Aradel Holdings Plc, a leading indigenous integrated energy company, announced that its wholly-owned subsidiary, Aradel Energy Limited, has completed the acquisition of an additional 40% equity interest in ND Western Limited (NDW), following the fulfilment of all regulatory and contractual conditions.

The deal, first disclosed on October 24, 2025, increased Aradel Energy’s stake in NDW from 41.67% to 81.67%, making NDW a subsidiary of Aradel Energy Limited.

The acquisition also boosted Aradel’s indirect ownership in Renaissance Africa Energy Company Limited from 33.3% to 53.3%, further consolidating its influence in the company. NDW holds a 45% participating interest in OML 34, a producing Oil Mining Lease in the Western Niger Delta, and owns 50% of Renaissance Africa Energy Holding Company Ltd, which operates the Renaissance Joint Venture.

Commenting on the acquisition, Aradel Holdings CEO, Adegbite Falade, said the move aligns with the company’s long-term strategy of portfolio consolidation, asset base expansion, and sustainable value creation.

“The completion of this acquisition strengthens Aradel’s position in Nigeria’s upstream oil and gas sector, enhances operational scale, and supports improved efficiency and resilience across our asset portfolio,” Falade said.

The transaction received all necessary regulatory approvals, including from the Nigerian Upstream Petroleum Regulatory Commission and the Federal Competition & Consumer Protection Commission, and complies with all governance and disclosure requirements.