed last Wednesday.

The latest development has revived fears of disruptions to global crude oil supplies and a fresh rally in international oil prices, a scenario that could shake Nigeria’s downstream petroleum market.

The Strait of Hormuz remains one of the world’s most critical energy corridors, serving as the transit route for nearly a fifth of global oil consumption.

Any disruption along the waterway typically triggers nervous reactions in oil markets and raises concerns over energy security.

Industry observers warned that a prolonged closure could push crude oil prices higher, increase the cost of imported petroleum products and ultimately force a fresh upward adjustment in petrol prices across Nigeria.

For many Nigerians already grappling with high transportation and living costs, another spike in fuel prices would deepen existing economic pressures.

Osun State Governor, Senator Ademola Adeleke has expressed the state government’s desire to tap into the National Halal Economic Strategy (NHES) of the Federal Government.

According to a government house statement in Osogbo over the weekend, it would do so by creating a state’s policy and implementation plan within the federal strategy.

Gov Adeleke made the assertions, at the National Economic Council (NEC) meeting in Abuja on Thursday, where he commended the federal initiative on Halal economy, calling it “a timely step to tap into the multi trillion dollar Halal economy that is already integrated into western and global economy”.

The governor who called for a subnational template for halal implementation assures that his administration will set up an halal economy committee to adapt the federal template and create a state programme for implementation.

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He said the Halal economy has the potential to expand and deepen the Osun economy as its applications cuts across all economic sectors and is also open to multi-faith beneficiaries.

“I commend President Bola Tinubu for this initiative. Osun will work on an implementation plan to benefit all residents and indigenes. Halal economy covers financing, dietary requirements, infrastructure and ethical conduct in business relations”, the governor noted.

It would be recalled that Vice President, Kashim Shetimma had unveiled the national halal economic strategy, informing that the Strategy is “the result of careful study and sober reflection inspired by the commitment of the administration of President Bola Ahmed Tinubu “to diversify exports, attract foreign direct investment, and create sustainable jobs across the federation.

“It is also the product of deliberate partnership, developed with the Halal Products Development Company, a subsidiary of the Saudi Public Investment Fund, alongside Dar Al Halal Group Nigeria, with technical backing from institutions such as the Islamic Development Bank and the Arab Bank for Economic Development in Africa,” he added.