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Nigerian economy: Julius Berger moves into Agriculture

The board of Julius Berger Nigeria has approved the diversification of its operations into the agro-processing industry.

According to a notice sent to the Nigerian Stock Exchange (NSE), on Thursday, the board gave its approval at a meeting that held on September 22, 2020.

Company Secretary of Julius Berger, Cecilia Madueke, said the diversification was based on recent developments in Nigeria and reforms undertaken by the Federal Government.

“The goal of the board of directors and the executive management of Julius Berger is to deliver on that strategy by maintaining and strengthening the company’s competitive advantages in the construction sector and capital market.

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“We have severally advised the market that Julius Berger will be looking into diversification opportunities, based on the emerging developments, political, economical and structural in Nigeria and the resultant reforms by the governments.

“We would advise the exchange and the capital market that the board of Julius Berger at its meeting held on September 22, 2020, approved a diversification opportunity for the company in agro-processing,” the notice read.

It said the diversification would support its success in the future and align with the government’s strategic objective of stimulating value creation in Nigeria.