- Aradel Holdings rebranded from Niger Delta Exploration and Production.
- The firm plans to introduce new verticals of business lines in the renewables and reposition as a key player in Nigeria’s energy security agenda.
Aradel Holdings, a multinational energy company in Nigeria, has unveiled plans to acquire additional assets in the renewable energy space. The firm stated this at the first hybrid 28th Annual General Meeting (AGM) after it rebranded from Niger Delta Exploration and Production.
The Managing Director/Chief Executive Officer of Aradel Holdings, Mr Adegbite Falade, stated that the company plans to bring onstream production from Omerelu and the PMS unit of the Refinery, acquire additional assets, introduce new verticals of business lines in the renewables, skilfully navigate the energy transition challenge, and be a key player in Nigeria’s energy security agenda.
Speaking on the company’s future aspirations, he expressed enthusiasm over sustaining the company’s bright future both in the near and longer term. “We will sustain the company’s bright future as we build on current momentum to deliver on the growth aspirations of scaling up in Ogbele (our flagship asset).”
Other crucial resolutions approved during the meeting include the ratification of Ms Patricia Simon-Hart as an Independent Non-Executive Director, the re-appointment of the External Auditors and the re-election of the company’s Statutory Audit Committee.