Breaking News: Julius Berger a major construction firm operating in Nigeria has seen its earnings rise by 72% as shown in its financial reports for the first half of 2024
According to its latest financial report, its earnings after tax rose to N11.6 billion in H1 2024; a significant climb from its previously declared earnings of N6.7 billion in H1 2023.
Further information
Not long ago, the Federal Government of Nigeria decided to allocoate N20 billion monthly to Julius Berger for the completion of work on the dualisation of the 82 kilometer section of the Abuja-Kaduna-Kano highway. The Federal Government has issued a target of 14 months to Julius Berger for the completion of the work.
Details of the new arrangements regarding the project was posted on the website of the Federal Ministry of Works after the conclusion of a meeting between representatives of Julius Berger and the Honorable Minister of Works, Engr. Dave Umahi.
The Minister held a meeting with Julius Berger to discuss about all of the ongoing projects by Julius Berger including the projects inherited from previous administrations and those initiated by the current administration of President Bola Tinubu.
The Minister expressed concern for the condition of the inherited projects and decried the slow pace of work on them.
In his statements made available to 9AM News Nigeria following the conclusion of the meeting, the Honorable Minister said “We will look into all issues affecting the pace of the works, including funding. No contractor can work at a requested pace on a project without commensurate or properly structured funding.”
He further said “President Tinubu seriously wants this project accomplished for the beneficial use of the Nigerian people. “We, the Federal Government, will work with the contractors to achieve that goal.”
He promised to continue visiting the project until it is successfully completed and delivered for the people’s benefit.
Further information
According to a list made available to Ogasabi of 9AM News Nigeria some of the inherited projects giving concern to the Federal Government due to very slow pace of work include:
- Bodo-Bonny road.
- Section 2A bypass at the second Niger bridge.
- Lagos-Ibadan express way.
- Carter bridge.
- Iddo bridge
- 3rd Mainland bridge
- Abuja-Kaduna-Zaria-Kano highway.
