News From Nigeria
Julius Berger approves ₦6.8bn dividend payout as profits surge
Lubasch: The values that define Julius Berger remain unchanged
Julius Berger Nigeria Plc has announced strong financial performance, marked by higher revenue and profitability, while shareholders have unanimously approved a total dividend payout of ₦6.8 billion, equivalent to ₦4.25 per share. The company described the period as one defined by efficient project delivery and sound financial management.
Speaking at the company’s Annual General Meeting held Thursday in Abuja, Board Chairman Engr. Goni Musa Sheikh revealed that revenue grew by 34.1 percent from ₦566.71 billion recorded in 2024, driven by increased activity across key business segments. Profit before Tax also rose significantly by 38.5 percent to ₦40.95 billion from ₦29.57 billion the previous year. Net profit reached ₦30.17 billion, reflecting one of the company’s strongest performances in recent years, while earnings per share nearly doubled, climbing 96 percent to ₦18.69 from ₦9.54 in 2024.
Sheikh attributed the robust results to consistent delivery across the company’s four main operational areas: civil engineering, building construction, services, and diversification. He noted that Julius Berger executed several major infrastructure and building projects nationwide, reinforcing its position as a leading engineering and construction firm.
Looking ahead, he expressed confidence in the company’s growth prospects, citing its solid financial standing and technical expertise as key advantages in securing new projects both locally and across the region. He added that Julius Berger remains strategically positioned for long-term growth in Nigeria’s infrastructure sector.
Managing Director Engr. Dr. Peer Lubasch emphasized that the company’s strategy continues to revolve around its core strengths in construction and engineering services, supported by subsidiary operations and regional expansion efforts. He stressed that these elements create new market opportunities beyond traditional construction.
In his address to shareholders, he declared that at the heart of the company’s strategy remain its core operational strengths in civil works, building, construction and services. He added, these strengths are complemented by the capabilities of our subsidiaries and by our regional diversification efforts, which continue to expand our market access and create additional growth opportunities beyond traditional construction activities. Importantly, the values that define Julius Berger remain unchanged, excellence, responsibility, courage and collaboration.
He said, despite the present-day economic realities, Julius Berger has remained focused, agile and disciplined in execution. Our success continues to be guided by our well-established and forward-looking strategy, explaining that, Julius Berger integrates our core construction business, the growing contribution by our subsidiaries, the second pillar, and then the third pillar is the deliberate diversification initiatives. And it’s all combined into a unified growth model designed for long-term competitiveness and sustainability.
Lubasch reaffirmed that the company’s guiding principles viz excellence, responsibility, courage, and collaboration remain unchanged. Despite current economic challenges, he said Julius Berger has maintained focus, agility, and disciplined execution, guided by a forward-looking strategy that integrates its core business, subsidiaries, and diversification initiatives into a unified, sustainable growth model.
Highlighting key project achievements, Lubasch cited the reconstruction of Port Harcourt Road in Aba, Abia State, as a major success. The project involved constructing a 5.7-kilometre dual carriageway in both directions, rehabilitating existing infrastructure, and installing extensive drainage and safety systems. Commissioned in October 2025, the road has significantly enhanced mobility and commercial activity in Aba.
Commissioned with His Excellency, the state Governor in October 2025, this project has significantly improved urban mobility and commercial connectivity within Aba, one of Nigeria’s key commercial hubs. The successful delivery of this project again demonstrates our capability to execute complex urban infrastructure projects to the highest standards, Lubasch further said.
He also pointed to the newly completed Bodo-Bonny Road project, describing it as one of Nigeria’s most strategic public-private partnership initiatives. Spanning approximately 38 kilometres across difficult swamp terrain, the project includes multiple bridges and pipeline crossings. He added that once commissioned, the road is expected to boost connectivity to Bonny Island and stimulate economic growth in Rivers State.
He declared: we are pleased that the project is ready for commissioning. The road will significantly improve connectivity to Bonny Island, unlock economic opportunities and further strengthen industrial and community development within River State. This project continues to showcase our engineering expertise and our ability to deliver in technically very challenging environments.
Lubasch further highlighted other major completed projects, including the Lagos Northwest Tower, Lagos-Opebi-Mende Road, and the Bola Ahmed Tinubu International Centre in Abuja, reinforcing the company’s track record in delivering critical national infrastructure.
VIBROFLOTATION AND GEOTECHNICAL, PRISONERS CARE, OTHERS EULOGIZE ELSIE AJAYI IKOLI AS DIGNITARIES GATHER IN LAGOS
The person who cries loudest when a stone is thrown into the market is the one who has been hit. To him, everything is about tribal affiliation. For someone to grow, he or she must at some point learn whether his interaction is positive or negative with the people around him
A recalibration is not a weakness. I am an Isoko man from Delta state. This is what people like you will call a minority. Unlike you, I don’t wear my tribe on my forehead. I only use it as a reference point here .It does not connote power to me and it is not my whole identity.
When you use yours, it is everything to you because you have been raised to believe that without it, you have no power, and you have no identity.
When you are not invited to the high table, it means you are totally subjugated, and you feel your entire tribe is marginalized and your whole existence becomes meaningless.
It is a sad life when the definition of us becomes the group. This illusion obscures our humanity and our real identity as a person. This is the limitation that takes away the natural order of growth that increases our understanding of our environment and we are glued to the mirror and Narcissus becomes our best friend. Any counter view is considered an existential threat that must be eliminated with acidic fervor. Language becomes crude and vulgar and meaning is lost and progress stunted.
I don’t have those kinds of attachments and hang-ups because my existence is beyond anything that confines me. You have been raised to think otherwise. You are your tribe and your tribe is you. This ossification makes your cage very uncomfortable. No matter where you go, you can never belong.
I am a citizen of the world. I am home anywhere because I have never been raised to lord it over other people. I am not disappointed when I don’t meet your expectations which are clannish and subterranean. You take it as a personal affront when an independent observer talks about the need to rethink. From my vantage position, I can see how the interplay of Hausa, Igbo and Yoruba affects the other people that you and others hardly think about. From the way I mentioned the tribes, you can see that they are in alphabetical order because someone like you will complain that i did put Igbo last.
I have written more on the Hausa / Fulani relationship and its effect on Nigeria. No one from there has accused me of myopia or stupidity. I am an equal opportunity offender. Why would you want me to include the South-West in an essay about Igbo and Fulani? You can write about the marginalization of Igbos if that is what you are worried about. You can also write about the relationship of Igbo and Yoruba. That should keep you busy because you have so much grudge. It is time the South-East people learn to deal with issues dispassionately.
How can a member of the big tribe preach marginalization to those of us you call minority? Everything in our land is harvested, devastated and divided among Igbo, Hausa and the Yoruba in Nigeria. Do the people from the dominant groups actually spend any time talking about justice? Your attitude is poor because it is self-serving. People like you only talk about justice when your tribe’s man is affected.
The Igbo candidate lost in the last election. If he had won, he would make everyone around him Igbo. I see nothing wrong with that. My quarrel is that we are not restructured, and the federation is lopsided. If we are well structured and every region is in charge of their resources, I will not care if you become president and all your family members become your cabinet. This is because most of the decisions they will make will not affect me and at that time, there will be a workable system that will check that kind of abuse. It is normal for people in high places to appoint people they can trust and have the vision of the leader. Buhari put all his people there. It was terrible because most of them were incompetent. In a well-structured country, it will not be necessary to be a kinsman in order to be appointed. We just want those who could do the job. The system we have now is the winner takes all. When Goodluck Jonathan was president, the majority of the cabinet was Igbos. The West and the North complained and they wrestled power from him. It was due to the insularity of the Igbos that Jonathan lost.
You are wrong to complain that you are marginalized when you could not work hard to re-elect the person who gave most of his cabinet positions to the Igbos. Your marginalization is self-imposed.
Learn how to work with others and they will work with you. It is pathetic when people like you whine about marginalization, when in actuality, you lack the discipline, dedication and the humility needed to form workable alliances.
For your homework, go and study how Bola Tinubu gained power. He stooped to conquer. I don’t think stooping is in the lexicon of the Igbos. This is why power will always elude you. You think we should beg you to lead because you are very smart. You are going to wait a very long time if you don’t change your attitude
Remember I am an equal opportunity offender. I will revisit this subject.
DR AUSTIN ORETTE WRITES FROM HOUSTON, TEXAS