Explore how Aradel Holdings plans to reshape Nigeria’s oil sector and compete with industry giant Dangote in refining.
Imagine a scenario where Nigeria, a country with vast oil reserves, leverages its own resources to drive economic growth.
Enter Aradel Holdings, poised to reshape Nigeria’s oil and gas sector, creating waves and setting itself as a formidable competitor to giants like Dangote.
1. Aradel’s Bold Announcement
Recently, Adegbite Falade, the dynamic CEO of Aradel Holdings, made a significant proclamation.
Within the next 12 months, Aradel plans to kickstart PMS production, marking its entry into the refining sector.
This decision, according to Falade, aligns perfectly with their dedication to diversifying Nigeria’s economy.
2. The 30th Anniversary Rebranding
During their 30th-anniversary celebration, Aradel dropped another bombshell.
The company, previously known as Niger Delta Exploration and Production Plc (NDEP), unveiled its new identity as Aradel Holdings. The reason?
To better mirror its ambitious strategy of emerging as Africa’s premier sustainable energy solution provider.
3. Dangote’s Dominance
The move by Aradel Holdings comes in the wake of Dangote’s grand opening of Africa’s largest oil refinery.
Boasting a staggering daily capacity of 650,000 barrels of crude oil, the Dangote Refinery stands as a testament to what’s possible in Africa.
4. A Glimpse Into the Future
Falade teased a tantalizing vision of a refinery boasting even greater capacity.
Imagine the economic implications! Aradel isn’t just looking to replicate existing models.
They’re here to revolutionize, emphasizing their pledge to sustainable energy solutions that stimulate economic growth while being eco-friendly.
5. Powering Ahead
Here’s a fun fact: Aradel produces a commendable 4.6 MWs of electricity for its plant.
But why stop there? They’re eyeing a jump to approximately 50MW within half a decade.
That’s ambition in action!
6. Perspective from the Top
Ladi Jadesimi, Aradel’s esteemed chairman, couldn’t be prouder.
For him, NDEP (now Aradel Holdings) has always been at the forefront, with a holistic view on energy provision, global energy shifts, and tech-driven innovations.
Their focus? Harnessing resources not just in Nigeria but across sub-Saharan Africa.
7. Dangote’s Employment Boost
While on the subject of refining giants, let’s talk numbers. Dangote Refinery currently employs a whopping 33,000 Nigerians.
But hold onto your hats—when fully operational, the job tally could rocket to 100,000!
8. Currency Matters
Dangote has quashed rumors.
Contrary to the buzz, the billionaire has confirmed that refined products will be sold in Nigeria’s local currency, debunking any dollar-based sale speculations.
The entry of Aradel Holdings into the refining sector is more than just business—it’s a statement.
As Nigeria stands on the precipice of an energy revolution, Aradel’s audacious moves might just be the catalyst the country needs.
With giants like Dangote already paving the way, it’s an exciting era for Africa’s energy landscape.
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When does Aradel Holdings plan to start PMS production?
Within the next 12 months.
What was Aradel Holdings formerly known as?
Niger Delta Exploration and Production Plc (NDEP).
What is the current capacity of the Dangote Refinery?
650,000 barrels of crude oil daily.
How much electricity does Aradel currently produce for its plant?
4.6 megawatts (MWs).
Will Dangote Refinery sell refined products in dollars?
No, they will sell in Nigeria’s local currency.