The New Nigeria Development Company Limited (NNDC) was established in 1949 as a statutory Corporation named, the Northern Regional Production Development Board (NRPDB) to contribute to the economic development of the then Northern Region of Nigeria. In 1956, the NRPDB was reconstituted into the Northern Region Development Corporation (NRDC). In 1960, with the achievement of self-government, the organization’s name was further changed to Northern Nigeria Development Corporation (NNDC). It was incorporated on the 12th day of October 1965 under the Companies Act (CAP. 37) 1958.
The establishment of a new political order in 1976 gave birth to the creation of States and resulted in the dissolution of Northern Nigeria Development Corporation. In its place, a limited liability company, “New Nigeria Development Company” (NNDC), was incorporated.
The newly incorporated company commenced active development banking operations aimed at assisting the newly created states. Since then, NNDC’s mission has been constantly redefined in line with changes in the national economy. This dynamism in business focus has resulted in the emergence of a diversified holding company which has gradually metamorphosed into what is today a self sustaining, highly professionalized and profit oriented finance institution of its kind in the country.
The company plays an active development finance role in the Northern States in particular and in Nigeria as a whole.
NNDC prides itself on being one of the leading conglomerates in Nigeria with a very proud heritage of positively impacting on the development of the northern region since inception.
NNDC’s portfolio of investments spans various sectors including: - Solid minerals, Consulting, Real Estate, Construction, Manpower Development, Hotel Management and Hoteliers, IT and Telecommunications, Construction, Agriculture, Oil and Gas and Investments.
NNDC’s shareholders comprise the nineteen (19) northern states (Adamawa, Bauchi, Benue, Borno, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Nassarawa, Niger, Plateau, Sokoto, Taraba, Yobe and Zamfara), represented by the respective Secretaries to the State Governments.