Gov. Inuwa to NNDC: Reform Now or Fade Away, NSGF Chair Warns

Gov. Inuwa to NNDC: Reform Now or Fade Away, NSGF Chair Warns

Governor Muhammadu Inuwa Yahaya has called for urgent reforms at the New Nigeria Development Company, warning that the regional investment firm must reposition itself to address Northern Nigeria’s economic challenges or risk becoming irrelevant.

Alhaji Inuwa Yahaya, who also chaired the Northern States Governors’ Forum, made the call at the end of a two-day retreat organised by NNDC’s board and management in Abuja.

Ismaila Uba Misilli, the Director-General of Press Affairs at the Government House in Gombe, issued a statement on Friday.

Represented by the Director-General of the NSGF, Ezekiel Gomos, the governor said NNDC remains too strategic to the region’s economic future to continue operating below its potential.

He pointed to rising unemployment, economic hardship, insecurity and declining investor confidence as key challenges requiring immediate and coordinated action.

“The era of talk must give way to action,” he said, urging the company’s leadership to adopt reforms driven by efficiency, innovation and accountability.

Alhaji Yahaya said NNDC must rediscover its founding purpose as a catalyst for economic development in Northern Nigeria, rather than functioning as what he described as a passive legacy institution.

He added that shareholders expect commercially viable investments, growth-orientated strategies and improved returns, not internal disputes or recurring dependence on intervention funds.

The governor also urged the company to take advantage of opportunities in the digital economy, including information and financial technology and innovation-driven enterprises.

He noted that millions of young people across the region possess untapped entrepreneurial potential, warning that failure to invest in technology-driven sectors would mean missing a critical opportunity for long-term growth.

Alhaji Yahaya further called for a “hard-nosed” reassessment of NNDC’s structure and operations, saying options such as restructuring, strategic partnerships, repositioning or divestiture should be considered where necessary.

He linked economic performance to regional stability, arguing that insecurity cannot be effectively addressed without job creation and inclusive economic expansion.

“NNDC must evolve into a profit-driven institution capable of creating jobs, boosting productivity and restoring hope,” he said.

Other speakers 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-Chief Executive Officer of FSB International Bank.

Chairing a session on sustaining the vision of NNDC’s founders, Hayatu-Deen said difficult but necessary decisions would be required to reposition the company for future relevance.