NNDC moves to revamp operations, improve returns — Dikko
By Auwal Ahmad Umar
The Chairman of the New Nigeria Development Company, Lamis Shehu Dikko, has announced plans to overhaul the company’s operations and improve returns on its investments, as part of a broader strategy to reposition it for long-term growth.
Mr Dikko disclosed this on Wednesday during the opening of a two-day board and management retreat held at the Wells Carlton Hotels & Apartments.
He said the company is working towards transforming itself into a more efficient holding company, driven by a focused investment strategy and stronger corporate governance.
“We will pursue a disciplined, value-driven portfolio strategy anchored on clarity of direction, discipline in execution and consistency in leadership,” he said.
According to him, the retreat provides an opportunity for the company’s board, management and external experts to critically review its business model and chart a new course.
He noted that while NNDC has played a significant role in promoting industrialisation and investment across Northern Nigeria for more than seven decades, performance across some of its assets has remained below expectations.
“Our financial outcomes have not consistently reflected the scale of our potential,” Mr Dikko said. “This session allows us to translate our reflections into practical priorities and measurable outcomes.”
He added that the discussions would focus on identifying key challenges, strengthening governance structures and unlocking value across the company’s investment portfolio.
The Managing Director of NNDC, Shehu Mai-Bornu, said the reform effort is necessary to reposition the organisation as a key driver of industrial development in Northern Nigeria.
He stressed that adapting to changing economic realities is critical for the company to remain relevant and deliver on its founding mandate.
The retreat, facilitated by KPMG Professional Services, drew participants from across the financial and corporate sectors, including Suleiman Ndanusa, Mohammed Kari, Mohammed Hayatudden, Aliyu Suleiman and Kemi Babalogbon.
Deliberations at the retreat are expected to produce a clear reform roadmap, with defined priorities and performance targets aimed at strengthening NNDC’s impact on regional economic development.