May 2026
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Largest Oil & Gas Public Companies in Nigeria
Benchmark revenue and EBITDA valuation multiples for public comps like
Aradel Holdings and Seplat Energy.
 | Aradel Holdings PLC is an indigenous energy company in Nigeria. It engaged in the upstream, midstream, and downstream value chain of the oil and gas industry. Its operations include Energy Transition and Renewable Energy. The group's assets are OML 54, OML 53, OML 34, and OPL 227. The group’s operations cover four segments: Crude Oil, Gas, Refinery & Investment Properties. The maximum revenue is from Crude Oil. | $1 | -- | $6B | $7B | 13.5x | 17.0x | ||
| Seplat Energy PLC is a Nigerian independent upstream oil and gas company which focuses on production and development opportunities in Nigeria. The company has two reportable segments, namely Oil and Gas. Geographically, it derives a majority of its revenue from the Bahamas. The company's exploration assets include OMLs 4, 38 and 41 which are located in Edo and Delta States onshore Nigeria; OPL 283 Marginal Field Area; and OML 53, which is located onshore in Imo State in the North-Eastern Niger Delta. | $9 | -- | $5B | $6B | 2.1x | 4.5x | ||
| Median | $5 | -- | $6B | $6B | 7.8x | 10.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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