New Nigeria Development Company Limited (NNDC) has attributed poor performance and total closure of most investment companies to poor government policies.
Disclosing this during the maiden edition conference for state-owned investment companies from the North-West, North East and North Central organised by Kano State Investment and Properties Limited (KSIP), chairman of NNDC, Alhaji Bashir Dalhatu Wazirin Dutse, stated that in most cases, government policies are in themselves responsible for the folding of such investment.
He added that as important as banks are to the development of modern economy, it is sad to note that the 19 northern states presently own no bank as theirs, when compared to the initial state in the late 70s and early 80s when the North had nine banks.
In his address, chief host of the occasion and Governor of Kano State, Dr. Abdullahi Umar Ganduje, represented by the commissioner of Works, Engineer Aminu Aliyu Wudil, stated that the company’s equity investment had risen from N1.2 billion in 2015 to N1.5 billion as at December 2018 through restructuring of its investment and adoption of e-trading system.
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