“Invest in Systems, Not Silos” – Northern Leaders Push for Strategic Transformation of NNDC

Leading thinkers and technocrats from Northern Nigeria have challenged traditional perspectives on the region’s private sector and industrial growth. They emphasised that private enterprise is crucial for accelerating transformation and fostering progress.

They made the remarks at the conclusion of a two-day retreat organised by the Board and Management of the New Nigerian Development Company (NNDC) in Abuja.

During the closing session recently, Chairman of the Northern States Governors’ Forum, Governor Muhammadu Inuwa Yahaya of Gombe State, stated: “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. Institutions like NNDC must therefore do more than manage assets; they must be profitable enough to help create hope, improve productivity, and shared prosperity.”

He urged NNDC to rediscover its core mission as an economic catalyst for the North, pooling profits to fund commercially viable ventures across the region. “I therefore challenge the Board and Management to reposition NNDC for the realities of a changing world. Gov. Yahaya affirmed that innovative and creative ideas designed for growth must be embraced by the company, as the economies of the future will be shaped by technology, innovation, and digital enterprise. “The company must begin to take opportunities in ICT, fintech, digital platforms, and other technology-enabled investments seriously, especially given the scale of youth talent and entrepreneurial potential across Northern Nigeria.”

Other speakers included Mal. Tanimu Yakubu, Director-General of the Budget Office of the Federation; Mohammed Hayatu-Deen, former NNDC GMD and ex-CEO of FSB International Bank; and Ezekiel Gomos, Director-General of the Secretariat of the Northern States Governors’ Forum.

While chairing a session titled, “Reliving the Vision of our Hero’s Past: Sustaining the Legacy and Purpose of our Founder into the Future,” Mohammed Hayatu-Deen highlighted the importance of making difficult decisions to restore the company’s trajectory. “Change is painful but requires courage and resolve,” he said. Reflecting on the golden age of NNDC, he praised Sir Ahmadu Bello’s vision and stressed that the organisation’s potential could be unlocked if leadership embraced necessary, sometimes tough, reforms.

In his paper, titled “NNDC and the Reawakening of a Competitive Northern Economy,” Mal. Tanimu Yakubu argued that “NNDC was never conceived as a passive holding entity. It was born as an instrument of regional ambition—a platform through which Northern Nigeria could aggregate capital, build enterprises, and assert its place within a rapidly evolving national economy.”

He added: “That founding vision remains relevant today. The scale of current challenges makes it even more vital. The task now is not merely to preserve NNDC but to reimagine it as the nucleus of a regional growth strategy—deliberate, investment-driven, and unapologetically focused on competitiveness.”

He called for a “profound shift—from a legacy institution to a modern investment engine”— governed with transparency and managed professionally. Yakubu emphasised that performance should be measured not just by activity, but by the tangible impact on the economy. “Every investment must answer a simple question: ‘Does it expand the productive capacity of the North?’ If yes, it belongs within the NNDC strategy.”

Given that the North is projected to host one of Africa’s largest populations within a generation, Yakubu explained that “the difference between a demographic burden and a demographic dividend depends on building economic structures that absorb and reward this energy. NNDC must lead in developing those structures—investing in value chains such as agro-processing, energy solutions, logistics, and manufacturing platforms that create jobs at scale. It must invest in systems, not silos—ensuring each intervention reinforces the others in a coherent economic framework. This is the essence of a regional strategy.”

In his contribution, Ezekiel Gomos, OFR, Director-General of the NNDC Secretariat, stressed that “Northern Nigeria faces economic strain, social pressures, and security challenges. NNDC cannot remain on the sidelines. It must rediscover its purpose, rebuild strength, and reclaim relevance as a vehicle for investment, enterprise, and regional economic revival.”

He also warned that “strong institutions are not built solely through strategy documents; they are built through culture, discipline, loyalty, and professionalism. One destructive habit is insiders leaking internal matters to the media or external parties in pursuit of short-term attention. Such behaviour damages credibility, weakens stakeholder confidence, deepens mistrust, and ultimately harms the organisation’s long-term interests.”

The NNDC is a diversified investment conglomerate owned by the 19 Northern states, with interests spanning agriculture, real estate, solid minerals, oil and gas, and hospitality, among others. The current retreat marks the beginning of an organisational overhaul led by KPMG Professional Services, aimed at revitalising the company to better deliver on its mandate and future readiness.