Gabonese oil tycoon Samuel Dossou-Aworet, who leads petroleum group Petrolin, has significantly deepened his footprint in Nigeria’s energy industry with a fresh $64.4 million investment in Aradel Holdings. The oil mogul acquired additional shares in the company listed on the Nigerian Exchange, reinforcing his long-standing presence in West Africa’s largest energy market.
A regulatory filing on the Nigerian Exchange shows Dossou-Aworet purchased 173.79 million additional shares in Aradel on September 25 through his firm, Petrolin Ocean Limited. The transaction, executed at an average price of N555 per share, brought his total investment to N96.45 billion 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 as of this week, his holding is now valued at N299.42 billion, cementing his position as the company’s largest individual shareholder.
The investment builds on Dossou-Aworet’s broader portfolio in Nigeria, which includes a 13.77 percent stake in Seplat Energy worth approximately $291.1 million, lifting the combined value of his holdings on the Nigerian Exchange to nearly $500 million. He also owns 16.8 percent of London-listed Tullow Oil Plc, demonstrating his significant presence across multiple African energy markets.
Dossou-Aworet’s role in Africa’s oil industry extends far beyond stock market investments. Since founding Petrolin in 1992, he has been part of several landmark deals, working with both African and global partners to position African companies as key players in the continent’s energy supply chain. One of his notable achievements came in 2012, when he led a venture that acquired a 45 percent interest in Nigeria’s OML 34 from Shell, Total, and Eni, marking a turning point in his Nigerian operations.
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, one of the largest transactions in the country’s energy history. The deal signals Shell’s retreat from the Niger Delta while reinforcing Dossou-Aworet’s growing influence in the region’s oil industry and his commitment to long-term investments in Nigerian energy assets.
Source: billionaires.africa