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)
Benin City: TikTok Influencer Peller Pays Bride Price for Jarvis, Sparks Social Media Debate
Traditional marriage ceremony draws mixed reactions as supporters and critics weigh in on couple’s readiness for union
Traditional marriage ceremony draws mixed reactions as supporters and critics weigh in on couple’s readiness for union
Popular Nigerian TikToker, Peller, has officially paid the bride price of his fiancée, Jarvis, in Benin City, Edo State, marking the start of their traditional marriage rites on Sunday. The announcement, made via Peller’s social media pages, comes just weeks after he proposed to Jarvis in Ghana on June 3.
In a post shared with followers, Peller stated: “Today, I proudly paid the bride price of the woman I love. A beautiful journey has officially begun, and I’m grateful to both families for their blessings. She said ‘yes’ to forever, and now it’s time to build our future together. Officially off the market.” The ceremony was attended by family members from both sides as required by tradition.
The development quickly trended online after videos surfaced showing Peller taking part in the customary rites in Benin City. Supporters flooded social media with congratulatory messages and well wishes for the couple using hashtags like #JarPel2026. Some users commended Peller for honouring cultural traditions and taking formal steps towards marriage.
However, not all responses were positive. A section of social media users questioned whether the couple was prepared for married life so soon after their engagement. Some critics raised concerns about rushing into marriage without adequate preparation or time spent together.
Despite these mixed reactions, both families have expressed support for the union according to statements shared online by Peller. As at press time, neither party had issued further details about plans for a white wedding or legal registry. The conversation around the couple’s readiness continues to generate engagement across multiple platforms.
Nigeria News (Standard)
Osun Police Arrest Eight Suspected Cultists, Political Thugs Ahead of August Governorship Poll
Command recovers weapons and confraternity caps as security tightens before South-West state’s election
Command recovers weapons and confraternity caps as security tightens before South-West state’s election
The Osun State Police Command has arrested eight individuals suspected to be cultists and political thugs in separate operations across the state, days ahead of the 15 August governorship election. Police spokesperson Abiodun Ojelabi announced the arrests in a statement issued on Saturday, naming the suspects and listing items recovered from them.
According to Ojelabi, those apprehended include Abiola Osobu Michael (also known as Small), Afolabi Samson (aka Elesi), Ojute Imoleayo, Jimoh Olayinka, Oluwasesin Niyi, Robin Akeem, Robin Selim, and Nurudeen Kafayat. The suspects range in age from 19 to 48 years. Law enforcement officials said one axe, a live cartridge, a blue cap bearing the Eiye Confraternity insignia, and six other face caps were confiscated during the operation.
The arrests come as Osun prepares for a crucial governorship poll that has drawn heightened attention from political parties and security agencies in the South-West zone. Incidents of violence linked to political rivalry and cult clashes have been reported in previous elections in the state, prompting increased police presence and surveillance this year.
Ojelabi stated that investigations are ongoing to determine the suspects’ motives and possible affiliations with political groups or secret societies. “The command is committed to ensuring a peaceful electoral process and will not tolerate any form of criminality or disruption,” she said in her written statement. As at press time, no opposition party had issued a public reaction to the arrests.
Police authorities say they will continue coordinated raids and intelligence-led patrols across all local government areas in Osun before and during the election period. Residents have been urged to report suspicious activity while candidates are warned against recruiting thugs or engaging cult groups for political advantage.
Nigeria News (Standard)
FRSC Fines Lagos, Abuja Drivers ₦3,000 Each for Worn-Out Tyres in Nationwide Safety Clampdown
Agency warns motorists as fines for dangerous driving reach ₦50,000; impounded vehicles attract daily custody fees
Agency warns motorists as fines for dangerous driving reach ₦50,000; impounded vehicles attract daily custody fees
Federal Road Safety Corps (FRSC) officials have begun issuing ₦3,000 fines to motorists found driving with worn-out tyres across Lagos, Abuja and other major cities from June 22, in a bid to tackle rising road accidents linked to tyre failure. The enforcement comes as part of a wider crackdown on traffic offences nationwide.
According to the FRSC’s updated penalty schedule, drivers caught using bald or expired tyres—labelled as ‘tokunbo’ by officials—face immediate fines and risk vehicle impoundment. Offenders are typically apprehended during routine highway checks or targeted patrols in high-traffic zones. In addition to tyre-related penalties, the Corps is also enforcing fines for dangerous driving (₦50,000), forged documents (₦20,000), expired licences (₦10,000), and using mobile phones while driving (₦4,000).
The push for stricter compliance follows an uptick in serious road accidents attributed to poorly maintained vehicles and disregard for basic safety protocols. FRSC authorities noted that worn-out tyres significantly reduce grip on Nigeria’s unpredictable roads, raising the risk of fatal crashes especially during rainy season. Officials stress that these penalties are intended not only as deterrence but also to improve overall safety outcomes for commuters nationwide.
Speaking on the development, FRSC marshals advised motorists to routinely check tread depth and replace tyres showing visible wear or exposed wire mesh. “The real cost is not just the fine but the lives at stake,” an officer said during a roadside operation in Lagos. Motorists are also reminded that failure to present valid driver’s or vehicle documents attracts automatic fines and possible vehicle seizure.
For vehicles impounded due to severe violations, owners must pay a custody fee of ₦200 per day after an initial 24-hour grace period before release is considered. The FRSC urged Nigerians to maintain current documentation and safety kits—including caution triangles and fire extinguishers—to avoid unnecessary expenses and enhance roadworthiness.
Experts say full adherence to traffic regulations could significantly reduce incidents of collisions and traffic gridlocks in urban centres. The FRSC has encouraged all drivers to prioritise routine vehicle checks as part of daily practice.
Source: https://www.pulse.ng/story/frsc-traffic-offences-nigeria-penalties-2026062213160589696
