Northern Governors Begin Process To Revive New Nigeria Development Company

Borno State governor, Prof. Babagana Umara Zulum, has declared that his colleagues in the Northern Governors’ Forum are determined to reposition the New Nigeria Development Company Limited (NNDC) to a viable platform of regional economic growth.

Governor Zulum chairs the implementation committee for the revitalisation of the company, which has governors of Kwara, Zamfara and Plateau as members.

The NNDC, which is now moribund, will be repositioned to become a leading development finance institution, driving the commercial and industrial growth of the 19 northern states through strategic investments and a diversified portfolio,” he said.

At last Monday’s inaugural meeting of the committee at the office of the secretary to the  Kaduna State government (SSG) in Kaduna, the governor thanked the Northern Governors’ Forum for appointing an implementation panel for the restructuring of the NDDC.

He recalled that in 2018, the forum constituted a technical committee that submitted its report on restructuring the company.

“Let me first and foremost commend the Northern Governors’ Forum for appointing this very important committee to see that NNDC is back on stream.

“This committee, under my leadership, was set up based on that report of the technical committee to ensure smooth execution in line with global best practices, he added.

Governor Zulum assured both the management and staff of the company that the committee would work tirelessly to restore the NNDC to its full potential, stressing that “NNDC remains the strongest economic legacy uniting the 19 northern states symbolised by its iconic 10-storey headquarters building in Kaduna, which must be preserved.”

He further pledged that the committee would tackle the company’s institutional challenges and address staff welfare. To this end, a feedback mechanism will be set up to incorporate staff input in the restructuring process.

The meeting was attended by the deputy governors of Zamfara, Mani Malam Mummuni; Kwara’s Kayode Alabi and Plateau State’s Josephine Piyo; the SSG of Adamawa state; and the acting chief of staff to the Borno State governor, Dr Babagana Mustapha Mallumbe.

Others were the group managing director (GMD) and chief executive officer (CEO) of the company, Shehu Usman Mai-Bornu, executive director, Management Services Directorate (MSD) Abdulkareem Mohammed Sani and the executive director, Investment Supervision Directorate, Khalil Alhassan Hamzat.