Halal, with purification
Aradel passes the business-activity screen and the financial screens under the AAOIFI Standard. Because a share of its income is non-permissible, the matching portion of any dividend you receive should be given away.
NGX: ARADEL · Oil & Gas · Screened 4 Sept 2026 · H1 2026 accounts
Aradel Holdings Plc is a Nigerian independent energy company operating across upstream exploration and production, midstream gas processing, and downstream refining and product distribution. Operated crude oil production rose nearly 20% year on year to 15,508 barrels per day in the first half of 2025. Its three-train refinery increased refined product volumes 18% to 313.4 million litres in full year 2025, from 264.9 million litres. Gas production reached a record of approximately 83.8 million standard cubic feet per day following a gas revamp and expansion project, having averaged 41 mmscf/d in the first half of 2025 and climbed to approximately 72 mmscf/d by August.
Revenue was N699.43 billion for 2025, up 20.3% from N581.15 billion, with profit after tax of N757.34 billion against N259.07 billion in 2024. Operating profit rose 152% to N733.6 billion, EBITDA rose 119% to N815.0 billion, and earnings from associates rose 246% to N109.5 billion. Total assets rose to N9.90 trillion against N1.75 trillion, the increase driven substantially by strategic acquisitions, including the acquisition of an additional 40% stake in ND Western which increased Aradel's effective equity stake in Renaissance Africa Energy Company to 53.3%. This transaction was completed on 31 December 2025, so only the balance sheet impact was consolidated in FY2025; operational contributions will reflect from 2026 onward.
Refined product revenue reached N210.8 billion, accounting for 30% of total turnover. The company declared a total dividend of N33.00 per share for FY2025. It was ranked first among Nigerian independents in the Africa Oil and Gas Report 2025 Talented Tenth ranking.
Upstream crude production, midstream gas processing, and downstream refining and product distribution.
Yes, with purification. As of 4 September 2026, Aradel (ARADEL) is halal to own under the AAOIFI Standard, provided you purify the non-permissible portion of any dividend you receive.
The dividend is permissible to receive once purified. Qistal publishes the purification rate for the current accounts period inside your compliance report, so you can work out the exact amount to give away.
Qistal re-screens every NGX ticker when new audited or interim accounts are filed. This page always shows the date of the most recent screen.
Yes. Compliance drifts as a company borrows, raises cash, or changes its business mix, so a verdict describes a moment rather than a permanent status.