Nigeria's Aradel Holdings tripled its 2025 profit as it bought oilfields Western majors are quitting, though one-off accounting gains flatter the figure.
Aradel tripled 2025 profit acquiring Nigeria's oil from Shell and ExxonMobil, but most gains were one-off accounting entries, not core business growth. This reflects a continent-wide shift: Western majors retreat while local and Asian players consolidate energy control, reshaping who governs critical infrastructure and resources.
NIGERIA · ENERGY
Key Facts
—The shift: Aradel Holdings, a Nigerian oil and gas company, has become the country’s largest home-grown energy group by buying assets Western majors are selling.
—The headline: Its 2025 profit after tax tripled, up 192% to ₦757.3 billion ($552 million).
—The caveat: Most of that jump was one-off accounting gains from two acquisitions, not extra oil sold.
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