Our plans to improve performance – NNDC Chairman

The chairman of New Nigeria Development Company (NNDC), Alhaji Lamis Shehu Dikko has reaffirmed the company’s determination to reinvent itself and reposition its operations and its investment portfolio as a holding company. He spoke during at the commencement of a two-day Board/Management retreat which commenced Wednesday in Abuja. According to him, with over seven decades […]

The chairman of New Nigeria Development Company (NNDC), Alhaji Lamis Shehu Dikko has reaffirmed the company’s determination to reinvent itself and reposition its operations and its investment portfolio as a holding company.

He spoke during at the commencement of a two-day Board/Management retreat which commenced Wednesday in Abuja.

According to him, with over seven decades of history and with many portfolios, the company’s financial performance has not reflected its potential.

The NNDC is a diversified conglomerate owned by the 19 Northern states with investments covering sectors including agriculture, real estate, solid minerals, oil and gas, hospitality, among others.

Speaking at the retreat, the Chairman stated that the retreat will interrogate the current reality as “financial outcomes have not consistently reflected the scale of our potential.”

The Chairman stated that the retreat was designed to harness the expertise of its Board, Management and external resource persons for a two-day deep-dive aimed at redefining its business model with a view to identifying challenges and repositioning the company for future strategic advantage.

“We will drive a focused, and value driven portfolio strategy anchored by a disciplined capital allocation framework, clarity of direction, discipline in execution and consistency in leadership”, he said.

“We have reflected on where the NNDC has come from and examined, with honesty and candour, both our strengths and our shortcomings. This session is an opportunity to consolidate those reflections into clear decisions, practical priorities and measurable outcomes.

“For over seven decades, the NNDC has stood as a cornerstone of economic aspiration, enterprise, and regional development across Northern Nigeria…the company has played a vital role in promoting industrialization, fostering investment and supporting socio-economic advancement across the region. While the NNDC retains a broad portfolio of investments, performance across several assets remain uneven,” Dikko added.

Speaking earlier, the CEO of NNDC, Shehu Mai-Bornu, noted that change is necessary to ensure the company is positioned as a key driver for the North’s industrial development as planned at its inception.

The retreat, which is being steered by KPMG Professional Services attracted external contributors from across key sectors of the economy, including Dr. Suleiman Ndanusa, former CEO of SEC; Mohammed Kari, Wazirin Bauchi & former CEO of NICON Insurance; Mohammed Hayatudden, former CEO of FSB International Bank; Aliyu Suleiman, Group Chief Strategy Officer, Dangote Industries and Mrs. Kemi Babalogbon Executive Director Risk Management, Ministry of Finance Incorporated (MoFI).