Business
52ND AGM: JULIUS BERGER DELIVERS HIGHEST DIVIDEND IN FIVE YEARS
52ND AGM: JULIUS BERGER DELIVERS HIGHEST DIVIDEND IN FIVE YEARS
By Olorunfemi Adejuyigbe
L-R: Corporate Development Director, Tobias Meletschus, Company Secretary, Barr. Mrs Cecilia Madueke, Managing Director, Engr. Dr. Lars Richter, Chairman JB Nigeria, Mr. Mutiu Sunmonu, Director, Mrs Belinda Ajoke Disu, Chairman Julius Berger International, Dr. Ernest Azudialu-Obiejesi, Vice Chairman, Dr George Marks, Director Administration, Alh. Zubairu Ibrahim Bayi, and Financial Director, Christian Hausemann at the Julius Berger Annual General Meeting recently
Inside the venue of the 52nd Annual General Meeting of Julius Berger Nigeria Plc in Abuja recently, the excitement was pervasive and palpable. Dr Ernest Azudialu Obiejesi, chairman of Julius Berger International, beamed and buoyed in pride as the construction behemoth he superintends its international operations, once again, defied the headwinds of the 2021 financial year to meet its targets. His joy is understandable.
For the first time in five years, the foremost engineering construction company paid out its highest dividend to shareholders. Mr. Mutiu Sunmonu, Chairman of the Board of Julius Berger Nigeria PLC, said that although the company had challenges in the 2021 financial year, it excelled and overcame the challenges by dint of hard work and unflinching commitment to success by the management and staff.
While presenting the Consolidated Financial Statements of the year under review, Sunmonu said that Julius Berger Nigeria Plc performed positively despite the numerous macro-economic hiccups which affected businesses during the year. He added that the company achieved exceptional financial performance, meeting targets for both revenue and cash flow. “One for those challenges, of course, is COVID-19, which remains ever present in our personal and professional lives – with prolonged consequences. Unfortunately, we are unable to put this virus behind us just yet,” he said.
The chairman declared that while 2021 was certainly a challenging year, “It was also a dynamic and industrious year. Within our core construction business, we made meaningful progress across our portfolio of private and public projects.” He listed the projects to include the International Worship Centre, Uyo; the Office of the National Security Adviser in Abuja, and the Bodo-Bonny Road as well as infrastructure projects in Lagos and Rivers States, where Sunmonu added that the company supported the state governments “to achieve a remarkable infrastructure transformation within the year.”
Underscoring the shining example of trust the federal government placed on Julius Berger, the chairman harped on the priority projects of the government being financed via the Presidential Infrastructure Development Fund, saying that the company forged ahead with all of them including the Second River Niger Bridge and the Abuja-Kano Road “with our values, standards and capacities remaining core to our competitive edge.”
He stated that Julius Berger Nigeria Plc closed for the year under review “with a Lost Time Injury Frequency Rate of 0.19, equivalent to our 2020 results,” and that the various subsidiaries of the group also made reasonable progress in 2021.
Sunmonu promised that in 2022, “We will continue to work hard, remain resilient and champion progress in regard to the potentials ahead of us. We do not underestimate the effort or the endeavour it will take to achieve our vision, but we also do not underestimate our collective diligence and determination.”
In his remarks to shareholders at the AGM, the Managing Director, Engr. Dr Lars Richter disclosed that the company stood strong in the year under review as the shareholders approved a N2.50k per share dividends. He said that the three pillars of Julius Berger’s business strategy – the core business, group subsidiaries and diversification – have remained central to all operations even as he shared an update on the company’s sustainability and inclusivity efforts, as well as on the company’s outlook for 2022 and beyond.
Richter declared, “Julius Berger continues to stand strong, our values are firmly in place and our reputation for reliable and quality delivery remains unmatched…. And within our core business we continue to realize meaningful progress across our portfolio of projects as a foundation for our continued success and growth.”
On the business trajectory of the company, Richter said Julius Berger continues to acquire new projects for major clients such as the Nigerian National Petroleum Corporation, Lagos and Port Harcourt State, the Federal Ministry of Works. Dr Richter also listed some successfully commissioned major projects to include the Bill & Melinda Gates Foundation office, several flyovers and civil infrastructural works in Port Harcourt; and the Rehabilitated Control Towers at Tincan Island and the Lagos Port Complex.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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