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Acquisition of Shell Petroleum Development Company of Nigeria (SPDC) Completed

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Aradel Holdings Plc (’’Aradel’’), listed on the Nigerian Exchange Limited, is pleased to announce that the landmark acquisition of the entire (100%) equity holding in the Shell Petroleum Development Company of Nigeria (SPDC) by Renaissance Africa Energy Holdings (Renaissance) has been completed following the signing of a sale and purchase agreement with Shell in January 2024, and the subsequent receipt of  all regulatory approvals required for the transaction. 

Renaissance is a consortium consisting of Aradel Holdings PLC and three (3) other Nigerian independent oil and gas companies: ND Western Limited, FIRST Exploration and Petroleum Development Company Limited and the Waltersmith Group, each with considerable operations experience in the Niger Delta, and Petrolin, an international energy company with global trading experience and a pan African outlook. 

We are proud of Renaissance’s completion of this strategic acquisition and extremely grateful to the Federal Government for entrusting us with the opportunities and responsibilities that this historic acquisition presents. 

Aradel’s equity investment in Renaissance marks a significant step in the ongoing transformation journey of the company and demonstrates its commitment to asset diversification, and the creation of long-term value for its shareholders and stakeholders.

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Adegbite Falade, MD/CEO of Aradel Holdings, commented on the completion of the acquisition, saying, 

This is a landmark moment for Nigeria’s energy sector and heralds a new era for local participation. It highlights the vital role that indigenous energy companies play in Nigeria’s industrialisation and development. As the leading integrated indigenous energy company in Nigeria with a proven track record of twenty (20) years, we remain dedicated to upholding global standards and maintaining operational excellence.

We extend our appreciation to the Honourable Minister of Petroleum Resources, the CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the GCEO of the Nigerian National Petroleum Company Limited (NNPCL) for their foresight and belief in paving the way for the completion of this transaction. This will surely facilitate the rapid development of Nigeria’s vast oil and gas resources, further paving the way for the Country to achieve energy security and industrial development.

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Healthcare breakthroughs transforming wellbeing in Nigeria

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Advances in technology and improved practices in disease management are resulting in better treatment options and expanded access to care. Recent progress in telemedicine, diagnostics, and local pharmaceutical production are contributing to more reliable and effective health services.

Government and private sector initiatives are working together to address long-standing challenges such as funding and infrastructure.

As these improvements continue to develop, the overall quality of care rises, benefiting patients across urban and rural areas. This guide examines 5 areas where advances shape wellbeing in Nigeria.

ALSO READ: India to invest in Nigeria’s healthcare sector

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  • Telemedicine and Remote Consultations

    Telemedicine services are expanding access to healthcare in both urban and rural settings. Remote consultations via video calls and mobile applications allow patients to receive timely medical advice without the need for travel. This development eases pressure on physical healthcare facilities and improves service delivery, particularly in areas with limited medical infrastructure.

  • Enhanced Diagnostic Technologies

    Recent improvements in diagnostic equipment and testing methods have led to quicker and more accurate detection of diseases. Locally developed diagnostic kits are now more affordable and accessible, enabling early intervention for conditions such as malaria, diabetes, and hypertension. These enhancements contribute to better treatment outcomes and improved public health management.

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  • Growth in Local Pharmaceutical Production

    There is a strong move toward increasing the production of essential medicines within Nigeria. By investing in local manufacturing, the healthcare system reduces its reliance on imported drugs, lowers costs, and ensures a steadier supply of quality medications. This focus on domestic production supports treatment efficacy and contributes to overall health system resilience.

EXPLORE: Medical expert warns bottled water, soft drinks left in sun may cause cancer

  • Healthcare System Reforms

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    Government initiatives are actively working to improve healthcare delivery through reforms aimed at strengthening infrastructure, increasing funding, and expanding insurance coverage. These measures target persistent challenges such as workforce shortages and inadequate primary care facilities, leading to a more efficient and accessible healthcare system for all Nigerians.

  • Public-Private Partnerships in Health

    Collaborative efforts between government bodies and private organizations are driving improvements in healthcare services. Joint investments in training, research, and infrastructure development have enhanced service quality and extended reach. These partnerships foster a shared commitment to sustainable healthcare improvements, benefiting communities nationwide.

Collectively, these developments enhance healthcare delivery and ensure better access to effective and affordable care for Nigerians. Continued support for these initiatives is essential for achieving long-term improvements in public health.

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RECOMMENDED: FULL LIST: FG approves free maternal care in 154 hospitals nationwide


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Pastor Enenche leads prayers of divine intervention as Soludo seeks religious leaders’ support

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Paul Enenche, the senior pastor of Dunamis International Gospel Centre, is leading prayers of divine intervention in Anambra state as

read more Pastor Enenche leads prayers of divine intervention as Soludo seeks religious leaders’ support


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How academic excellence is driving entrepreneurship in Nigeria

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Graduates are applying what they learn to create small businesses that generate jobs and support local communities. Universities and polytechnics now focus on hands-on training, mentorship programs, and research projects that develop practical solutions.

This approach bridges classroom learning and real-world business, enabling young entrepreneurs to address local challenges.

The emphasis on quality education and structured support is closely linked to growing entrepreneurial activity and economic progress.

ALSO READ: Here’s how Nigerian entrepreneurs can access international markets

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  • Curriculum and Practical Training

    Academic programs now merge rigorous theory with extensive practical training. Courses in business, technology, and related fields incorporate hands-on projects, case studies, and fieldwork that equip students with essential skills in business planning, operations, and management. This approach ensures that graduates are well-prepared to address real-world challenges.

  • Incubation and Mentorship Programs

    Many institutions have established startup centers and comprehensive mentorship schemes. These initiatives connect aspiring entrepreneurs with experienced industry professionals who offer guidance on strategy, business development, and risk management.

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    By providing structured support and networking opportunities, these programs help transform innovative ideas into viable business models.

  • Research and Local Solutions

    Universities are increasingly directing research efforts toward solving local challenges. Collaborative projects between students, faculty, and community partners generate actionable insights that lead to practical products and services.

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    This focus on research not only enhances academic understanding but also produces tangible benefits for local markets.

EXPLORE: 7 Powerful tips to empower Nigeria’s rising women entrepreneurs

  • Industry-Academia Partnerships

    Stronger collaboration between educational institutions and industry leaders ensures that academic training aligns with market demands.

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    Internships, cooperative education programs, and joint research projects expose students to real business challenges, facilitating the seamless transfer of knowledge and skills from the classroom to the workplace.

  • Funding and Startup Support

    Access to financial resources is vital for launching successful ventures. Universities, in partnership with government bodies and private investors, offer grants, low-interest loans, and business development workshops.

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    This support helps new entrepreneurs overcome early-stage hurdles, enabling them to build sustainable businesses that contribute to economic growth.

These approaches show how academic excellence is driving entrepreneurship in Nigeria. By combining practical training, mentorship, research, industry partnerships, and funding support, educational institutions are preparing graduates to tackle real business challenges and boost economic progress.

This focused effort strengthens the entrepreneurial ecosystem and supports long-term growth and community development across the country.

RECOMMENDED: 7 best countries for Nigerians looking to start a business abroad

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