The board of Julius Berger Nigeria Plc has approved a diversification into the Agro-processing as part of efforts to deliver on the company’s long term strategy.
In a notification to the Nigerian Stock Exchange (NSE) , Julius Berger Nigeria said it had severally advised the capital market that the company would be looking into diversification opportunities, based on the emerging developments, political, economical and structural in Nigeria and the resultant reforms by the Governments. The diversification was approved at a meeting on September 22, 2020.
According to the disclosure statement, the decision to diversify is based on the emerging political, economical and structural developments in Nigeria and also the resultant reforms by the federal governments.
“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,”
“Julius Berger’s business is centred around a long term strategy. 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.
“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,” the statement read.
The company did not, however, disclose any date for the commencement of the diversification or the specific projects it would use to launch its entry into agro-processing.