NNDC unveils 5-year blueprint, reports stronger balance sheet at AGM

​The New Nigeria Development Company Limited (NNDC) has unveiled a comprehensive five-year transformation blueprint aimed at repositioning the firm into a modern, commercially driven investment holding company and catalyst for Northern Nigeria’s economic growth.

​Speaking at the company’s 57th Annual General Meeting (AGM) in Kaduna, the Chairman of the Board, Alhaji Lamis Shehu Dikko (Ajiyan Katsina), revealed that NNDC demonstrated remarkable resilience despite Nigeria’s challenging macroeconomic environment.

​The company recorded a 1.8 percent increase in revenue, growing from ₦794.64 million in 2024 to ₦808.88 million in 2025. Total assets rose by 12.7 percent to ₦31.43 billion, while shareholders’ equity grew by 11.9 percent to ₦29.95 billion. Cash reserves also surged to ₦3.94 billion, reflecting a healthy liquidity position.

​Although Profit After Tax fell to ₦1.37 billion, Dikko explained that the dip stemmed from a necessary ₦1.07 billion impairment charge on bad debts under International Financial Reporting Standards (IFRS) to clean up legacy records. To conserve capital for growth, the board resolved not to declare a dividend.

​”NNDC will focus on completing the cleanup of its financial records, implementing our transformation strategy, strengthening subsidiary performance, and delivering measurable commercial impact,” Dikko stated.

​A major highlight was the launch of the 2026–2031 Strategy Blueprint, themed “NNDC: The Rebirth,” developed alongside KPMG. The plan targets high-impact investments across agriculture, solid minerals, oil and gas, power, ICT, real estate, and financial services. To support human capital development, the company allocated ₦30 million to the Young Professionals Development Trust and the Musa Bello Learning Resource Centre.

​At a Pre-AGM dinner, Dr. Armstrong Takang, Managing Director of the Ministry of Finance Incorporated (MOFI), urged NNDC to leverage active asset management principles.

​”The similarities between NNDC’s transformation agenda and MOFI’s operating model provide a strong basis for strategic collaboration to mobilise institutional and private capital,” Takang noted.

Alhaji Dikko expressed gratitude to the 19 Northern shareholder states, reaffirming the company’s vision to lead the region’s economic renaissance.