NEWS
Why we Listed N4.34bn Shares on NGX – Aradel Holdings

Aradel Holdings Plc, on Monday, said it listed on the Main Board of the Nigerian Exchange Ltd.(NGX) to leverage the capital market for future growth and expand its operations.
Mr Adegbite Falade, Managing Director of Aradel, said this at the Facts Behind the Listing of the integrated energy company and Closing Gong Ceremony to commemorate its listing at the NGX in Lagos.
Report says that Aradel listed 4.
34 billion shares on the NGX Main Board at N702.69 per share with a nominal value of 50k each, through a listing by introduction.This boosted the market capitalisation of the NGX by N3.05 trillion, marking a significant milestone in the oil and gas sector’s participation in the stock market.
The listing followed the company’s recent announcement that it has signed a Sale and Purchase Agreement with global energy giant TotalEnergies and the Nigerian National Petroleum Company (NNPC).
This is to acquire a 100 per cent interest in the Olo and Olo West marginal fields, located onshore in Nigeria.
Falade said the listing cemented the role of the firm as a dominant player in both traditional and renewable energy sectors.
The managing director stated that the listing was also a testament to the company’s resilience, adaptability, and unwavering dedication.
This, he added, was to provide sustainable energy solutions that drive growth across communities and industries.
He said: “This will mark a historic milestone for Aradel, underscoring our commitment to creating long-term value for our shareholders and deepening our contributions to Nigeria’s economic landscape.
“As we embark on this new chapter in Aradel’s transformation journey, we remain focused on operational excellence, strategic expansion, and delivering returns that reflect our track record and vision for an energised future.”
Likewise, Mr Ladi Jadesimi, the Chairman of Aradel Holdings, said that Aradel aims to expand its footprint in the renewable space while maintaining leadership in the oil and gas sector.
“The listing of Aradel Holdings on NGX represents a pivotal moment for us and provides us with the platform to unlock further value for our shareholders.
“We are committed to driving sustainable growth in Nigeria’s energy industry, particularly in the renewables space, while continuing to excel in petroleum product exploration and refining,”he said.
Commenting, Alhaji Umaru Kwairanga, Chairman, Nigerian Exchange Group, said the Exchange was honoured to facilitate capital raising for companies like Aradel that play a critical role in Nigeria’s economic progress.
Kwairanga noted that the achievement of the listing was not just a win for Aradel, but a clear indication to both local and global investors that Nigeria’s capital market remains vibrant, resilient, and full of opportunities.
Also, Mr Temi Popoola, Group Managing Director, NGX Group, said that the listing of an equity for the upstream sub-sector of the oil and gas industry is significant and beneficial.
Popoola noted that this was also crucial in the light of its dire capital requirements and chronic underinvestment.
“Aradel has come to the market at a critical time as this and we are confident that our infrastructure here at NGX, both market and technology, can unlock the capital flows needed to ensure the sector thrives,” he said.
Mr Jude Chiemeka, Chief Executive Officer (CEO) of NGX, also said Aradel’s listing highlighted NGX’s ability to support leading companies in their growth journey.
Chiemeka said, “This is not just a milestone for Aradel, but a key moment for the energy sector, demonstrating how the capital market could fuel efficiency and development in critical industries.
Aradel Holdings is one of the major player in Nigeria’s oil and gas industry, and operates across the entire oil and gas value chain, with business interests in the exploration, production and refining of petroleum products.(NAN)
NEWS
Robust Capital Market Crucial for Nigeria’s Economic Prosperity- NGX Chairman

Chairman, Nigerian Exchange Group, Dr Umaru Kwairanga, says the Nigerian Capital Market has experienced exponential growth since he assumed office in 2022.He reiterated the group’s commitment to deepening Nigeria’s capital market in alignment with President Bola Tinubu’s vision of growing the nation’s GDP to one trillion dollars by 2030.
In a statement issued in Lagos, Kwairanga was said to have made the remarks while delivering a keynote address at the “For the Love of Our Country (FLOC) 2025” symposium, held at Bayero University Kano (BUK) on Friday. He spoke on the theme, “Reimagining Nigeria’s Economy for a Prosperous Future: Where We Were, Where We Are, and Where We Should Be in the Next Decade”.According to him, the All Share Index (ASI) rose from 48,837 basis points to 111,742 basis points, while market capitalisation grew from N26.375 trillion to N70.463 trillion by May 2025.He said that bond markets were included with total market capitalisation now at over N121 trillion.“This growth shows that we have more than doubled the indices of both our equity and bond markets in just over two years.“However, our goal is even more ambitious as we work towards making the capital market central to achieving a $1 trillion economy,”he said.Kwairanga emphasised the strategic importance of a robust capital market in financing long-term infrastructure, encouraging formalisation of businesses, and mirroring the nation’s true economic potential.He noted with concern that Nigeria’s market capitalisation remains less than 20 per cent of Nigeria’s GDP, compared to South Africa’s Johannesburg Stock Exchange which exceeds its national GDP.To address this, he outlined several initiatives being undertaken by NGX Group and its regulators, particularly the Securities and Exchange Commission (SEC), to enhance market transparency and efficiency.He said these include the dematerialisation of share certificates, resolution of unpaid dividend backlogs, and the recent reduction in clearing time for secondary market transactions to T+2.“We are working closely with regulators and stakeholders to make our market more accessible and attractive.”He said that major listings in the oil and gas sector, such as the planned sale of a stake in NNPC Ltd. and the anticipated listing of Dangote Petrochemicals, would significantly boost market capitalisation.He also spoke on digital innovation as a key driver of market participation, citing the launch of NGX Invest, a digital platform for primary market offers and financial literacy campaigns targeting youths, students, and members of the National Youth Service Corps (NYSC).The chairman revealed the ongoing engagements with institutional investors such as pension fund administrators and mutual funds.He also hinted on the development of sophisticated products like exchange-traded funds, derivatives, and ethical investment instruments.He highlighted efforts to integrate African capital markets through cross-border linkages that would allow investors in Nigeria to trade shares listed on exchanges in countries like Ghana and vice versa.In spite challenges such as declining disposable income, infrastructural deficits, and global economic headwinds, Kwairanga expressed optimism that these could be surmounted.“We are confident that Nigeria will have the broader, deeper, and more sophisticated capital market it deserves before the end of this decade,”he said. (NAN)NEWS
FCT Emergency Department Rescues Suspected Victim of ‘one Chance’ in Asokoro

The Federal Capital Territory Emergency Management Department (FEMD) says it has rescued a woman, who was forcefully pushed out of a moving vehicle in Asokoro, Abuja, on Friday.The department’s Head of Public Affairs, Mrs Nkechi Isa, disclosed this in a statement in Abuja.
Isa said that the incident occurred at about 4:30 p. m. at the Powerhouse Bus Stop Junction,Yakubu Gowon Crescent in Asokoro. According to her, eyewitnesses at the scene said the woman was pushed out of a moving vehicle suspected to be a robbery, by “one chance” operators.She described “one chance” as a criminal gang posing as commercial drivers with passengers, leaving one space (one chance) for an unsuspecting victim.Once they take off, the criminals dispossess the victims of their valuables and often throw them out of the moving vehicle.She said that the FEMD Search and Rescue Team was notified of the incident by the FCT Fire Service and immediately swooped into action.“On arrival at the scene, the team found the victim, identified as Khadija Salisu, unconscious but without visible physical injury.“She was promptly taken to the Asokoro District Hospital and is responding to treatment,” Isa said. (NAN)NEWS
Ministry Warns Public Against Fake Account

The Ministry of Foreign Affairs on Friday warned against the use of social media accounts by unscrupulous individuals spreading false information about its officials.The ministry’s spokesperson, Kimiebi Ebienfa, issued the warning in Abuja following the creation of a fake Facebook account in the name of Permanent Secretary, Amb.
Dunoma Ahmed. Ebienfa said, “This fraudulent account is being used to spread false information, promise contracts, solicit help, and offer enticing rewards to unsuspecting members of the public. “The Ministry firmly disassociates itself from this impersonation and urges the public to disregard any messages from the fake account, which is not an official channel. “It is important to clarify that the Permanent Secretary does not operate or own any social media account.” He advised the public not to engage with individuals or groups behind such fraudulent schemes, as they are deceptive and harmful. According to him, the ministry is working closely with security agencies and Meta, Facebook’s parent company, to investigate and shut down the fake account. Ebienfa reaffirmed the ministry’s commitment to transparency, integrity, and protecting citizens from fraudulent activities across all platforms. (NAN)