Jadesimi, Falade gain $25.7m as Aradel stock surges

The past week turned into a money-maker for two familiar names in Nigeria’s energy scene. As Aradel Holdings’ share price shot from ₦631 to ₦790, businessman Ladi Jadesimi and chief executive Adegbite Falade saw the value of their personal stakes jump by about $25.7 million.

Jadesimi holds his shares through Badagry Creek FZE, a vehicle that owns just over 229 million units. That single move in price handed him a paper gain of roughly ₦36.4 billion, or $24.5 million at the current exchange rate. Falade owns 11.27 million shares. His increase came to about ₦1.79 billion, or $1.2 million.

The rally came at a time when Aradel has been pulling in more barrels, selling more products and tightening its grip on new assets. Crude output in the first half of the year reached 15,508 barrels a day, up nearly a fifth from a year earlier. Gas volumes climbed past 41 million standard cubic feet per day. The modular refinery pushed out 165 million litres of product, feeding a ₦368 billion revenue line and a profit haul of ₦146 billion.

The company also moved to expand its reach. It agreed to buy an additional 40 percent stake in ND Western Limited from Petrolin Trading, a deal that opens up more of OML 34 in the western Niger Delta. Earlier, it sealed the $19.5 million purchase of the Olo and Olo West fields.

Jadesimi, the 80-year-old founder of Nigeria’s LADOL Group, has been tied to the company since the early days when it was still called Midas Drilling Fund. It later became Niger Delta Exploration & Production before the Aradel name took hold. Its main hub sits at the Ogbele field in Rivers State, where a 100 mmscf/d gas plant and 11,000 bpd refinery form the backbone of its operations. Aradel joined the Nigerian Exchange’s main board in October last year.

The broader oil environment has tilted in favor of producers. Pipeline disruptions have eased, theft is slowing, and output is steadying. That combination has helped push Aradel’s stock higher, but it also reflects investor confidence in the company’s integrated structure.