Aradel Holdings Plc, the Nigerian energy group led by Adegbite Falade, has become the largest shareholder in Renaissance Africa Energy Consortium with a 53.3 percent stake. The change follows the completion of a 250 million purchase of an additional 40 percent interest in ND Western, increasing Aradels ownership to 81.67 percent from 41.67 percent.
The larger stake reshapes control at Renaissance, a consortium formed in March 2025 after Shell sold Shell Petroleum Development Company of Nigeria assets to five local firms: ND Western, Aradel Holdings, Waltersmith Petroleum Development Company, First E P and Petrolin Trading Company. With the increase, Aradel gains effective control of assets previously operated by Shell in Nigerias onshore and shallow-water fields.
Debt-funded deal gives Aradel control
