The Nigerian Government recently honoured Addax Petroleum Development Nigeria Limited (APDNL) through a dinner that was organised by the Ministry of Industry, Trade and Investment as the 13th most successful business entity in Nigeria – among the Top 100 Businesses in the country.

Addax Petroleum’s growth through acquisition of oil properties deemed by others to have limited remaining production potential and the Company’s commitment to human development in Nigeria’s oil and gas industry were key considerations for this ranking.

The event organisers also considered elements such as corporate government policy, level of compliance with regulations, value of annual investment, turnover and tax payments amongst other items during ranking.

The Nigerian Corporate Affairs Commission, Financial Reporting Council of Nigeria, Nigerian Stock Exchange and Nigerian Federal Inland Revenue Service verified and checked the selection criteria used by the Ministry of Industry, Trade and Investment for the event.

According to the President of Nigeria, His Excellency Dr Goodluck Ebele Jonathan, this initiative is aimed at encouraging economic transformation of Nigeria by mobilizing local and foreign investments to create jobs for Nigerians, wealth for the investors and income for the country.

The Top 100 Businesses in Nigeria selection committee used similar criteria to those adopted by Fortune magazine for its annual Fortune 500 list.


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