Aradel acquired further 40% stake in ND Western

Aradel Holdings Plc has accomplished the acquisition of an extra 40 per cent fairness curiosity in ND Western Restricted, strengthening its place in Nigeria’s upstream oil and fuel sector.

In a press release launched on the Nigerian Trade on Wednesday, the corporate stated the transaction was executed by its wholly owned subsidiary, Aradel Vitality Restricted, following the fulfilment of all regulatory and contractual circumstances precedent. The deal was initially introduced on 24 October 2025.

With the completion of the acquisition from Petrolin Buying and selling Ltd, Aradel Vitality Restricted’s shareholding in ND Western elevated from 41.67 per cent to 81.67 per cent, making ND Western a subsidiary of Aradel Vitality Restricted.

The transaction additionally resulted in a cloth enhance in Aradel’s oblique shareholding in Renaissance Africa Vitality Firm Restricted. Aradel stated its combination possession within the firm rose from 33.3 per cent to 53.3 per cent following the deal.

ND Western holds a forty five per cent collaborating curiosity in Oil Mining Lease 34, a producing asset positioned within the Western Niger Delta.

The corporate additionally owns 50 per cent of the share capital of Renaissance Africa Vitality Holding Firm Restricted, the guardian firm of Renaissance Africa Vitality Firm Restricted, which operates the Renaissance Joint Enterprise.

Aradel stated the acquisition aligns with its long-term technique of disciplined portfolio consolidation, asset base enlargement and sustainable worth creation, whereas enhancing operational scale, effectivity and resilience throughout its asset portfolio.

Commenting on the transaction, the Chief Government Officer of Aradel Holdings Plc, Adegbite Falade, stated the deal marked one other milestone within the firm’s development plans.

“The completion of this acquisition represents an extra step within the execution of our development and consolidation technique. Rising our fairness curiosity in ND Western reinforces Aradel’s place as a number one indigenous built-in vitality firm and enhances our capability to drive long-term worth for shareholders by scale, operational effectivity and portfolio optimisation,” he stated.

The corporate famous that the transaction was accomplished after acquiring all required regulatory approvals, together with approvals from the Nigerian Upstream Petroleum Regulatory Fee and the Federal Competitors and Shopper Safety Fee.

Aradel Holdings Plc, previously often known as Niger Delta Exploration and Manufacturing Plc, is listed on the Fundamental Board of the Nigerian Trade beneath the ticker image ARADEL.