Business
Construction firm, Julius Berger to take a chance at agriculture
Construction company, Julius Berger Nigeria, known for building a number of arteries, highways and thoroughfares in the country said it would foray into agro-processing, citing “the emerging developments, political, economical and structural situation in Nigeria and the resultant reforms by the governments.”
It said in a note posted by the Nigerian Stock Exchange (NSE) on Thursday, that it had pre-informed the stock market of its diversification aspirations.
The board at its meeting on 22nd September endorsed a diversification opportunity for the firm to leverage in agro-processing, Julius Berger said in a note signed by Company Secretary, C.E. Madueke.
“The Board of Directors and the Executive Management of Julius Berger strongly believes that this diversification direction would support the continued success of the Group in the future and align with the strategic objective of the Government to stimulate value creation in Nigeria,” the document said.
Read also: Julius Berger, Seplat, Cadbury top Ripples Nigeria stock watchlist
Julius Berger began operations in Nigeria in 1950 when it won a contract to construct the Eko Bridge in Lagos through a soft loan from the German government. It attained incorporation status in 1970.
Shares in Julius Berger opened trade on the floor of the NSE on Thursday at N15 per unit.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...