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Julius Berger Nigeria Plc has formally exited the agro-processing sector, agreeing to lease its cashew nut processing facilities to Eko Organic Food Industries Limited as part of a strategic shift back to its engineering roots.
The company’s board approved the decision on September 24, 2025, drawing a line under a five-year diversification experiment that began in 2020 when Julius Berger set up the cashew operation to broaden its revenue beyond civil engineering and infrastructure.
In a disclosure to the Nigerian Exchange, the board explained that transferring the facilities to a dedicated agro-processing firm allows Julius Berger to concentrate on strengthening its core construction business while still deriving value from non-core assets.
By ceding operational control to Eko Organic Food, the company ensures the continuation of the cashew enterprise without the burden of running it directly.
Market analysts view the move as a prudent retreat. “Agro-processing was ambitious, but Julius Berger’s competitive advantage lies in construction.
Offloading the cashew operations lets them focus on what they do best,” said Aruna Kebira, CEO of Globalview Capital Ltd. Financial details of the lease were not disclosed, but observers believe the arrangement will free capital and management time for infrastructure projects, which remain in high demand across Nigeria.
For Eko Organic Food, the agreement provides an established facility to expand within the cashew value chain, a market with strong export potential.
Julius Berger, meanwhile, emphasised that the decision does not signify a total withdrawal from new ventures but rather reflects a disciplined approach to diversification—one that seeks opportunities aligned with its brand and technical strengths.
