Aradel Holdings Plc said its owned subsidiary, Aradel Energy Limited has entered into a definitive agreement to acquire a 40 per cent equity interest in ND Western Limited from Petrolin Trading Limited.
The company stated that, Aradel Energy currently owns 41.67 per cent of NDW, saying, upon completion of this transaction, Aradel’s total shareholding in NDW will significantly increase, reinforcing its strategic position within Nigeria’s upstream oil and gas sector.
According to the company, NDW holds a 45 per cent participating interest in OML 34, a producing Oil Mining Lease located in the Western Niger Delta. OML 34 contains material crude oil and associated gas reserves contributing to Nigeria’s domestic energy supply and exports.
“In addition, NDW owns 50 per cent of the share capital of Renaissance Africa Energy Holding Company Ltd, the parent company of Renaissance Africa Energy Company Limited which operates the Renaissance Joint Venture.
“Completion of the Transaction remains subject to necessary regulatory approvals from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Competition and Consumer Protection Commission (FCCPC) and Ministerial Consent,” it said.
Aradel Holdings recorded a month-to-date gain of 9.24 per cent in October and a year-to-date return of 12.34 per cent, outperforming the NGX Oil and Gas Index, which is up 0.76 per cent year-to-date.
The stock began 2025 at N598 but fell consecutively from January through early Q2, reaching a low of N448.00 in April.
From May, possibly driven by news of federal government reforms, the stock rebounded with an 18.3 per cent gain. Although it experienced minor declines in June and August, bullish momentum intensified in September, pushing the price above N600 to close at N615.
October has sustained this upward trend, with the stock rising 9.24 per cent to N671.80 as of the close of trading on October 21, 2025.
