LAGOS, September 25, 2025 — Julius Berger Nigeria Plc has officially withdrawn from its agro-processing venture, approving the lease of its cashew nut processing plants to Eko Organic Food Industries Limited. The move underscores the engineering company’s decision to return full focus to its traditional stronghold in construction and infrastructure development.
The decision was ratified at the board meeting of September 24, 2025, and brings to a close the group’s five-year attempt to diversify into agriculture. Julius Berger first announced its agro-processing ambitions in 2020, citing the need to expand revenue streams and reduce dependence on large-scale engineering contracts. The venture culminated in the establishment of cashew processing facilities, which the company had positioned as a key driver of growth outside the construction sector.
Industry analysts say the lease agreement reflects a strategic realignment by Julius Berger, which in recent months has prioritized core projects amid rising costs and tighter margins in Nigeria’s construction industry. With the new arrangement, Eko Organic Food Industries Limited is expected to take over operations of the cashew plants, while Julius Berger consolidates resources to strengthen its engineering and infrastructure portfolio.
Although financial details of the lease were not disclosed, the company stated that the decision was made in the best interest of shareholders and aligns with its long-term business objectives.
Market observers noted that Julius Berger’s exit from agriculture highlights the challenges faced by non-traditional players seeking to break into Nigeria’s agro-processing sector, where infrastructure deficits, high operating costs, and policy inconsistencies have stalled growth.
The company reaffirmed its commitment to delivering landmark civil engineering and construction projects across Nigeria, emphasizing that the renewed focus will enable it to enhance efficiency and deepen client trust in its core business areas.
