By Seun Ibiyemi
Prominent northern leaders and technocrats have called on the New Nigerian Development Company (NNDC) to reposition itself as a modern investment engine capable of driving economic revival, job creation, and sustainable development across Northern Nigeria.
The call was made at the close of a two-day strategic retreat organised by the Board and Management of NNDC in Abuja, where speakers stressed the need for the company to move beyond asset management and embrace innovation-driven investments.
Chairman of the Northern States Governors Forum and Governor of Gombe State, Muhammadu Inuwa Yahaya, said tackling insecurity and instability in the North requires deliberate efforts to create economic opportunities.
“If we are serious about addressing instability in the North, then we must also be serious about creating opportunity.
Economic revival, job creation, and social stability are deeply connected,” he said.
According to him, institutions like NNDC must be profitable enough to create hope, improve productivity, and foster shared prosperity across the region.
Governor Yahaya challenged the Board and Management of NNDC to recover the company’s founding mission as an economic vehicle for the North by pooling profits to fund commercially viable ventures.
He also urged the company to embrace emerging sectors such as Information and Communication Technology (ICT), fintech, digital platforms, and other technology-enabled investments, noting that the future economy would be shaped by innovation and digital enterprise.
Former Group Managing Director of NNDC and ex-Chief Executive Officer of FSB International Bank, Mohammed Hayatu-Deen, said difficult decisions must be taken to restore the company’s relevance.
Speaking during a session titled “Reliving the Vision of Our Hero’s Past: Sustaining the Legacy and Purpose of Our Founder into the Future,” Hayatu-Deen stressed that change requires courage and determination.
He praised the founding vision of the late Sir Ahmadu Bello and said NNDC’s full potential could only be realised if its leadership was willing to drive a broad reform process.
Director-General of the Budget Office of the Federation, Malam Tanimu Yakubu, in his presentation titled “NNDC and the Reawakening of a Competitive Northern Economy,” described NNDC as an institution created to serve as a platform for regional ambition rather than a passive holding entity.
He said the company must undergo a profound transformation from a legacy institution into a transparent, professionally managed, and impact-driven investment vehicle.
Yakubu noted that NNDC should focus on investments that expand the productive capacity of the North, particularly in agro-processing, energy solutions, logistics systems, and manufacturing.
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“It must invest in systems, not silos—ensuring that each intervention reinforces the others in a coherent economic design. This is the essence of a regional strategy,” he said.
He added that with Northern Nigeria projected to host one of the continent’s largest populations within a generation, the region must build structures capable of converting its growing population into a demographic dividend rather than a burden.
Also speaking, Director-General of the Secretariat of the Northern States Governors Forum, Ezekiel Gomos, said NNDC must rediscover its purpose and reclaim its role as a vehicle for investment and enterprise.
He warned against internal practices that weaken institutions, particularly the leaking of confidential matters to the media for personal gains.
“Strong institutions are built by culture, discipline, loyalty, and professionalism, not just strategy documents,” he said.
NNDC, a diversified investment conglomerate owned by the 19 Northern states, has interests in agriculture, real estate, solid minerals, oil and gas, and hospitality.
The retreat marks the beginning of an organisational transformation process led by KPMG Professional Services, aimed at strengthening NNDC’s future readiness and enabling it to better deliver on its mandate.
