Aradel Holdings Plc has significantly bolstered its footprint in Nigeria’s upstream oil and gas sector with the acquisition of an additional 40 per cent equity interest in ND Western Limited. The move increases the company’s total stake in ND Western to 81.67 per cent, effectively making the firm a subsidiary of Aradel’s energy arm.
The transaction, executed through Aradel Energy Limited, the company’s wholly owned subsidiary, follows the fulfillment of all regulatory and contractual conditions. The deal, initially announced on October 24, 2025, was completed after obtaining approvals from the Nigerian Upstream Petroleum Regulatory Commission and the Federal Competition and Consumer Protection Commission.
The acquisition from Petrolin Trading Ltd also significantly raises Aradel’s indirect shareholding in Renaissance Africa Energy Company Limited, lifting its ownership from 33.3 per cent to 53.3 per cent. ND Western itself holds a 45 per cent participating interest in Oil Mining Lease 34, a producing asset in the Western Niger Delta, while Aradel’s broader portfolio includes a 50 per cent stake in Renaissance Africa Energy Holding Company Limited, the parent company of Renaissance Africa Energy Company Limited, operator of the Renaissance Joint Venture.
Aradel Holdings said the acquisition is part of a broader strategy aimed at portfolio consolidation, asset expansion, and sustainable value creation. The company highlighted that the transaction will enhance operational scale, efficiency, and resilience across its portfolio.
Adegbite Falade, Chief Executive Officer of Aradel Holdings, described the acquisition as a key milestone in the company’s growth trajectory. “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 optimisation,” he said.
Aradel Holdings Plc, formerly known as Niger Delta Exploration and Production Plc, is listed on the Main Board of the Nigerian Exchange under the ticker symbol ARADEL.