Julius Berger leases out cashew nut facilities, but deal value undisclosed

The board of directors of Julius Berger has approved opportunity to lease out the company’s cashew nut facilities to Eko Organic Food Industries Limited.

Though the lease value wasn’t disclosed, but Julius Berger said in its September 24 note that it had on September 23, 2020 informed the market of its Board’s approval to explore a diversification opportunity in Agro-processing.

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“Consequent upon the strategy of Julius Berger, to be more thematic to its core business by strengthening its capacity in Nigeria and exploring opportunities regionally and globally, the Board of Julius Berger, at its
meeting of September 24, 2025, took the decision to lease out its cashew processing facilities, upon mutually agreed terms, to Eko Organic Food Industries Limited, whose core business would ensure the continued relevance of Julius Berger and its strategic intent to take value from opportunities in Agro-processing,” the construction giant told the investing public.

It further noted that the goal of the Board of Directors and the Executive Management of Julius Berger remains to deliver on the strategy of maintaining and strengthening the Company’s competitive advantages in the Construction sector, and any other sector it ventures into.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.