• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, August 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Aradel Reports ₦377.6bn Revenue In Q3 2024, Declares ₦8 Per Share Interim Dividend

by Leadership News
10 months ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Leading integrated indigenous energy company in Nigeria, Aradel Holdings Plc, has disclosed its earnings in the first nine months of 2024, saying its revenue increased by 206.9 per cent (N377.6 billion) from N123.0 billion in the same period in 2023.

Advertisement

Aradel said the rise was driven by 349.9 per cent increase in export crude oil revenue (66.6% of total revenue) to N251.6 billion (9M 2023 ₦55.9 billion; 45.5% of total), attributed to increased production levels, significant impact of improved utilisation of the Trans Niger Pipeline (TNP) on which there has been reduced crude losses, and additional value from the Alternative Crude Evacuation (ACE) route with resultant higher crude oil lifting of 2.1 mbbls in 9M 2024 (9M 2023: 1.3 mbbls).

A statement by the company on Wednesday said: “Gas revenue recorded a 263.5 per cent increase to ₦22.8 billion (6.0 per cent of total revenue), due to higher production volumes (9M 2023: ₦6.3 billion; 5.1% of total revenue).

“69.5 per cent increase in refined products’ revenue (27.3 per cent of total revenue) to ₦103.1 billion (9M 2023: ₦60.8 billion; 49.4% of total revenue) due to increased production and sales volumes of 148.6 mmltres, up by 17.8% (9M 2023: 126.2 mmltres).”

Speaking during the announcement of its unaudited nine months results for the period ended September 30, 2024, Chief Executive Officer of Aradel Holdings Plc, Mr Adegbite Falade, said the organisation achieved increased diversification of its revenue streams on significantly improved hydrocarbons production, and material increases in the output from its refinery operations.

RELATED

GTCO Declares Pre-tax Profits Of N300.4bn In Q1

GTCO Crosses N500bn Capital Base With Fresh Fund Injection

13 hours ago
JUST-IN: Federal Gov’t Increases Mining Fees, Royalties To Be Paid Operators

Scholarship Beneficiaries Seek Minister’s Intervention Over Mining In Community

13 hours ago
ADVERTISEMENT

“Wells 14 and 15 have now been drilled – and results have been favourable – concluding our Phase 1, 4-well turnkey drilling campaign. To accommodate the expected incremental volumes, we also expanded the throughput capacity of our evacuation channels. These activities, among others, put us in a position to maintain the output and efficiency levels for the nine months of the year.

“Additionally, we completed the acquisition of the Olo and Olo West Marginal Fields from the TotalEnergies/NNPC Joint venture. This will further enhance our portfolio and create new opportunities for future production growth. This acquisition will complement our existing operations and provide significant long-term value, aligning with our broader strategy of expanding our asset base to multiple assets across different locations, and increasing the resilience of our business.

“Our listing on the NGX bolsters liquidity of our shares and fulfills our promise to enhance shareholder value. We expect to close the year on a strong footing, barring any unforeseen circumstances.

ADVERTISEMENT

“In the light of the nine months performance, the Board has proposed the payment of an interim dividend of ₦8 per share. The Interim Dividend of ₦8 per Ordinary Share of ₦0.50 each, (subject to appropriate withholding tax) will be paid to shareholders whose names appear in the Register of Shareholders as at the close of business on 20 November 2024,” Falade stated.


Join Our WhatsApp Channel



Tags: Aradel Holdings
SendShare10174Tweet6359Share
ADVERTISEMENT
Previous Post

First Phase Of Lagos-Calabar Coastal Road Ready In May 2025 – Umahi

Next Post

Owner Of Collapsed Building Hospitalised, Loses 5 Children

Leadership News

Leadership News

You May Like

GTCO Declares Pre-tax Profits Of N300.4bn In Q1
Business

GTCO Crosses N500bn Capital Base With Fresh Fund Injection

2025/08/30
JUST-IN: Federal Gov’t Increases Mining Fees, Royalties To Be Paid Operators
Business

Scholarship Beneficiaries Seek Minister’s Intervention Over Mining In Community

2025/08/30
Business

Budget Office Explains Delay In Budget Implementation Reports

2025/08/30
T2, Huawei Ink Multi-Million Dollar Deal For Core Network Overhaul
Business

T2, Huawei Ink Multi-Million Dollar Deal For Core Network Overhaul

2025/08/30
Maltina Rolls Out New PET Bottles
Business

Maltina Rolls Out New PET Bottles

2025/08/30
Abia Think Tank Calls For Govt Accountability, Inclusivity
Business

Abia Govt To Revive Moribund Industries In Aba

2025/08/30
Leadership Conference advertisement

LATEST

Rivers LG Polls Peaceful, Orderly, Says Ibas

Tinubu Hails Bishop Kukah At 73, Praises Priest’s Role In Democracy, Peace Building

Nigerian Prophet Fufeyin Gets Rousing Welcome In Ghana

EFCC ‘Misled’ Nigerians On Forfeiture Of N5bn 246m NAPL Shares – Ex-MD’s Lawyers

Katsina Gov’t Revokes Private, Community School Licences

Police Rescue Kidnapped Ondo Health Worker

CHAN 2025: Morocco Beat Madagascar To Win Record 3rd Title

Kaduna ADC Stakeholders Accuse El-Rufai Of Attempt To Hijack Party

Thwarting The Perfidious Activities Of Self-Proclaimed CSOs In Kano Politics

‘I Remain Neutral In Chieftaincy Matters,’ Says Aiyedatiwa

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.