By: Lonwabo Mtyeku | Photo Credit: Sourced
Johannesburg, 29 January 2026 — Standard Bank, through Stanbic IBTC Capital Limited, Stanbic IBTC Bank Limited, and The Standard Bank of South Africa Limited, has successfully concluded a landmark USD 250 million financing transaction for Aradel Energy Limited, strengthening the company’s growth trajectory and consolidating its position within Nigeria’s energy sector.
The financing facility was structured to support Aradel Energy’s strategic expansion plans, including the acquisition of an additional 40% equity stake in ND Western Limited, the refinancing of existing debt, and funding for increased production across its asset base.
Aradel Energy, a wholly owned subsidiary of Aradel Holdings Plc, operates the Ogbele and Omerelu onshore marginal fields, as well as OPL 227 in shallow offshore waters. Prior to the transaction, the company held a 41.67% stake in ND Western. Following completion, its shareholding has increased to 81.67%, significantly strengthening its operational control and long-term earnings potential.
ND Western holds a 45% participating interest in OML 34 and a 50% equity stake in Renaissance Africa Energy Company Limited, the operator of one of Nigeria’s most strategically important energy portfolios. As a result of the transaction, Aradel Energy’s indirect ownership in Renaissance has increased to 53.3%, reinforcing its footprint in Nigeria’s upstream oil and gas sector.
Standard Bank acted as Global Coordinator and Bookrunner, leading the structuring, execution, and funding of the facility. The transaction underscores the Bank’s deep expertise in energy finance and its growing role in supporting large-scale indigenous energy players across the continent.
Commenting on the deal, Eric Fajemisin, Executive Director for Corporate and Transaction Banking at Stanbic IBTC Bank, said:
“As Aradel Energy consolidates its position as one of Nigeria’s leading oil and gas companies, Stanbic IBTC Bank is proud to support its growth ambitions as a trusted long-term partner.”
Cody Aduloju, Regional Head of Energy & Infrastructure Finance for West Africa at Standard Bank, added:
“This transaction demonstrates Standard Bank’s ability to deliver complex, large-scale financing solutions. It reflects our continued commitment to supporting the growth of indigenous energy companies that are shaping the future of Nigeria’s oil and gas sector.”
Aradel Holdings Plc CEO Adegbite Falade welcomed the successful close of the transaction, noting that it represents a major milestone for the company.
“This acquisition significantly strengthens Aradel Energy’s competitive position across the value chain. It aligns with our strategy of asset optimisation, production growth, and long-term value creation. We are pleased to have partnered with Standard Bank, whose team delivered a fully funded solution under tight timelines.”
The transaction further reinforces Standard Bank Group’s commitment to providing strategic capital solutions that enable African companies to scale sustainably, enhance energy security, and unlock long-term economic value across the continent.
