Aradel Holdings Plc has successfully completed the acquisition of an additional 40 per cent equity interest in ND Western Limited, a move that significantly bolsters its presence in Nigeria’s upstream oil and gas sector. This strategic transaction, finalized through Aradel’s wholly owned subsidiary, Aradel Energy Limited, marks a pivotal moment for the company, solidifying its control over a key asset. The acquisition was officially concluded after meeting all necessary regulatory and contractual prerequisites, demonstrating a well-executed business maneuver.
This latest deal builds upon previous agreements, with the acquisition being first announced on October 24, 2025. The purchase of the stake from Petrolin Trading Limited was a critical step in Aradel’s expansion strategy. The completion of this transaction has seen Aradel Energy Limited’s shareholding in ND Western escalate from its prior 41.67 per cent to an impressive 81.67 per cent, officially designating ND Western as a subsidiary under Aradel Energy Limited’s umbrella.
What is Aradel Holdings? Aradel Holdings Plc is an integrated energy company focused on acquiring and developing oil and gas assets in Nigeria. Their strategy centers on consolidating their portfolio, expanding their asset base, and creating sustainable value for their stakeholders.
Furthermore, this acquisition has an indirect impact on Aradel’s stake in Renaissance Africa Energy Company Limited, increasing its aggregate indirect shareholding from 33.3 per cent to 53.3 per cent. Renaissance Africa Energy Company Limited is part of a larger consortium that includes several local and one foreign firm, highlighting the collaborative nature of operations within the sector.
ND Western holds a substantial 45 per cent participating interest in Oil Mining Lease (OML) 34, a currently producing asset situated in the western Niger Delta region. This asset is of significant strategic importance due to its operational status and geographical location.
The company also possesses a 50 per cent ownership of the share capital of Renaissance Africa Energy Holding Company Limited, which serves as the parent entity for Renaissance Africa Energy Company Limited. This structure is integral to the operation of the Renaissance Joint Venture, showcasing a complex but effective ownership model.
Aradel has articulated that this acquisition aligns perfectly with its overarching long-term strategy. The company’s focus remains on disciplined portfolio consolidation, aiming to systematically integrate valuable assets, and expanding its asset base to ensure sustained growth. The pursuit of sustainable value creation is a core tenet of their business philosophy.
This strategic move is anticipated to yield considerable benefits, including a notable enhancement in Aradel’s operational scale, a boost in overall efficiency across its operations, and improved resilience within its diverse asset portfolio. These improvements are expected to contribute to the company’s long-term success and stability.
Commenting on this significant development, Mr. Adegbite Falade, the Chief Executive Officer of Aradel Holdings Plc, emphasized the importance of this acquisition as another crucial step in the company’s ongoing growth and consolidation trajectory. He highlighted its strategic value.
“Increasing our equity interest in ND Western reinforces Aradel’s position as a leading indigenous integrated energy company and enhances our ability to drive long-term value for shareholders through scale, operational efficiency, and portfolio optimization,” stated Mr. Falade, underscoring the strategic advantages gained.
Aradel has confirmed that all necessary regulatory approvals were secured for this transaction. This includes endorsements from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Competition and Consumer Protection Commission (FCCPC), ensuring full compliance with all applicable governance and disclosure requirements.
The completion of this acquisition by Aradel Holdings Plc in ND Western signifies a major step in strengthening its upstream oil and gas capabilities in Nigeria, promising enhanced operational performance and shareholder value.
