Nigeria News (Standard)
Lagos-Based Aradel Sees 192% Profit Jump as ND Western, Renaissance Africa Acquisitions Boost Earnings
Company’s annual report for 2025 shows significant profit surge linked to strategic investments in oil and gas sector
Company’s annual report for 2025 shows significant profit surge linked to strategic investments in oil and gas sector
Aradel Holdings Plc, a Lagos-based indigenous energy firm, has announced a 192 percent increase in its annual profit for the 2025 financial year, attributing the surge to recent acquisitions involving ND Western and Renaissance Africa. The disclosure came in the company’s latest audited financial statements released on Monday.
According to Aradel, the remarkable growth was primarily driven by increased earnings following its stake acquisitions in key oil and gas assets managed by ND Western and Renaissance Africa. The company noted that these investments delivered significant returns, helping to offset sector-wide challenges such as foreign exchange volatility and operational disruptions experienced during the reporting period.
Industry analysts say the robust results underline a shifting landscape in Nigeria’s oil and gas sector, where indigenous companies are playing a more prominent role. The sector has been under pressure due to fluctuating naira rates and production uncertainties, but Aradel’s performance suggests that targeted investments can yield positive outcomes for shareholders. “This development shows local firms can compete effectively if they leverage the right opportunities,” an energy consultant familiar with the matter said.
Aradel’s management expressed optimism about sustaining growth amid ongoing reforms in Nigeria’s energy policies. The company stated it would continue seeking strategic partnerships to expand its asset base. Efforts to reach officials from ND Western and Renaissance Africa for comment were not immediately successful as at press time.
With global oil prices remaining volatile and domestic reforms still underway, market watchers believe Aradel’s strategy could serve as a model for other Nigerian energy players seeking resilience. The company is expected to provide further updates on its investment plans at its upcoming annual general meeting.
Nigeria News (Standard)
Troops Neutralise Suspected Terrorists, Rescue Abductees in Sokoto and Katsina Raids
Military operations foil attack in Tureta, recover arms and rustled livestock; Defence Ministry pledges continued vigilance
Military operations foil attack in Tureta, recover arms and rustled livestock; Defence Ministry pledges continued vigilance
Troops of Sector 2 under Operation Fansan Yamma have neutralised suspected terrorists, rescued abducted civilians, and recovered arms, motorcycles, and rustled livestock during coordinated raids in Sokoto and Katsina states. The operations took place on Friday, June 21st, following intelligence reports of planned attacks in Tureta Local Government Area of Sokoto State.
According to a statement issued by Lieutenant Colonel Aliyu Danja, Media Information Officer for the Joint Task Force North-West (Operation Fansan Yamma), troops responded swiftly when armed men attempted to infiltrate Tureta town. “Acting on credible intelligence, our forces engaged the attackers, forcing them to abandon their mission and flee the area,” Danja said.
Subsequent aerial surveillance tracked the fleeing suspects to Sulubawa Gidan Kare village. The troops launched a pursuit operation after it was discovered that the armed men were moving with abducted civilians and stolen livestock. Despite coming under ambush from the suspects, soldiers overpowered them during a gunfight. Arms and ammunition were recovered at the scene, while several abductees and rustled cattle were safely retrieved.
The ongoing military campaign in the North-West has intensified since early 2026 as government seeks to curb rising incidents of banditry and kidnapping. Security analysts say Sokoto and Katsina remain hotspots for armed group activity due to their proximity to forest hideouts straddling state boundaries.
Lt.-Col. Danja stated that all rescued victims have been reunited with their families. He also assured residents that Operation Fansan Yamma would continue aggressive patrols across affected communities. The Defence Ministry has called on citizens to provide timely information to security agencies as part of efforts to restore peace in the region.
No civilian or military casualties were recorded during these operations as at press time. The authorities reaffirmed their commitment to dismantling terrorist networks across the North-West geopolitical zone.
Nigeria News (Standard)
Asake Unveils Four New Songs at Exclusive Spotify Concert in London
Lagos-born Afrobeats star delivers first-ever live performance of ‘M$NEY’ album, thrilling invited guests and top Spotify listeners
Lagos-born Afrobeats star delivers first-ever live performance of ‘M$NEY’ album, thrilling invited guests and top Spotify listeners
Nigerian singer and two-time Grammy nominee Asake premiered four unreleased tracks during an exclusive Spotify concert held at the Theatre Royal Drury Lane in London on Sunday, June 21. The one-night-only event, organised in partnership with Spotify, marked Asake’s first live performance of his chart-topping album ‘M$NEY’ since its release in May.
The intimate gathering brought together friends, family, and select top listeners from Spotify for a unique experience. Asake was joined by a live orchestra as he performed popular songs from ‘M$NEY’ alongside the new material. The concert was recorded for a forthcoming film that will be released on the streaming platform.
‘M$NEY’, released on May 1 via Giran Republic and EMPIRE, is Asake’s fourth studio album and has enjoyed widespread success since launch. The project topped streaming charts in over 19 countries including Nigeria, and reached No. 8 on the United States chart. According to global digital ranking service Kworb Data, Asake was recently named the fifteenth most popular digital artist worldwide, joining the ranks of major international stars.
The 13-track album sees Asake blend choral arrangements, orchestral sounds, jazz influences and Afrobeats rhythms in what many observers consider his most musically diverse project to date. In a statement about the album, Asake described ‘M$NEY’ as “a reflection of my spiritual and creative journey”, adding that every song expresses gratitude and personal evolution.
Industry stakeholders say this latest performance cements Asake’s position as a leading figure in Nigerian music, following his record as the most-streamed artist on Spotify Nigeria and his unprecedented run on the Billboard U.S. Afrobeats Songs chart. The full concert film is expected to be available to global audiences via Spotify in coming days.
Nigeria News (Standard)
Oyo Police Reassure Families on Swift Release of Abducted Pupils and Teachers
State command renews commitment to rescue operation as community anxiously awaits return of victims
State command renews commitment to rescue operation as community anxiously awaits return of victims
The Oyo State Police Command has given fresh assurance regarding the ongoing efforts to secure the release of pupils and teachers who were abducted in the state. The reassurance came on Monday, 22 June 2026, as families and residents in the affected community continue to await positive news.
According to police authorities, operatives are intensifying their search and rescue operations across identified locations linked to the abduction. The command stated that every available resource is being deployed to ensure that those held captive are freed unharmed and reunited with their loved ones.
The incident has heightened concerns over security in Oyo State, especially among parents and educational stakeholders. Many have called for improved security measures around schools and increased patrols in vulnerable areas. The police have urged members of the public to remain calm and cooperate by providing credible information that could assist investigators.
While the details surrounding the number of abducted persons remain undisclosed, the police reiterated their commitment to resolving the matter swiftly. “We are working round the clock with other security agencies to ensure the safe rescue of all victims,” a statement from the command noted.
The state government is yet to issue a separate statement on the incident as at press time. Meanwhile, security agencies have intensified surveillance in neighbouring communities as part of ongoing efforts to prevent further incidents.
