We’re a major player in Nigeria’s construction industry, says Richter

The Managing Director of leading engineerig construction company, Julius Berger Nigeria Plc, Engr. Dr. Lars Richter has declared that the company is a major player in the country’s construction sector, adding that, “it is hard not to reckon with Julius Berger Nigeria Plc in the scheme of things despite the challenges posed by the Nigerian economy in 2023.”

The Managing Director who spoke at the recent edition of the company’s Investors Forum few days after its successful 54th Annual General Meeting, in answer to a question from an investor said, “we are still a major player in Nigeria’s construction industry. We have the brand and experience; we are not unaware of the rising competition; we remain a Tier 1 construction company. We have the funding power; we have the capacity in terms of manpower and experience, which many in the competition cannot really boast of.”

Richter, who was optimistic that the company will get new projects, moving forward said, “opportunities abound not only at the federal government level, in states like Abia, Delta, Rivers and Akwa Ibom as well as the Republic of Benin, where the company currently has some projects ongoing, we are optimistic we will get new projects there and even from identified potential clients.”

In answer to another question, the Managing Director, said, “Julius Berger completed Phase 1 of the Lagos-Sagamu Expressway last year.” Adding that, the project is ongoing, he said, “Phases 2 and 3 are under review with the government. The asphalt work there is okay. Right now, some minor repair works are being undertaken. We are ready to continue our work on the project, but it will depend on the government.”

On the company’s highly rated CSR scorecard, Richter said, “Julius Berger deliberately trains and employs unemployed youths at operational sites, where they have opportunities to become skilled and more useful to the society.” He continued, “we employ them in the sites. We dont employ only skilled workers there. We employ unemployed youths, train and equip them to work at our sites. We provide them with education too in our Academy. Indeed, we do a lot in the training of unemployed youths.”

Richter also said the company’s CSR efforts have continued to have positive impacts on targeted communities even as he disclosed that, “Julius Berger focusses on education, community development and philanthropy” adding that, “to ensure the sustainable efforts reach targeted beneficiaries, the company’s Community Liaison Officers, CLOs, in the operational communities send feedback to the relevant departments”, retorting that, “we have CLOs. They are effective liaison with the communities. We get feedback from them. So, we easily address our CSR complaints.”

Answering a question on diversification, Richter said, “the company has some key considerations in determining its options principal among which are the Food sector and the Healthcare sector apart from the regional diversification as being currently experienced in Cotonou, Republic of Benin.” Assuring potential investors on Julius Berger’s diversification efforts, Richter said, “we are mainly a construction company. On diversification efforts in Julius Berger, Jochen Stolle is there to look into our diversification plan. He is covering all the projects and sectors for diversification. It is a new field, and we are looking into B2B business on diversification… Food security is becoming a major problem; and we are already looking into how we can key in and be relevant.”

On the reported vandalization of sections of the newly constructed Second Niger Bridge, the Managing Director disclosed that, “the company is assisting the Federal Government to fix the vandalised project.” He said, “we have records of the vandalization. We are assisting the Federal Government on this. Our team has been there and only minor damage was done to the national asset. But nothing was done to the infrastructure.”

Richter said “Julius Berger is maintaining a positive outlook in every aspect of its operations. Our strategic framework prioritises sustainability, supports growth, leverages innovation and focuses on long term growth. We will continue to deliver high quality services to our client and despite the challenges, Julius Berger is on the road to innovation, sustainability, growth among other positive developments.”

The Financial Director, Christian Hausemann, who also spoke at the event was confident that the fortunes of the company are looking up.

The virtual Investors Forum, which had participants across the globe in attendance saw presentations by the Managing Director and the Financial Director and featured a Questions and Answers session.

The annual Julius Berger Investors Forum serves as a platform to illuminate the intricate tapestry of our business, operations, and financial achievements. The company uses the Forum to unveil the blueprint of ist acclaimed success while offering discerning investors and potential ones a comprehensive view of the company‘s journey, achievements, and aspirations.

The company holds that through a meticulous examination of its business model, operational prowess, and financial highlights, investors and potential ones will gain invaluable insights into the compelling investment opportunities that Julius Berger presents within the construction industry.