The Chairman of the Northern States Governors’ Forum and Governor of Gombe State, Muhammadu Yahaya, has urged an urgent overhaul of the New Nigeria Development Company, warning that the regional investment body must adapt to current economic challenges or risk becoming obsolete.
Yahaya made this known at the end of a two-day retreat organised by NNDC’s Board and Management in Abuja, where he stressed the need for immediate and decisive action.
Represented by the Director-General of the NSGF, Ezekiel Gomos, the governor said the company remains too important to the North’s economic prospects to continue underperforming.
Details of his remarks were contained in a statement issued on Friday by the Director-General of Press Affairs at Gombe Government House, Ismaila Misilli.
In it, Yahaya highlighted the pressing issues facing the region, noting that “such as rising unemployment, economic strain, insecurityand weakening investor confidence, institutions like NNDC must now serve as engines of recovery,” the statement partly read.
He expressed confidence that NNDC could drive economic renewal across Northern Nigeria if its leadership demonstrates bold ideas, firm direction, and consistent implementation.
Yahaya called on the organisation to return to its original mandate as a strategic economic driver, rather than operating as a dormant legacy entity.
The governor emphasised that stakeholders expect forward-thinking initiatives, stressing the need for “growth-oriented thinking and commercially viable investments, not internal disputes or repeated demands for intervention funds.”
He also encouraged NNDC to tap into emerging opportunities within the digital space, noting that “opportunities in ICT, fintech, and innovation-driven enterprises.
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With millions of young people across the North possessing untapped entrepreneurial potential.”
He warned that neglecting technology-focused sectors would mean forfeiting a critical generational advantage.
Yahaya further advocated a pragmatic and results-driven review of the company’s operations, stating that emotional considerations should not hinder profitability.
He outlined possible measures including restructuring, forming partnerships, repositioning the company, or even divesting certain assets.
Drawing a link between economic growth and security, the governor maintained that “insecurity cannot be addressed without creating jobs and expanding economic opportunities.”
He added that NNDC must evolve beyond asset management into a profit-oriented institution capable of generating employment, enhancing productivity, and restoring public confidence.
In response, NNDC Chairman Lamis Dikko signalled plans for a significant strategic shift, reiterating the board’s commitment to transform the company into a more efficient holding entity.
Other contributors at the retreat included Tanimu Yakubu, Director-General of the Budget Office of the Federation, and Mohammed Hayatu-Deen, a former Group Managing Director of NNDC and ex-CEO of FSB International Bank.
While leading a session titled, “Reliving the Vision of our Hero’s Past: Sustaining the Legacy and Purpose of our Founder into the Future,” Hayatu-Deen underscored the need for difficult but necessary decisions to reposition the company for future success.