Construction giant, Julius Berger, has said it is looking into diversification opportunities, based on the emerging developments in Nigeria and the resultant reforms by the government.
In a regulatory filing to the Nigerian Stock Exchange, it said the board approved a diversification opportunity for the company in agro-processing, after a meeting held on September 22.
The statement titled “Board approval of diversification opportunity’, was dated September 22, 2020. It was signed by the Company Secretary, Mrs Cecilia Madueke.
It said the diversification drive would support the group in the long term.
Part of the statement read thus: “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.”
The firm reiterated its commitment to maintaining and strengthening its competitive advantages in the construction sector.