By JKNewsMedia
SHAREHOLDERS OF Nigeria’s leading engineering and construction giant, Julius Berger Nigeria Plc, rallied in resounding support of their new leadership team during the company’s 55th Annual General Meeting held at the Shehu Musa Yar’Adua Centre, Abuja.
The gathering marked the first AGM presided over by Board Chairman, Engr. Goni Sheikh, and Managing Director, Engr. Dr. Peer Lubasch, since their appointments.
Voices from across Nigeria echoed optimism as shareholders praised the appointments, with one participant declaring the company was now in even better hands under the new duo.
The session turned enthusiastic as participants actively endorsed all board resolutions, including dividend payments, new board appointments, and Goni Sheikh’s formal ratification as a Director.
Addressing the meeting, Managing Director Lubasch acknowledged the difficult economic terrain the company operates in, citing persistent inflation, foreign exchange challenges, fuel price hikes, high lending rates, and domestic insecurity as factors reshaping Nigeria’s construction landscape.
Yet, he noted that Julius Berger continues to turn these adversities into growth avenues.
The company, according to Lubasch, recorded its highest-ever revenue while expanding its asset base and ensuring project stability during the reporting year.
This, he said, was achieved through a forward-thinking strategy focused on core business strengths, the increasing role of subsidiaries, and a diversification policy that now includes operations beyond Nigeria’s borders.
Two new contracts in the Republic of Benin were announced as a result of this regional diversification thrust.
Lubasch also stressed the company’s disciplined strategic execution, agile leadership, and values of excellence, responsibility, courage, and collaboration.
He assured shareholders of continued innovation and sustainability in line with international standards, reaffirming Julius Berger’s readiness to remain a trusted name in Nigeria’s infrastructure development.
Chairman Goni Sheikh, while announcing a gross dividend payout of ₦5.2 billion (₦3.25 per 50 kobo ordinary share), acknowledged the pressures on the company’s financial performance due to macroeconomic headwinds.
Nonetheless, he reiterated that with strategic partnerships and a resilient operational model, Julius Berger is well-positioned to maintain its industry leadership.
Also, a revamped Health, Safety, and Environment (HSE) strategy is now in place, targeting ISO 45001 and ISO 14001 certifications to further entrench safety and environmental standards across operations.
Sheikh noted that the company’s enduring “safety first” culture has minimised risks and enhanced productivity across project sites.
Despite national challenges, Julius Berger said it met revenue and profitability benchmarks for 2024, achieving positive performance across its subsidiaries.
Sheikh highlighted Primetech Design and Engineering Nigeria Ltd. as a case in point, reporting a significant rise in total equity due to improved output.
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He concluded with praise for the company’s workforce, describing staff as Julius Berger’s greatest asset. Investments in training, upskilling, mentoring, and wellbeing initiatives continue to drive the ambition and innovation that define the organisation’s future-readiness.
