Aradel Holdings Plc has announced a binding agreement to acquire an additional 40% equity stake in ND Western Limited from Petrolin Trading Ltd.
A corporate disclosure filed with the NGX on Friday revealed that the agreement was routed through its fully owned subsidiary, Aradel Energy Limited, positioning the indigenous energy group for greater dominance in crude oil and gas operations across the Western Niger Delta.
Aradel Energy Limited, which already commands a 41.67% stake in ND Western, will see its total equity rise significantly on completion of the transaction. This expansion promises to elevate Aradel’s operational leverage in one of the most strategic upstream portfolios in the country.
ND Western holds a 45% participating interest in Oil Mining Lease 34 (OML 34), a high-value producing asset known for substantial crude oil volumes and sizeable associated gas reserves.
The block plays a crucial dual role, both bolstering national energy exports and serving the domestic gas supply chain that fuels power infrastructure and industrial operations.
The move showcases Aradel’s long-term commitment to energy security, value creation for shareholders, and increased Nigerian ownership in the petroleum sector.
Renaissance JV stake offers additional growth pathways
Beyond the OML 34 interest, ND Western owns 50% of Renaissance Africa Energy Holding Company Limited, the parent of Renaissance Africa Energy Company Limited, operator of the Renaissance Joint Venture. This JV continues to grow its operational footprint and could become a key engine of mid-to-long-term value for Aradel.
Market watchers argue that consolidating ND Western equity locks in a stronger position for Aradel within the broader Renaissance network, particularly as gas monetisation and infrastructure-driven opportunities attract fresh investment interest. The acquisition could accelerate Aradel’s play in Nigeria’s evolving gas-focused economy, where policy increasingly favors transition-linked fuels with cleaner emissions profiles.
The company, known for a disciplined capital allocation strategy, appears poised to exploit synergies while strengthening indigenous technical capacity in upstream operations.
Regulatory approvals remain
The consummation of the transaction remains subject to regulatory consents, including those of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Competition and Consumer Protection Commission (FCCPC) and ministerial approval under the laws governing upstream transactions.
Aradel Holdings reaffirmed its confidence in the approval process, noting that all procedural requirements are underway to ensure compliance with statutory frameworks protecting competitive balance and national petroleum interests.
Chief Financial Officer Adegbola Adesina, who is responsible for the announcement’s release, stated that the acquisition aligns fully with Aradel’s corporate vision for sustained portfolio optimisation, value enhancement and national energy advancement.
The transaction signals a new upward trajectory for Aradel as it reinforces its foundation in Nigeria’s hydrocarbon future, sharpening its influence in oil and gas development at a time when local participation is increasingly vital.
