Photo Caption: From Right: Mallam Abdulkareem M. Sani, FCA Executive Director, Corporate Services NNDC LTD, Alh. Lamis Shehu Dikko (Ajiyan Katsina) Chairman NNDC LTD, Dr. Armstrong Takang, Managing Director, Ministry of Finance Incorporated, Mallam Shehu Mai-Bornu, Group Managing Director, NNDC LTD and Mallam Hamza A. Khalil, Executive Director, Corporate Services, NNDC LTD. At the NNDC PRE-AGM DINNER recently in Kaduna

NNDC Unveils 5-Year Blueprint, Reports Stronger Balance Sheet At 57th AGM

The New Nigeria Development Company Limited (NNDC) has unveiled a five-year transformation blueprint aimed at repositioning it as a modern, commercially driven investment holding company and a catalyst for regional economic development in Northern Nigeria.

This is contained in a statement signed by Mohammed Abdullahi, Head, Corporate Relations Department, NNDC, and made available to newsmen in Kaduna.

The announcement was made at the company’s 57th Annual General Meeting (AGM) held at the weekend, where the Chairman of the Board, Alhaji Lamis Shehu Dikko (Ajiyan Katsina), said NNDC remained resilient despite Nigeria’s challenging economic environment marked by high inflation, exchange-rate volatility and tight monetary conditions.

According to the Chairman, NNDC recorded a 1.8 per cent increase in revenue, rising from ₦794.64 million in 2024 to ₦808.88 million in 2025. The company also strengthened its balance sheet, with total assets growing 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 stood at ₦3.94 billion, reflecting improved liquidity.

However, profit after tax declined to ₦1.37 billion. Alhaji Dikko attributed the drop to a ₦1.07 billion impairment charge on bad debts made in line with International Financial Reporting Standards (IFRS), as part of efforts to clean up the company’s financial records. He added that the financial statements received an unmodified audit opinion.

To preserve capital for the transformation programme, the Board resolved not to recommend dividend payment for the 2025 financial year.

A major highlight of the AGM was the unveiling of the 2026-2031 Strategy Blueprint themed “NNDC: The Rebirth.” Developed in partnership with KPMG, the blueprint outlines a roadmap to transform NNDC from a legacy institution into a commercially focused investment holding company driven by active portfolio management, sustainable value creation and regional development.

The strategy prioritises corporate governance, portfolio optimisation, capital raising, operational excellence, investment facilitation, enterprise development and human capital growth. It also targets investment opportunities in agriculture, ICT, solid minerals, oil and gas, power, infrastructure, manufacturing, hospitality, real estate and financial services.

Alhaji Dikko further announced plans for a comprehensive review of NNDC’s subsidiaries to strengthen governance, restructure underperforming businesses, attract strategic investors and improve accountability.

Reaffirming its commitment to human capital development, NNDC said it had allocated ₦30 million to the Young Professionals Development Trust and the Musa Bello Learning Resource Centre to support professional education and manpower development across Northern Nigeria.

Ahead of the AGM, the company hosted a Pre-AGM Dinner with Dr. Armstrong Takang, Managing Director of the Ministry of Finance Incorporated (MOFI), as guest speaker. Dr. Takang said NNDC could learn from the MOFI turnaround model by adopting global best practices in asset ownership, governance and capital deployment. He expressed MOFI’s willingness to partner with NNDC to accelerate portfolio value creation and mobilise private capital.

In his closing remarks, the Chairman thanked the governments of the 19 Northern shareholder states and other stakeholders for their support, expressing optimism that NNDC would play a stronger role in the economic transformation of the region.