Samuel Dossou-Aworet boosts Aradel stake with a $64 million share purchase, cementing his role in Nigeria’s oil sector.
Gabonese oil tycoon Samuel Dossou-Aworet, who leads petroleum group Petrolin, has deepened his footprint in Nigeria’s energy industry with a fresh investment in Aradel Holdings. The oil mogul acquired $64.4 million worth of shares in the oil and gas company listed on the Nigerian Exchange (NGX), reinforcing his long-standing presence in the region’s energy market.
Dossou-Aworet lifts Aradel stake to 13.77%
A regulatory filing on the NGX shows Dossou-Aworet purchased 173.79 million additional shares in Aradel on Sept. 25 through his firm, Petrolin Ocean Limited. The deal, executed at an average price of N555 per share, brought his total outlay to N96.45 billion ($64.4 million) and raised his stake in the company to 13.77 percent from 8.31 percent at the end of June.
With Aradel stock trading at N560 ($0.37) as of this week, his holding is now valued at N299.42 billion ($199.9 million), cementing his position as the company’s largest individual shareholder. The investment builds on his broader portfolio in Nigeria, which includes a 13.77 percent stake in Seplat Energy, worth about $291.1 million, and lifts the combined value of his holdings on the NGX to nearly $500 million. He also owns 16.8 percent of London-listed Tullow Oil Plc.
Samuel Dossou-Aworet shapes Africa’s energy future
Samuel Dossou-Aworet’s role in Africa’s oil industry is not limited to stock market bets. Since founding Petrolin in 1992 he has been part of several landmark deals working with both African and global partners. His efforts reflect a consistent push to position African companies as key players in the continent’s energy supply chain.
One of his notable deals came in 2012, when he led a venture that acquired a 45 percent interest in Nigeria’s OML 34 from Shell, Total and Eni. That acquisition marked a turning point in his Nigerian operations and cemented his role as a long-term investor in the country’s oil sector.
More recently, his flagship Petrolin Group joined forces with Waltersmith Group, ND Western, First E&P, and Aradel Energy to form the Renaissance consortium. Earlier this year, the group completed a $2.4 billion deal to acquire Shell Plc’s onshore oil business in Nigeria. The transaction, one of the largest in the country’s energy history, signals Shell’s retreat from the Niger Delta while reinforcing Dossou-Aworet’s influence in the region’s oil industry.
