Aradel Holdings Plc (NGX: ARADEL) has announced that its wholly owned subsidiary, Aradel Energy Limited, has entered into a definitive agreement to acquire an additional 40% equity interest in ND Western Limited (NDW) from Petrolin Trading Ltd.
The transaction, once completed, will significantly increase Aradel’s stake in ND Western, where it already holds a 41.67% ownership interest. This move will consolidate Aradel’s strategic position as a key player in Nigeria’s upstream oil and gas industry.
ND Western Limited holds a 45% participating interest in Oil Mining Lease (OML) 34, a major producing field located in the Western Niger Delta. The block hosts significant crude oil and associated gas reserves that contribute to Nigeria’s domestic energy supply and export revenues.
In addition to its OML 34 interest, ND Western owns 50% of Renaissance Africa Energy Holding Company Ltd, the parent company of Renaissance Africa Energy Company Limited, which operates the Renaissance Joint Venture — a growing force in the African energy sector.
According to Aradel, the completion of the transaction is subject to regulatory approvals from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Competition and Consumer Protection Commission (FCCPC), and the Minister of Petroleum Resources.
Founded in 1992 and listed on the Nigerian Exchange in October 2024, Aradel Holdings Plc — formerly known as Niger Delta Exploration & Production Plc — is an integrated energy group with operations spanning exploration, production, refining, and distribution. The company rebranded in 2023 to reflect its broader energy focus and long-term growth ambitions.
This latest acquisition marks a major step in Aradel’s expansion strategy, positioning it to capture greater value from Nigeria’s upstream assets and strengthen its footprint in the domestic energy landscape.
It’s equity price closed at N790.00 per share today, gaining 6.76%. It started the week at N640 per share.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
