Managing Director and Chief Executive Officer of Aradel Holdings PLC, Gbite Falade has disclosed plans of the company to list on the Nigerian Exchange’s main board before the end of the current quarter in September.
The Aradel MD spoke yesterday at the ongoing Society of Petroleum Engineers (SPE) Nigerian Council’s 47th Nigeria Annual International Conference & Exhibition (NAICE) in Lagos.
Speaking at a panel session, Falade noted that the company currently has over 2000 shareholders. He noted that governance at the board level and value addition are key drivers of the company’s continued growth.
He noted that Aradel continually strives to be a fully indigenous company operating in the Upstream, Midstream and Downstream of the oil sector.
In 2023, Aradel Holdings saw its total revenue grow by 234.5 percent to N221.1 billion from N66.1 billion in the prior year, driven by crude oil exports generating N108.4 billion, refined product sales and gas business contributed N102.5 billion and N10.2 billion, respectively.