Aradel Holdings Plc, a Nigerian energy firm, said on Wednesday that its subsidiary, Aradel Energy Limited, has signed a definitive agreement to acquire an additional 40% equity interest in ND Western Limited (NDW) from Petrolin Trading Ltd.
The move will boost Aradel’s total stake in NDW to 81.67%, strengthening its position in Nigeria’s upstream oil and gas market and deepening local participation in the energy value chain. Aradel described the acquisition as a “strategic step to enhance long-term value and national energy security.”
The company, in a statement seen by ETP, noted that ND Western holds a 45% participating interest in OML 34, a producing Oil Mining Lease in the Western Niger Delta, which contributes significantly to Nigeria’s domestic gas supply and oil exports.
According to industry estimates, OML 34 accounts for approximately 10% of Nigeria’s gas-to-power feedstock, supplying critical infrastructure, including the Utorogu Gas Plant and the Trans-Forcados Pipeline.
ND Western also owns 50% of Renaissance Africa Energy Holding Company Ltd, which controls Renaissance Africa Energy Company Limited, the operator of the Renaissance Joint Venture—a key player in Nigeria’s transition towards cleaner energy.
With the acquisition, Aradel’s influence in this strategic partnership is set to deepen, positioning it as one of the country’s most integrated energy companies with interests spanning upstream, midstream, and downstream operations.
Completion of the transaction is still subject to regulatory approvals from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Competition and Consumer Protection Commission (FCCPC), and Ministerial Consent.
Aradel’s Chief Financial Officer, Adegbola Adesina, who arranged the release of the statement, said “the company remains confident that the approvals will be secured soon, enabling full integration before the first half of 2026.”
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