Shareholders of Julius Berger Nigeria Plc expressed strong support and excitement at the company’s 55th Annual General Meeting (AGM) held in Abuja, welcoming the new leadership of Board Chairman, Engr. Goni Sheikh, and Managing Director, Engr. Dr. Peer Lubasch.
The high-energy AGM, held at the Shehu Musa Yar’Adua Centre, marked the first under the leadership of Sheikh and Lubasch, and saw shareholders enthusiastically approve all board resolutions, including dividend payouts, director appointments, and re-elections.
In his remarks, Managing Director Lubasch acknowledged the tough operating environment, pointing to challenges such as currency devaluation, forex scarcity, inflation, surging construction costs, high interest rates, and security concerns. Despite these headwinds, he assured shareholders that the company is transforming obstacles into opportunities.
“We continue to adapt with an eye towards efficiency and sustainable growth,” Lubasch said. “In 2024, we recorded strong revenues, expanded our asset base, and sustained progress across both new and ongoing projects.”
He attributed Julius Berger’s resilience to a forward-looking strategy that integrates its core strengths with contributions from subsidiaries and a firm commitment to diversification. Highlighting progress on regional expansion, he announced two active contracts in the Republic of Benin as part of the company’s regional diversification drive.
Lubasch reassured shareholders of the company’s commitment to excellence, innovation, and sustainability, backed by disciplined execution, agile leadership, and a values-driven culture.
“No matter the challenge, Julius Berger will remain a future-ready, high-performing organisation that clients rely on and shareholders trust,” he said.
Chairman Goni Sheikh, in his address, announced a total gross dividend payout of N5.2 billion, amounting to N3.25 per 50 kobo share, drawing applause from shareholders.
While acknowledging the macroeconomic pressures facing the industry, Sheikh maintained that Julius Berger would continue to deliver on its commitments, driven by strategic partnerships, operational efficiency, and consistent innovation.
He emphasized the company’s strong focus on Health, Safety, and Environment (HSE), with revamped initiatives aimed at achieving ISO 45001 and ISO 14001 certifications. He added that the company’s safety-first culture had reduced workplace incidents and improved overall productivity.
“With dedication to efficiency and resilience, we are maintaining our industry leadership even in uncertain times,” Sheikh noted.
Sheikh highlighted that the group met its revenue and profitability targets in 2024 and pointed to subsidiaries such as Primetech Design and Engineering Nigeria Ltd, which posted a substantial increase in total equity.
He praised the staff as Julius Berger’s greatest asset, saying the company continues to invest in employee development through expanded training, mentoring, and welfare programs.
“We are building a healthy, ambitious, and innovative workforce for the future,” he affirmed.
The event closed on an optimistic note, with shareholders confident in the direction of the new leadership and the company’s strategic plans for sustainable growth.
