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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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8 Agritech innovations improving food security in Nigeria

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Agritech solutions are helping farmers improve crop yields, reduce losses, and promote sustainable practices. Modern tools enable better field monitoring, efficient water management, and enhanced market access.

These breakthroughs play a crucial role in ensuring food availability and stability in a challenging economic landscape. The following 8 breakthroughs illustrate how technology is changing farming practices and supporting food security.

These advancements not only improve efficiency and reduce costs but also strengthen rural economies and empower communities to achieve greater agricultural success.

1) Precision agriculture

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Farmers now use satellite imaging and field sensors to obtain detailed information on soil conditions, crop health, and nutrient levels. This information enables precise application of water, fertilizers, and pesticides, leading to improved yields and reduced waste.

2) Mobile advisory services

Digital platforms deliver timely information on weather, pest outbreaks, and best farming practices directly to farmers’ phones. This real-time guidance helps them make informed decisions and manage resources effectively.

3) Drone-Based crop monitoring

Drones capture high-resolution images of large fields, enabling farmers to quickly identify problem areas such as disease or water stress. This technology allows for targeted interventions and saves both time and resources.

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ALSO READ: Agritech start-up seeks to tackle Nigeria’s food crisis

4) Data analytics for yield prediction

By analysing historical data and current conditions, farmers can predict crop yields more accurately. This insight helps optimise planting schedules and resource allocation, ensuring better planning and reducing the risk of losses.

5) IoT-Enabled smart irrigation

Internet-connected sensors and automated irrigation systems monitor soil moisture levels and adjust water delivery accordingly. These systems ensure efficient water use, reducing waste and enhancing crop growth even in water-scarce conditions.

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6) Mechanisation and automation

The introduction of modern machinery for planting, harvesting, and processing improves productivity and consistency. Automation reduces labor requirements and helps farmers manage large-scale operations more efficiently.

7) Digital supply chain platforms

Online platforms connect farmers directly with buyers and distributors, streamlining the supply chain. This direct access reduces post-harvest losses, ensures fair pricing, and improves market reach for small-scale farmers.

8) Renewable energy integration

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Solar panels and wind turbines are increasingly used to power farm operations, reducing reliance on inconsistent grid power. Renewable energy solutions lower operational costs and support sustainable, year-round agricultural practices.

These agritech breakthroughs illustrate the positive impact of technology on Nigeria’s agricultural sector. As these solutions become more widely adopted, farmers can boost production, lower expenses, and secure a steady food supply. Continued support and investment in these technologies will pave the way for a more resilient and prosperous agricultural future.

EXPLORE: 500 Startups, Ingressive checkout Lagos’s most promising hardware tech


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World Cup Qualifiers: Ejuke backs Super Eagles ahead of Rwanda and Zimbabwe showdown

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Chidera Ejuke

Nigerian winger Chidera Ejuke has thrown his support behind the Super Eagles ahead of their crucial double-header 2026 FIFA World

read more World Cup Qualifiers: Ejuke backs Super Eagles ahead of Rwanda and Zimbabwe showdown


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Interswitch Champions Seamless Digital Payments for Hospitality Sector at Mega HORECA Expo 2025

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Interswitch , one of Africa’s leading digital payment and commerce companies, showcased its cutting-edge innovations at the Mega HORECA Expo 2025, which was held at the Balmoral Convention Center in Victoria Island, Lagos from the 26th to 28th of February.

The event attracted business owners, hospitality stakeholders, and industry leaders looking to enhance service delivery and operational efficiency, ultimately elevating the world-class hospitality experience.

Organized by Elan Expo, this premier event for the Hotel, Restaurant, and Café (HORECA) industry featured a diverse range of products from both local and international markets, serving as a strategic platform for networking, fostering partnerships, and driving business expansion across the West African hospitality sector.

During the three-day exhibition, Interswitch showcased a robust suite of innovative payment solutions tailored to meet the dynamic needs of the hospitality industry. The Interswitch Smart POS, designed for fast-paced hospitality environments, enables seamless transactions for guest check-ins, restaurant billing, and payment acceptance, enhancing operational efficiency while ensuring customer satisfaction.

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The Interswitch Payment Gateway enables hotels and restaurants to offer frictionless online booking and reservation experience while also streamlining takeaway orders through secure and swift digital transactions. Also, the Interswitch Disbursement solution (Autopay) simplifies bulk payment processing, allowing businesses to efficiently manage vendor payments, staff salaries, and supplier settlements with accuracy.

 In addition, the Till Integration solution ensures seamless synchronisation between POS systems and tills, eliminating manual errors and transaction delays, thereby further enhancing overall operational efficiency. The company’s solutions attracted strong interest from industry professionals at the event. At the Interswitch booth, visitors experienced live demonstrations, gaining firsthand insights into how these solutions can optimise business operations and enhance service delivery.

Speaking on the company’s participation, Muyiwa Asagba, Managing Director, Commercial Inclusion at Interswitch, highlighted the significance of the event in driving industry innovation:

The International MEGA HORECA 2025 was a fantastic opportunity to showcase how our solutions are reshaping payment experiences in the hospitality sector. The engagement with industry stakeholders reinforced the growing demand for seamless, technology-driven payment systems that enhance efficiency and customer satisfaction. At Interswitch we are committed to delivering innovative solutions that not only simplify transactions but also empower businesses to scale and thrive in an evolving digital landscape.

Osasere Atohengbe, Vice President, Sales and Account Management for Commercial Inclusion at Interswitch, added:

We are delighted by the overwhelming response our solutions received at the International MEGA HORECA 2025 expo. The event provided a valuable opportunity to engage with hospitality professionals, understand their evolving needs, and showcase how our solutions can transform their businesses. From seamless payment acceptance to operational efficiency, our technology is designed to enhance customer experience while driving revenue growth for merchants. By leveraging insights gained at the event, we remain committed to delivering solutions that not only meet industry standards but also anticipate and address the future needs of the hospitality and food service sectors.

Overall, the Mega HORECA Expo 2025 highlighted the burgeoning potential of Nigeria’s hospitality market, offering a comprehensive showcase of products and services designed to elevate the standards of the industry across the continent.

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Interswitch’s participation at the Mega HORECA Expo 2025 underscores its commitment to transforming the hospitality experience through seamless digital payments. By equipping businesses with cutting-edge solutions that drive efficiency, enhance guest satisfaction, and optimise financial operations, Interswitch is setting new industry standards and redefining the future of digital transactions in the hospitality sector.

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