NNDC Unveils Five-Year Transformation Plan, Reports Stronger Financial Position at 57th AGM
The New Nigeria Development Company Limited (NNDC) has unveiled an ambitious five-year transformation blueprint aimed at repositioning the organisation as a modern, commercially driven investment holding company and a catalyst for economic growth across Northern Nigeria.
The strategic plan was presented at the company’s 57th Annual General Meeting (AGM) by the Chairman of the Board, Alhaji Lamis Shehu Dikko (Ajiyan Katsina), who said NNDC had remained resilient despite Nigeria’s challenging economic climate marked by high inflation, exchange-rate volatility and tight monetary conditions.
Presenting the company’s financial performance, Dikko disclosed that NNDC recorded a 1.8 per cent increase in revenue, rising from ₦794.64 million in 2024 to ₦808.88 million in 2025. He added that the company’s total assets grew by 12.7 per cent to ₦31.43 billion, while shareholders’ equity increased by 11.9 per cent to ₦29.95 billion. Cash and cash equivalents also rose to ₦3.94 billion, reflecting a strong liquidity position.
Although profit after tax declined to ₦1.37 billion, the Board Chairman attributed the reduction to a ₦1.07 billion impairment charge on bad debts, recognised in line with International Financial Reporting Standards (IFRS) as part of efforts to strengthen the company’s financial records and improve balance sheet integrity. He noted that the company’s financial statements received an unmodified audit opinion, affirming that they fairly represent NNDC’s financial position.
To preserve capital and support the ongoing transformation programme, the Board resolved not to recommend the payment of dividends for the financial year.
A major highlight of the AGM was the presentation of the 2026–2031 Strategy Blueprint, titled “NNDC: The Rebirth,” developed in collaboration with KPMG. The blueprint outlines a roadmap for transforming the company from a legacy institution into a commercially focused investment holding company built on active portfolio management, sustainable value creation and regional economic development.
Read Also:
According to Dikko, the strategy prioritises stronger corporate governance, portfolio optimisation, capital mobilisation, operational excellence, investment facilitation, enterprise development and human capital growth. It also identifies significant investment opportunities in agriculture, information and communications technology, solid minerals, oil and gas, power, infrastructure, manufacturing, hospitality, real estate and financial services.
The Board Chairman further announced plans to undertake a comprehensive review of NNDC’s subsidiary companies to improve governance, restructure underperforming businesses, attract strategic investors and strengthen operational accountability.
As part of its commitment to human capital development, NNDC approved ₦30 million in support of the Young Professionals Development Trust and the Musa Bello Learning Resource Centre, initiatives dedicated to advancing professional education and manpower development across Northern Nigeria.
Expressing optimism about the company’s future, 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 impact across the region.
Ahead of the AGM, the company hosted a Pre-AGM Dinner featuring the Managing Director of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as guest speaker. The event attracted members of the NNDC Board, representatives of the 19 Northern shareholder states, officials of the Northern States Governors’ Forum Secretariat, NNDC management, subsidiary executives and other stakeholders.
In his presentation, Dr. Takang said NNDC could draw valuable lessons from MOFI’s transformation model by adopting global best practices in asset management, active ownership, corporate governance and catalytic investment. He noted that the similarities between the transformation agendas of both institutions provide a strong basis for collaboration in portfolio value creation, investment mobilisation and economic development across Northern Nigeria.
The Board Chairman concluded by appreciating the governments of the 19 Northern shareholder states, directors, management, staff, regulators and business partners for their continued support, expressing confidence that NNDC would emerge stronger and play a more significant role in driving the economic transformation of Northern Nigeria.
By PRNigeria
