By Yange Ikyaa
Nigeria’s first integrated indigenous energy company, the Niger Delta Exploration & Production Plc, today in Lagos officially announced its name change to Aradel Holdings Plc as part of a strategic rebranding initiative aimed at better reflecting the Company’s current portfolio and positioning it for future growth.
As part of this rebranding effort, a fresh corporate identity was also unveiled across all company platforms.
The decision to change the Company’s name and identity, according to the company, underscores its commitment to repositioning itself as a leading African company, dedicated to providing sustainable energy solutions that drive economic growth now and in the foreseeable future.
Speaking at the official unveiling, the Managing Director of the company Mr. Gbite Falade said that part of the future growth plans for the company is for its shares to be listed and traded on the Nigerian Exchange and foreign bourse, thereby throwing the company’s ownership open to more Nigerians and easing the path of the company to raising capital and gaining higher notability.
Although not yet listed on the Nigerian Stock Exchange, Aradel’s shareholders in excess of 1000, come from every geo-political zone in the country.
“The dream of our founding fathers is for every Nigerian to have a say in this business and by extension have a stake in the ownership” Mr Falade said adding that going public will give the company access to significant capital to further grow its footprints.
Valuechain reports that the listing could become a significant milestone for the 31 year old company in the journey of its growth and development, enabling it to raise capital while strengthening its structure and reputation.
The event brought together captains of industries, regulators and heavyweights in the energy industry.
Board Chairman of Aradel, Mr. Ladi Jadesimi in his welcome remark said as an innovative and visionary Company, Aradel has become the foremost fully integrated operating Company in Nigeria, adding “Our new name, Aradel Holdings Plc, acknowledges our rich history and builds on the tremendous value added to our Company as we position ourselves for future opportunities in the energy space.”
In his goodwill message, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB) Engr. Simbi Wabote said that apart from pioneering several upstream, midstream and downstream projects, particularly modular refining in Nigeria, Aradel remained one of the poster child of NCDMB.
While pledging the continuous support and collaboration of the Board towards the company, he said, “The onus is on Aradel to protect and enhance local content to grow our oil and gas sector. Nigerians will be looking up to you, I expect that Aradel will play an active role and protect local content in Nigeria”
