Julius Berger Nigeria has reaffirmed its commitment t to delivering transformative infrastructure projects that align with Nigeria’s developmental priorities.
According to a statement by the Head, Corporate Communication of the German construction company, Emieseifa James Agama, the Bodo-Bonny Road project exemplifies the company’s unwavering commitment to progress, despite significant operational and financial challenges.
 
The statement reads: “Extreme inflation, rising input costs, and FX volatility necessitated the declaration of Force Majeure and the suspension of works in November 2023. Nevertheless, Julius Berger resumed work in good faith in August 2024, five months before the formal execution of the contract, following a verbal agreement with the Federal Ministry of Works to adjust the contract value from N200 billion to N280 billion.
 
“Although inflationary pressures on materials have risen between 200 per cent and 600 per cent (and even higher in some cases), the relatively modest adjustment to the contract value was a welcome step. Julius Berger’s acceptance at the time reflects our commitment to addressing challenges impacting projects and fostering mutual agreements with the Federal Government to ensure their successful delivery.

Agama said that the absence of a tripartite funding agreement between the Federal Government, Nigerian Liquefied Natural Gas (NLNG) and Julius Berger continues to impact payments, requiring Julius Berger to pre-finance significant portions of the project. He noted that despite these challenges, the company has continued to make progress, including through the Yuletide season, reaffirming our commitment to delivering this critical national asset.