Aradel and Seplat emerge as Nigeria’s oil and gas cash kings, but balance sheets tell a more nuanced story

AI Summary

Nigerian oil and gas companies Aradel Holdings Plc and Seplat Energy Plc hold a combined cash reserve of N2.24 trillion, dominating the upstream sector's liquidity. However, their balance sheets reveal a more complex financial situation beyond cash holdings.

By the end of the first quarter of 2026, Aradel Holdings Plc and Seplat Energy Plc together held N2.24 trillion in cash and bank balances, representing almost the entire cash reserve of Nigeria’s listed upstream oil industry. The post Aradel and Seplat emerge as Nigeria’s oil and gas cash kings, but balance sheets tell a more nuanced story appeared first on Nairametrics.