Samuel Dossou-Aworet set for big payout from ND Western

Gabonese oil tycoon Samuel Dossou‑Aworet is positioning himself for a significant financial gain as his company, Petrolin Group, nears the sale of its 40 percent stake in ND Western Limited to Nigeria’s Aradel Energy Limited. The deal, if approved by Nigerian regulators, would heighten Dossou-Aworet’s role in West Africa’s upstream oil-and-gas sector.

Petrolin’s operating arm, Petrolin Trading Ltd., and Aradel, via its parent Aradel Holdings, announced a signed definitive agreement under which Petrolin will exit its shareholding in ND Western, while Aradel will consolidate its position. The transaction is subject to approvals from the Nigerian Upstream Petroleum Regulatory Commission, the Federal Competition and Consumer Protection Commission and ministerial consent.

Aradel, ND Western deals signal expansion

ND Western holds a 45 percent participation interest in OML 34, located in Nigeria’s western Niger Delta. The lease is believed to include substantial crude-oil reserves and associated gas volumes serving both domestic supply and exports. ND Western also owns 50 percent of the holding company for the Renaissance Africa Energy Holding Company, which in turn oversees the Renaissance Africa Energy Company Limited joint venture operation.

The move aligns with Dossou-Aworet’s recent portfolio reshuffling. Earlier this year, his Petrolin benefited from the London-listed explorer Tullow Oil Plc selling its Gabonese subsidiary, Tullow Oil Gabon S.A., for about $300 million—a transaction that unlocked value linked to his investments in the region. He has also increased his involvement in Nigeria via a fresh direct investment in Aradel Holdings. On Sept. 25, via his firm Petrolin Ocean Limited, he bought some 173.79 million Aradel shares at an average price of N555, spending N96.45 billion ($64.4 million). That raised his stake in Aradel to 13.77 percent from 8.31 percent at the end of June.

Samuel Dossou-Aworet’s NGX portfolio surpasses $600 million

With Aradel’s stock trading around N790 ($0.54) this week, Samuel Dossou‑Aworet’s holding in the company is now valued at N472.3 billion ($323 million), making him the largest individual shareholder. At the same time, his broader holdings on the Nigerian Exchange include about $291.1 million in Seplat Energy and a 16.8 percent stake in Tullow Oil. Altogether, his publicly disclosed portfolio on the NGX now exceeds $600 million.

Dossou-Aworet’s decision to strengthen his foothold in Aradel and exit the ND Western stake reflects a focus on unlocking tangible returns while consolidating influence in Nigeria’s oil-and-gas sector. Analysts say the approvals process will be crucial, as Filipina, neighboring regulators increasingly scrutinize ownership shifts in key oil assets. For Dossou-Aworet, the outcome could translate into one of his largest single-asset payouts yet—solidifying not only his role as an investor, but his ability to convert long-term positions into realized value.