QUICK LINKS

×
  • Business - Companies
  • Updated: September 24, 2020

Julius Berger To Diversify Into Agric Business Due To Political, Economic Factors

Latest News

Olalekan Fakoyejo
Olalekan Fakoyejo

Fakoyejo Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ)....

More From this Author

After 50 years of operating as a construction business, Julius Berger is seeking financial opportunities in a different sector in Nigeria. The Construction company announced plans to diversify into agric business to increase its earnings.

Julius Berger informed its shareholders and the Investing public that agric business is the new path the company has chosen to adopt. Although the company is dividing its focus, it stated that "Julius Berger’s business is centered around a long term strategy."

The diversification was agreed upon by the Board of Julius Berger at its meeting held on September 22, 2020. It stated that the company sees opportunity in Agro-processing, a statement seen by AllNews disclosed.

READ ALSO: CBN Investigating Interswitch, Promasidor, Cowry, Others For Forex Fraud

Julius Berger stated that, "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." the statement reads.

It further disclosed that, "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 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."

Tags

Join our Telegram platform to get news update Join Now
Olalekan Fakoyejo
Olalekan Fakoyejo

Fakoyejo Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ)....

More From this Author

0 Comment(s)

SPONSORED

Nov 25, 2020

2023 Presidency: Would you vote for APC again in 2023?

2023 Presidency: Would you vote for APC again in 2023?

Yes 27.88%

No 72.12%

189 days 12 hours remain

See this post in...