NNDC Records ₦1.08bn Revenue, Unveils Five-Year Transformation Plan
By Adamu Yusuf
The New Nigeria Development Company Limited, NNDC, has recorded ₦1.08 billion in revenue and unveiled a five-year transformation plan aimed at repositioning the company as a modern, commercially driven investment institution.
The Chairman of the NNDC Board, Alhaji Lamis Shehu Dikko, disclosed this at the company’s 57th Annual General Meeting, AGM, where he reviewed its financial performance amid challenging economic conditions, including inflation and exchange-rate volatility.
Alhaji Dikko said the company’s revenue increased from ₦794.64 million in 2024 to ₦1.08 billion in 2025, representing a significant growth in earnings.
He said NNDC’s assets also increased by 12.7 per cent to ₦3.143 billion, while cash and cash equivalents rose to ₦3.94 billion, underscoring the company’s strong liquidity position.
The Chairman explained that although profit after tax declined to ₦1.37 billion, the reduction was largely attributed to a ₦1.07 billion impairment charge in line with International Financial Reporting Standards, IFRS.
He said the impairment charge was part of measures to strengthen the integrity of the company’s balance sheet and ensure accurate presentation of its financial position.
The Board has also resolved not to recommend payment of dividends for the financial year, in order to preserve capital and support the company’s ongoing transformation programme.
The 2026–2031 Strategy Blueprint, presented at the AGM, seeks to transform NNDC into a commercially focused platform for sustainable value creation, investment management and regional development.
The blueprint prioritises corporate governance, portfolio optimisation, capital raising, operational efficiency, human capital development and investment opportunities in sectors including oil and gas, power, infrastructure, manufacturing, hospitality, real estate and finance.
The Board Chairman also announced plans for a comprehensive review of NNDC’s subsidiaries to strengthen governance, restructure underperforming businesses and enhance accountability.
Speaking on the company’s outlook, NNDC Managing Director, Dr. Armstrong Takang, said the company would focus on strengthening its financial performance, implementing the transformation strategy and delivering measurable commercial and developmental impact.
He also expressed NNDC’s readiness to collaborate with the Ministry of Finance Incorporated, MOFI, particularly in developing investable platforms around Northern Nigeria’s value chains.
The AGM was attended by representatives of the 19 Northern shareholder states, the Northern States Governors’ Forum, NNDC management, subsidiary companies and other stakeholders.
