Standard Bank, acting through Stanbic IBTC Capital Limited, Stanbic IBTC Bank Limited, and The Standard Bank of South Africa Limited, has successfully closed a USD 250 million financing facility for Aradel Energy Limited.

Through this transaction, the Bank directly supports Aradel Energy’s expansion plans. Specifically, the facility enables the acquisition of an additional 40 percent equity stake in ND Western Limited from Petrolin Trading Limited. At the same time, the funding allows the company to refinance existing loans and accelerate production across its current asset base.

Transaction Reshapes Aradel Energy’s Ownership Structure

Aradel Energy operates as a wholly owned subsidiary of Aradel Holdings Plc. It manages the Ogbele and Omerelu onshore marginal fields and also holds interests in OPL 227 in shallow water terrain.

Before the deal, the company owned 41.67 percent of ND Western. However, following the completion of the acquisition, Aradel Energy increased its holding to 81.67 percent. As a result, the company now exercises significantly stronger influence over ND Western’s operations and future direction.

Expanded Stakes Strengthen Upstream Position

ND Western holds a 45 percent participating interest in OML 34 and a 50 percent equity stake in Renaissance Africa Energy Company Limited. Renaissance, in turn, operates the Renaissance Joint Venture and owns 30 percent of one of Nigeria’s largest and most strategic energy portfolios.

Consequently, Aradel Energy’s indirect equity interest in Renaissance has risen to 53.3 percent. Through this shift, the company deepens its upstream footprint and reinforces its long term value creation strategy.

Standard Bank Leads Structuring and Execution

Standard Bank served as Global Coordinator and Bookrunner, and therefore led the structuring, execution, and funding of the facility from start to finish. In doing so, the Bank once again demonstrated its deep sector knowledge and execution capability. Moreover, the transaction strengthens Standard Bank’s standing as a key financier within Africa’s energy sector.

Stanbic IBTC Highlights Long Term Partnership

Speaking on the deal, Eric Fajemisin, Executive Director, Corporate and Transaction Banking at Stanbic IBTC Bank, emphasised the partnership approach.

According to him, as Aradel Energy continues to consolidate its position within Nigeria’s oil and gas space, Stanbic IBTC Bank remains proud to support the company as a long term financial partner focused on growth and scale.

Standard Bank Reaffirms Support for Indigenous Energy Companies

Similarly, Cody Aduloju, Regional Head, Energy and Infrastructure Finance, West Africa at Standard Bank, noted that the transaction clearly shows the Bank’s ability to deliver large, customised funding solutions.

Furthermore, he stressed that the deal reflects Standard Bank’s ongoing support for fast growing indigenous companies operating within Nigeria’s oil and gas sector.

Aradel Holdings Underscores Strategic Value

From the company’s perspective, Adegbite Falade, Chief Executive Officer of Aradel Holdings Plc, explained that the acquisition materially strengthens Aradel Energy’s competitive positioning across the oil and gas value chain.

In addition, he stated that the deal aligns with the group’s focus on strategic growth, asset optimisation, and sustained value creation. He also acknowledged Standard Bank’s role in delivering a fully funded solution within very tight timelines.

Commitment to Transformational Growth Across Africa

Overall, this financing reinforces Standard Bank Group’s commitment to providing strategic capital that enables clients to pursue transformational growth objectives.

By consistently delivering tailored financing solutions that support sustainable value creation, the Bank continues to position itself as a trusted partner to leading corporations operating within Africa’s evolving energy landscape.