Aradel Holdings To Acquire Additional 40% Stake in ND Western Limited

Aradel Holdings Plc has announced that its wholly owned subsidiary, Aradel Energy Limited, has entered into a definitive agreement to acquire an additional 40 per cent equity interest in ND Western Limited (NDW) from Petrolin Trading Ltd.

According to the company in a notice to the NGX seen by THE WHISTLER, the transaction, upon completion, will raise Aradel Energy’s total shareholding in ND Western to 81.67 per cent from the current 41.67 per cent, marking a major strategic move that consolidates Aradel’s influence in Nigeria’s upstream oil and gas industry.

ND Western is a key player in Nigeria’s energy landscape, holding a 45 per cent participating interest in Oil Mining Lease (OML) 34, a producing asset located in the Western Niger Delta. OML 34 hosts significant crude oil and associated gas reserves that play a crucial role in supporting Nigeria’s domestic energy needs as well as its export commitments.

In addition to its core upstream asset, ND Western also holds a 50 per cent equity stake in Renaissance Africa Energy Holding Company Ltd, the parent company of Renaissance Africa Energy Company Limited, which operates the Renaissance Joint Venture, an initiative that underscores ND Western’s participation in integrated energy operations across the region.

Aradel Holdings described the planned acquisition as part of its long-term strategy to enhance operational efficiency, expand production capacity, and strengthen its footprint in Nigeria’s energy value chain.

The company noted that the investment would also enhance its exposure to gas development and power generation opportunities, aligning with national objectives of boosting domestic gas utilisation.

However, the company stated that the completion of the transaction remains subject to regulatory approvals, including clearance from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Competition and Consumer Protection Commission (FCCPC), and the Ministerial Consent in line with industry regulations.

Industry analysts view the move as a signal of Aradel’s growing ambition to become one of Nigeria’s leading integrated energy groups, particularly as the country pushes to attract private capital into upstream and midstream energy projects.

The acquisition, once approved, is expected to further diversify Aradel’s revenue base, strengthen its asset portfolio, and improve its capacity to deliver sustainable energy solutions in Nigeria and across the region.