News From Nigeria
. GROWS REVENUE BY 40%, BOARD RECOMMENDS DIVIDEND OF N2.50K PER 50K SHARE
Despite numerous challenges in the last financial year, with due regard to the ongoing FX scarcity and current global supply chain constraints, both consequences of the COVID-19 pandemic and the ongoing Russia-Ukraine conflict, Julius Berger Nigeria Plc, Nigeria’s engineering construction industry leader, continues to perform brilliantly and has achieved exceptional financial performance in the year ended December 31, 2021.
The favourable result includes and evidences vast improvements in terms of revenue accruals, cash flow stability and positive result for shareholders.
The ever-reliable construction company recently announced the results of its consolidated audited financial statements for the year stating that the Group’s revenue grew from N241.8 billion in 2020 to N338.8 billion in 2021, representing an increase of 40%.
“The rise in revenue underlines the strong position of Julius Berger Nigeria Plc within the construction industry and its ability to execute its projects at an excellent pace and to the satisfaction of its clients,” the company said.
As a further boost to the top-line growth, the Group increased its Profit Before Taxation from N3.9 billion in 2020 to N14.2 billion in 2021 while the Profit After Taxation rose from N1.2 billion to N8.3 billion in the year under review.
Following the commendable financial result and positive cash status for the year ended December 31, 2021, the company’s Board of Directors recommend a dividend of N2.50K per 50K share, resulting in a total gross dividend pay-out of N4 billion.
Highlights of the results show that Julius Berger Nigeria’s revenue grew by 40% to N338.81 billion with Operating Profit rising by 81% to 22.67 billion. Also Earnings Before Interests and Taxes, EBIT margin improved by 154 bps while Finance Cost grew by 14% relative to Revenue Growth (40%) just as the company’s Net cash position improved by 168% to N41.42 billion. The net favourable effect is that, it can be noted that 2021 was a successful business year, and the company was able to return to its 2019 growth path despite the difficulties of the year 2020 given the disruptions occasioned by the COVID-19 pandemic
Deriving from Julius Berger’s impressively successful financial year 2021 results, analysts across the market spectrum are positively upbeat and unanimous in opinion that the Julius Berger Group is well prepared for any new or potential headwinds that may result from a combination of both ongoing supply-chain impediments arising from the COVID-19 pandemic, and multiplier effects of the Russia-Ukraine conflict.
Julius Berger Nigeria Plc is a leading Nigerian company offering holistic services covering the planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects in Nigeria. Since its pioneer project in 1965, Julius Berger has played a pivotal role in the development of Nigeria’s industrial and civil infrastructure. The company specialises in executing complex works requiring the highest level of technical expertise and Nigeria-specific knowhow.
FEDERAL GOVERNMENT APPLAUD JULIUS BERGER AS FINANCE MINISTER WATCH ENGINEERING CONSTRUCTION LEADER CAST AND CONNECT LAST SPAN TO COMPLETE CONSTRUCTION OF SOLID 2ND RIVER NIGER BRIDGE
– Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed
The Federal Government last Saturday in Onitsha once again applauded the nation’s infrastructure construction leader, Julius Berger Nigeria Plc, for the company’s uncommon and productive commitment to successful projection implementation as well as for its engineering genius, which the government called ‘excellent’.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who was visiting the 2nd River Niger Bridge project to see the extent the works had progressed also witnessed the history-making final concrete casting that connected the last span of the bridge to technically complete the construction of the bridge by Julius Berger.
Mrs. Zainab Ahmed also hailed the Nigerian Sovereign Investment Authority, (NSIA) over its work on the second Niger Bridge. Other senior government officials on the honourable Minister’s entourage to the project site included the Chairman, Board of Directors of the Nigerian Sovereign Investment Authority, Mr. Farouk Gumel, and the NSIA Managing Director, Uche Orji. The Deputy Governor of Anambra state, Gilbert Onyekachukwu Ibezim, also joined in inspecting the Project. The Minister’s visit is the second in approximately three weeks, coming after President Muhammadu Buhari, represented by his Chief of Staff, Professor Ibrahim Gambari, also conducted an inspection visit to the project works. The Project, which is under construction by Julius Berger Nigeria Plc, is being administratively oversighted by the NSIA with funding from the Presidential Infrastructure Development Fund (PIDF).
Speaking shortly with the media after the inspection, the Minister described the second Niger Bridge as a very significant project for the Federal Government, because of the geo-integrative and huge developmental impact, which the project would have on the socio-economic lives of Nigerians. She expressed satisfaction with the timely pace and premium quality of the job done by Julius Berger under the committed administrative oversight of the NSIA.
In the words of the honourable Minister, “Today is a very significant day in the construction circle of the Second Niger Bridge. This is one of the most iconic Projects in the Country … the significance of today is that the two ends of the Bridge are being put together, and this is the final phase of the work in truly completing the project and finishing the work. Technically, I can report to Mr. President that I have seen where all the billions have gone. This is a Project that is very dear to the President and it is designed to uplift the lives and livelihood of people of the South-East and other parts of the Country.”
The minister further said, “We hope that when this Project comes on stream, it will ease traffic, enhance commercial activities and improve the lives of the people.
Commending Julius Berger for its operational gender sensitivity, the honourable Minister said, “I am also happy to see the ladies I am seeing working on the construction site; it’s not all men. Julius Berger has brought some very unique innovations in the construction of this Project and I want to on behalf of the Government and people of Nigeria applaud the skills of the construction workers that have been working on this site.” Ahmed said that through the Project, the Federal Government has been able to create about 20,000 jobs at the construction site.
Turning to the Julius Berger project director for the 2nd River Niger Bridge, the honourable Minister said, “Wieser, congratulations for an excellent job done on this project by you and your workers. You have justified our investment in this project. Well done. We shall visit you again, soon, when we shall escort the President, Muhammadu Buhari to commission this significant bridge.”
Commenting on the Project, also, the Chairman of the Nigerian Sovereign Investment Authority (NSIA), Mr. Farouk Gumel, also expressed satisfaction with the implementation of the project. Gumel said, “…the (NSIA) Board is pleased with the quality and pace of work. Undoubtedly, the 2nd Niger Bridge is a vital piece of national infrastructure. At completion, we expect that it will serve as an enabler to cross-regional economic activities and stimulate growth on a national scale.”
In his remarks at the event, the NSIA Managing Director, Mr. Uche Orji, said, “…the Presidential Infrastructure Development Fund (PIDF) is a special fund set up by President Muhammadu Buhari, and is managed by the NSIA. The NSIA brought some of its own capital and the capital provided by FG.” Other projects funded by the PIDF include the ongoing Abuja-Kaduna-Kano Road (AKR) and the Lagos-Shagamu Expressway (LSE) projects.
The Managing Director of Julius Berger Nigeria Plc, Engr. Dr Lars Richter, who was unavoidably out of jurisdiction, was strongly represented at the honourable Minister’s visit by a delegation led by the company’s executive director, corporate development, Mr Tobias Meletschus. Other senior company officials on the team included the CEO of Julius Berger International in Germany, Dr Pierre Lubasch, Abuja Regional Manager, Engr. Oliver Berger, the 2nd River Niger Bridge project director, Engr. Friedrich Wieser, Senior Management Staff, Dr Abdulazeez Kaita, the Head of Media Relations, Prince Moses Duku and the Head of Corporate Communications, James Agama, amongst others.
JULIUS BERGER INCREASES CSR PROJECTS, BUILDS WATER BOREHOLES AND TOILETS FOR SCHOOLS AT ABUJA-KANO ROAD PROJECT CORRIDOR
In continuation of its determination to touch the lives of communities and strong commitment’s to its Corporate Social Responsibility in its operational sites, Julius Berger Nigeria Plc has again donated boreholes and toilets to schools on its Abuja-Kano Road Project corridor.
At Government Girls Secondary School, Yadakwari, the excitement that enveloped the entire school made up of over 800 students caught up with the teachers and community leaders who also sang praises of Julius Berger Nigeria Plc “for its very healthy sense of Corporate Social Responsibility by which it gives back to benefit its host communities.”
After a brief introduction by the Leader of Julius Berger CSR team at the event, Engr. Yusuf Ibrahim, the Principal of the school, Wasila Shuaibu, who appreciated the gesture stated: “We are very pleased with the outstanding contributions made by Julius Berger. We now have borehole and toilets in our school premises. To others, it might be a small one, but to us here at Government Girl’s Secondary School, it is a very big move made by the company. On behalf of the Management and students, we say a very big thank you to the construction giant for finally putting smiles on our faces.”
The Village Head of Yadakwari, Mohammed Daniya Ibrahim, who was also present at the event said, “Good water has been one major problem of the Community and I’m extremely grateful to Julius Berger Nigeria Plc for extending its effort to provide us with good water that will not just benefit the school, but the Community at large. Now, we can comfortably have good water to take home to our children and families.”
At the Government Junior Secondary School Co-exist, Tariwa, Kano State, it was also commendation galore for Julius Berger’s CSR efforts even as students and National Youth Corp Members danced and sang praises to Julius Berger, displaying appreciation placards.
The Head Teacher of the school, Mallam Iliyasu Ibrahim, was effusively full with thanks and prayers for Julius Berger. “…on behalf of the Staff, Parents and the Pupils of Government Junior Secondary School, Tariwa, I say thank you for what you have done for us, and we pray that God in His infinite mercies bless you richly. The company shall grow higher and God’s favour will not elude you.” An excited Corp member, Mr. James Dantata, said, “we really love the work done here by Julius Berger, the company has a way of doing its Corporate Social Responsibility often and taken it to the rural areas as well. Thank you for bringing quality water to us here. We will also like to extend our sincere gratitude to the Management of Julius Berger, please accept our sincere appreciation and thank you for your kind CSR gesture.”
The Representative of the Village Head of Tariwa, Ado Lawal, who was also present at the event said, “The Village Head extends his gratitude to the management of Julius Berger Nigeria Plc for the newly constructed borehole and toilets. Words won’t be able to show how happy we feel. I pray God rewards the company and continuously bless the works of their hands. Once again, Thank You.”
The Julius Berger delegation to the event was led by the AKR Project Coordinator, Engr. Yusuf Ibrahim. Other JBN Officials included, Content Writer, Corporate Communications, Michael Ashofor; and Press Relations Officer, Olivia Uzoma.
Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “direct the Minister of Communication and Digital Economy, Isa Pantami, and the Nigerian Communications Commission (NCC) to immediately reverse the apparently unlawful decision to block over 72 million active telecommunication subscribers from making calls on their SIMs.”
Last week, the Federal Government ‘ordered’ telecommunications companies to block outgoing calls on all unlinked lines as the deadline for the verification expired on March 31. Following the directive, over 72 million subscribers have now been barred from making calls.
In the open letter dated 9 April, 2022 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “Blocking people from making calls undermines their ability to communicate freely, and associate with others. It infringes their rights to freedom of expression and family life, as well as socio-economic rights.”
SERAP, “The decision will have a chilling effect, dissuading the free expression of ideas and information.”
According to SERAP, “The decision to block people from making calls is also inconsistent and incompatible with the country’s international legal obligations to respect, protect, promote and facilitate economic and social rights. The decision contradicts the tenets of the rule of law, and a democratic society.”
SERAP said, “Immediately reversing the decision would be in conformity with the Nigerian Constitution of 1999 [as amended], and Nigeria’s international human rights obligations. Reversing the decision would also improve the confidence of the international community in human rights and the rule of law in Nigeria.”
The letter, read in part, “Access to telecommunications services is a condition sine qua non for the effective exercise of human rights. Therefore, the decision to block people from making calls is discriminatory, and a travesty.”
“The decision will cause a wide variety of harms to economic activity, personal safety, and disproportionately affect those on the margins of society. This will directly hinder the ability of the government to achieve the 2030 Agenda’s Goal 8 on the promotion of sustained, inclusive, sustainable economic growth.”
“Millions of Nigerians including persons with disabilities, elderly citizens, persons living in remote areas have been unable to capture their biometrics, and obtain their National Identity Numbers [NINs] due to logistical challenges, administrative and bureaucratic burdens, as well as the persistent collapse of the national grid.”
“This has resulted in the discrimination of marginalized or vulnerable groups.”
“We would be grateful if the decision to block people from making calls on their SIMs is reversed within 48 hours of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions in the public interest to ensure full compliance with human rights standards.”
“The rights to freedom of expression, access to information, and freedom of association, whether offline or online promote the democratic ideal by allowing citizens to voice their concerns, challenge governmental institutions, and hold government accountable for its actions.”
“The democratic ideal rationale also recognizes the necessity of having a well-informed citizenry to participate in the democratic process.”
“We support any lawful means to address the growing insecurity across the country. However, while the authorities have a legal responsibility to protect, ensure and secure the rights to life and property, any such responsibility ought to be discharged in conformity with human rights standards.”
“While we recognize the need for your government to take measures to ensure security and safety of the people in the country, we are seriously concerned that the decision to block people from making calls appears to go beyond the restrictions on the rights to freedom of expression, information, and association.”
“The rights to freedom of opinion and expression and access to information are protected under section 39 of the Nigerian Constitution, article 19 of the International Covenant on Civil and Political Rights and article 9 of the African Charter on Human and Peoples’ Rights (Ratification and Enforcement) Act.”
“These rights must be protected online as it is protected offline. Any restriction on these rights must be provided by law, be necessary in a democratic society and serve a legitimate aim.”
“The UN Human Rights Committee has stated that when a state party invokes a legitimate ground for restriction of human rights, it must demonstrate in specific and individualized fashion the precise nature of the threat, and the necessity and proportionality of the specific action taken, in particular by establishing a direct and immediate connection between the expression and the threat.”
“The decision to block over 72 million subscribers from making calls on their SIMs also amounts to an arbitrary or unlawful interference with their right to family life, and socio-economic rights, as it unnecessarily or disproportionately interferes with these fundamental human rights.”
“According to our information, your government recently directed telecommunication companies in the country to block over 72 million active telecommunication subscribers from making calls on their SIMs. The ‘order’ to the telecommunications companies was apparently to enforce compliance with the Federal Government’s National Identification Number-Subscriber Identity Module policy.”
“The policy effectively restricted outgoing calls on all unlinked lines, effective April 4, 2022.”
“We are concerned that the decision to block Nigerians from making calls will have a disproportionate chilling effect on vulnerable groups that rely on such peaceful means to communicate, and convey their opinions and views.”
“SERAP is concerned that the decision appears to be arbitrary, and lack any legal framework, independent and judicial oversight. This may allow authorities to act in an unfettered and potentially arbitrary or unlawful manner.”
“The decision to block people from making calls also does not appear to be the least intrusive instrument available to the government to achieve the desired results, i.e., the maintenance of national security and public safety.”
“The decision is also not proportionate to the perceived goal to be achieved, as it is not appropriately tailored to achieve its protective function in the least intrusive manner.”
“The mass disconnection of telephone subscribers from making calls is apparently without any legal justification. It is a form of collective punishment of the people affected by the decision.”
“Under international human rights, States including Nigeria ‘shall not engage in or condone any disruption of access to digital technologies for segments of the public or an entire population.’ States must refrain from cutting off access to telecommunications services.”
Kolawole Oluwadare
SERAP Deputy Director
10/4/2022
Lagos, Nigeria
Emails: info@serap-nigeria.org; news@serap-nigeria.org
Twitter: @SERAPNigeria
Website: www.serap-nigeria.org
For more information or to request an interview, please contact us on: +2348160537202
Northern leaders caution Soyinka on Omisore, APC
Stakeholders in the politics of the North-East geo-political zone on Thursday reacted to the spate of criticisms and outright falsehood against the National Secretary of the All Progressives Congress (APC), Senator Iyiola Omisore, saying it was in bad faith.
The leaders described Omisore as a man of profound moral rectitude.
The leaders in a statement in Damaturu, capital of Yobe State, said influential Yoruba leaders should rise in condemnation of the uncomplimentary remarks on Omisore, crude propaganda and the obviously desperate moves to please his paymaster, a former South-South Governor and a major donor to the Nobel laureate’s organisation that twisted the minds of many young Nigerians most of whom are now adults regretting toeing the path of Prof Soyinka in their teenage years.
‘’The current posturing of Prof. Wole Soyinka is totally in bad taste and drips with malice .He is attacking Omisore on account of the inability of his benefactor to hijack the national leadership of the party, which he fears will deny the former South-South governor the opportunity to become the presidential candidate of the party without any positive track record of performance in governance.
The statement by the chairman of North-East Unity and Advancement Forum (NEUAF), Alhaji Ibrahim Musa, commended the APC National Secretary for his invaluable contributions to Nigeria’s development and the challenging task of nation-building.
‘’Senator Omisore is a patriot, a thinker and a fighter for good causes’’
The statement cited Omisore for honesty, industry and patriotism.
The group also praised President Muhammadu Buhari and the esteemed members of the ruling party for electing Omisore the party’s National Secretary.
The statement emphasized Omisore’s rich and inspiring profile, meritorious services to the nation and humanity, peaceful disposition and gentility.
The leaders accused Soyinka of dabbling into politics, threatening thunder against Omisore, whilst encouraging mediocrity and protecting a former South-South governor for supporting him in the last ten years.
‘’We know the tactics of Wole Soyinka. He likes to grandstand as an independent man. Many believe he is speaking for the people, campaigning for good governance and quality leadership while the reverse is the case. There are many questions begging for answers in Soyinka’s relationship with the ex-South-South governor for anyone to take him seriously’’
‘’Wole Soyinka knows that his sponsor is a weakling who obviously finds himself where he doesn’t belong’’
They argued that Soyinka’s recent remark on Omisore was borne out of selfishness but warns that Nigeria is not for sale.
‘’The energy and vigour with which Soyinka undertook a fierce political crusade against the APC National Secretary left no one in doubt that his target was to divide the ruling party, draw Omisore into a controversy and then distract him’’
The leaders urged Soyinka to stop chasing shadows that would definitely not help the cause of a current minister and former governor in the South-South geo-political zone.
‘’We have watched in astonishment how Soyinka turned himself into such a burden to the former South-South governor’’
Wole Soyinka recently lashed out at Omisore on account of the choice of the ruling party to elect the former Osun State deputy governor its National Secretary.
‘’Wole Soyinka ought to be more decent with his choices of words in addressing Omisore and should not undermine the fact that his sycophancy might land him into trouble’’
JULIUS BERGER INCREASES CSR PROJECTS, BUILDS WATER BOREHOLES AND TOILETS FOR SCHOOLS AT ABUJA-KANO ROAD PROJECT CORRIDOR
In continuation of its determination to touch the lives of communities and strong commitment’s to its Corporate Social Responsibility in its operational sites, Julius Berger Nigeria Plc has again donated boreholes and toilets to schools on its Abuja-Kano Road Project corridor.
At Government Girls Secondary School, Yadakwari, the excitement that enveloped the entire school made up of over 800 students caught up with the teachers and community leaders who also sang praises of Julius Berger Nigeria Plc “for its very healthy sense of Corporate Social Responsibility by which it gives back to benefit its host communities.”
After a brief introduction by the Leader of Julius Berger CSR team at the event, Engr. Yusuf Ibrahim, the Principal of the school, Wasila Shuaibu, who appreciated the gesture stated: “We are very pleased with the outstanding contributions made by Julius Berger. We now have borehole and toilets in our school premises. To others, it might be a small one, but to us here at Government Girl’s Secondary School, it is a very big move made by the company. On behalf of the Management and students, we say a very big thank you to the construction giant for finally putting smiles on our faces.”
The Village Head of Yadakwari, Mohammed Daniya Ibrahim, who was also present at the event said, “Good water has been one major problem of the Community and I’m extremely grateful to Julius Berger Nigeria Plc for extending its effort to provide us with good water that will not just benefit the school, but the Community at large. Now, we can comfortably have good water to take home to our children and families.”
At the Government Junior Secondary School Co-exist, Tariwa, Kano State, it was also commendation galore for Julius Berger’s CSR efforts even as students and National Youth Corp Members danced and sang praises to Julius Berger, displaying appreciation placards.
The Head Teacher of the school, Mallam Iliyasu Ibrahim, was effusively full with thanks and prayers for Julius Berger. “…on behalf of the Staff, Parents and the Pupils of Government Junior Secondary School, Tariwa, I say thank you for what you have done for us, and we pray that God in His infinite mercies bless you richly. The company shall grow higher and God’s favour will not elude you.” An excited Corp member, Mr. James Dantata, said, “we really love the work done here by Julius Berger, the company has a way of doing its Corporate Social Responsibility often and taken it to the rural areas as well. Thank you for bringing quality water to us here. We will also like to extend our sincere gratitude to the Management of Julius Berger, please accept our sincere appreciation and thank you for your kind CSR gesture.”
The Representative of the Village Head of Tariwa, Ado Lawal, who was also present at the event said, “The Village Head extends his gratitude to the management of Julius Berger Nigeria Plc for the newly constructed borehole and toilets. Words won’t be able to show how happy we feel. I pray God rewards the company and continuously bless the works of their hands. Once again, Thank You.”
The Julius Berger delegation to the event was led by the AKR Project Coordinator, Engr. Yusuf Ibrahim. Other JBN Officials included, Content Writer, Corporate Communications, Michael Ashofor; and Press Relations Officer, Olivia Uzoma.