The New Nigeria Development Company (NNDC) has unveiled a five-year transformation strategy aimed at unlocking investment across key sectors of Northern Nigeria, as the regional investment firm reported stronger financial fundamentals with total assets rising 12.7 percent to N31.43 billion and shareholders’ equity increasing 11.9 percent to N29.95 billion.
The strategy, tagged “NNDC: “The Rebirth”, is expected to position the company as a commercially driven investment holding company capable of attracting private capital, restructuring underperforming subsidiaries and driving economic development across agriculture, ICT, solid minerals, oil and gas, power, infrastructure, manufacturing, hospitality, real estate and financial services.
This is contained in a press statement signed and made available by Mohammed Abdullahi, head of the Corporate Relations Department, on Monday.
Speaking at the company’s 57th Annual General Meeting (AGM), Chairman of the Board Lani’s Shehu Dikko said the blueprint, developed in partnership with KPMG, provides a roadmap for transforming NNDC into an institution focused on active portfolio management, sustainable value creation and regional economic growth.
He said the company remained resilient despite operating in an economy challenged by high inflation, exchange-rate volatility and tight monetary conditions.
According to him, NNDC recorded a 1.8 percent increase in revenue, rising from N794.64 million in 2024 to N808.88 million in 2025, while cash and cash equivalents climbed to N3.94 billion, reflecting improved liquidity.
Although profit after tax declined to N1.37 billion, Dikko explained that the reduction resulted mainly from a N1.07 billion impairment charge on bad debts, recognised in line with International Financial Reporting Standards (IFRS), as part of efforts to strengthen the integrity of the company’s financial records.
He noted that the financial statements received an unmodified audit opinion, affirming that they fairly present the company’s financial position.
To preserve capital and finance its ongoing transformation programme, the board resolved not to recommend the payment of dividends for the 2025 financial year.
The chairman disclosed that the transformation blueprint prioritises stronger corporate governance, portfolio optimisation, capital mobilisation, operational excellence, enterprise development and human capital growth.
As part of the restructuring programme, NNDC will undertake a comprehensive review of its subsidiary companies to improve governance, restructure underperforming businesses, attract strategic investors and enhance operational accountability.
The company also reaffirmed its commitment to developing skilled manpower across Northern Nigeria by approving N30 million for the Young Professional Development Trust and the Musa Bello Learning Resource Centre, institutions dedicated to professional education and capacity building.
Looking ahead, Dikko said NNDC would focus on completing the clean-up of its financial records, implementing the transformation strategy, strengthening subsidiary performance, mobilising investment capital and delivering measurable commercial and developmental outcomes.
Ahead of the AGM, NNDC hosted a pre-AGM dinner featuring the Managing Director of the Ministry of Finance Incorporated (MOFI), Armstrong Takang, who urged the company to adopt global best practices in active asset ownership.
Takang said NNDC could leverage lessons from MOFI’s transformation by maintaining a clear mandate, strengthening governance, exercising active ownership of assets without interfering in day-to-day management, deploying capital strategically and building a sustainable institution.
He added that the similarities between NNDC’s reform agenda and MOFI’s operating model provide a strong foundation for collaboration that could unlock portfolio value, develop investable platforms around Northern value chains, improve asset readiness for investment, strengthen creditworthiness and attract institutional and private sector capital.
Takang affirmed that MOFI was ready to partner with NNDC in advancing its transformation programme.
Dikko thanked the governments of the 19 Northern shareholder states, the board, management, staff, regulators and business partners for their continued support, expressing confidence that NNDC would emerge stronger and play a more significant role in accelerating the economic transformation of Northern Nigeria.
