By Ali Elias
Aradel Holdings Plc has strengthened its foothold in Nigeria’s upstream oil and gas sector with the completion of its acquisition of an additional 40 per cent equity stake in ND Western Limited, consolidating its position among leading indigenous energy companies.
In a regulatory filing released on the Nigerian Exchange on Wednesday, Aradel said the transaction was executed through its wholly owned subsidiary, Aradel Energy Limited, after fulfilling all regulatory and contractual conditions precedent. The acquisition was first announced on October 24, 2025.
With the deal completed, Aradel Energy Limited’s shareholding in ND Western increased from 41.67 per cent to 81.67 per cent, effectively making ND Western a subsidiary of Aradel Energy.
The transaction also resulted in a material increase in Aradel’s indirect shareholding in Renaissance Africa Energy Company Limited, rising from 33.3 per cent to 53.3 per cent, further expanding its exposure to producing assets in the Niger Delta.
ND Western holds a 45 per cent participating interest in Oil Mining Lease 34, a producing asset located in the Western Niger Delta. The company also owns 50 per cent of the share capital of Renaissance Africa Energy Holding Company Limited, the parent company of Renaissance Africa Energy Company Limited, operator of the Renaissance Joint Venture.
According to Aradel, the acquisition aligns with its long-term strategy of disciplined portfolio consolidation, asset expansion and sustainable value creation, while improving operational scale, efficiency and resilience across its asset base.
Commenting on the transaction, Aradel Holdings’ Chief Executive Officer, Adegbite Falade, described the deal as another milestone in the company’s growth trajectory.
“The completion of this acquisition represents a further step in the execution of our growth and consolidation strategy. 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,” Falade said.
The company added that the transaction was concluded after securing all required regulatory approvals, including those of the Nigerian Upstream Petroleum Regulatory Commission and the Federal Competition and Consumer Protection Commission.