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Julius Berger To Return To Construction Sites - Politics - Nairaland

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Julius Berger To Return To Construction Sites by tbaba1234: 10:07am On May 17, 2016
Julius Berger Nigeria (JBN) has said that it is returning to site on the Lagos- Shagamu expressway following the signing of the 2016 budget by President Muhammadu Buhari.

The company’s Acting Managing Director, George Marks, who disclosed this in Lagos at the weekend during the Investors Relation Forum, said the company is mobilizing to site on the strength of the provisions of the 2016 budget which was assented to last week.

“We are lifting our suspension of work at the Lagos- Shagamu expressway, the Institute for Legislative Studies and the corporate headquarters of the Economic and Financial Crimes Commission (EFCC) because we have seen adequate commitment with the amount allocated in the 2016 budget.”
JBN had earlier suspended work on the ongoing reconstruction of Section 1 of the Lagos-Sagamu-Ibadan Expressway project, and several other projects it was handling across the country owing to lack of payment from the federal government.

Marks said JBN needed to suspend work in order not to run into heavy debt crisis that would threaten the future cost prime structure of the company.
He said: “We experienced delayed payment on all levels, we have seen provision for doubtful repayment increase from N1.3 billion to N10 billion.

“ As a consequence, client inability to meet contractual obligations in a timely manner substantially impacted the industry and forced a reduction to low working load of 30 per cent, and a downsize of staff from 18,000 to 11,000,” he said.

The managing director disclosed that the Federation of Construction Industry (FOCI) have laid off 33,000 workers on public construction sites with an indirect consequence on 130, 000 others.

http://www.dailytrust.com.ng/news/property/julius-berger-to-return-to-construction-sites/146833.html?platform=hootsuite#PZFQmJ05rkZmscRs.99
Re: Julius Berger To Return To Construction Sites by theV0ice: 10:09am On May 17, 2016
That's good after abandoning the site since march 2015.

Pray they speed up the work

9 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by omowolewa: 10:11am On May 17, 2016
Okay, kudos.

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by tbaba1234: 10:27am On May 17, 2016
theV0ice:
That's good after abandoning the site since march 2015.

Pray they speed up the work

So no work since after election?

5 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by Olukokosir(m): 1:52pm On May 17, 2016
Gud....progressin

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by Tonnierichy(m): 1:52pm On May 17, 2016
Budget signed!
Sanity restored!
Sai Buhari

32 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by Joyce28(f): 1:52pm On May 17, 2016
That sounds good to hear smiley

2 Likes 2 Shares

Re: Julius Berger To Return To Construction Sites by haywire1: 1:52pm On May 17, 2016
Time to dust my boot cos we r back in business grin grin grin grin

#

12 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by doskie(m): 1:53pm On May 17, 2016
The boss is indispensable. Now face his new price.
Re: Julius Berger To Return To Construction Sites by MVLOX(m): 1:53pm On May 17, 2016
Dat is d power of the budget....oya let work begin sharp sharp

13 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by Generalkorex(m): 1:54pm On May 17, 2016
Ok
Re: Julius Berger To Return To Construction Sites by Festysnow: 1:57pm On May 17, 2016
Wonderful development

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by theV0ice: 1:58pm On May 17, 2016
tbaba1234:


So no work since after election?

In fact, before elections

5 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by Johnnoo(m): 1:58pm On May 17, 2016
angry

3 Likes

Re: Julius Berger To Return To Construction Sites by desmond249(m): 1:59pm On May 17, 2016
cool at least one positive news

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by jtjohn(m): 2:00pm On May 17, 2016
Nice one

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by modath(f): 2:00pm On May 17, 2016
That is what "reflating" the economy really entails... improving the lives of the people and also putting money back in circulation.

7 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by Nobody: 2:02pm On May 17, 2016
Okay.

Let FG pay contractors abeg..
Re: Julius Berger To Return To Construction Sites by ritababe(f): 2:03pm On May 17, 2016
what about the other road budget?
Re: Julius Berger To Return To Construction Sites by Abacharles(m): 2:04pm On May 17, 2016
Does that mean that those abandoned sites were not in the budget of the year they got the contract.... #justingthinkingoutloud

1 Like

Re: Julius Berger To Return To Construction Sites by Michaelgates(m): 2:05pm On May 17, 2016
Praise God...

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by Chukzyfcb(m): 2:05pm On May 17, 2016
As an Igbo boi, all I can tell you is. Now is the time to buy julius berger shares, coz its bound to rise with the budget in its favour.
Re: Julius Berger To Return To Construction Sites by buharisbae(f): 2:08pm On May 17, 2016
Another story for wailers today embarassed

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by modath(f): 2:10pm On May 17, 2016
Abacharles:
Does that mean that those abandoned sites were not in the budget of the year they got the contract.... #justingthinkingoutloud


2015 budget didn't "remember" such "small" things.. smiley

3 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by kunta2simple: 2:13pm On May 17, 2016
Sai baba.

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by Lanre01(m): 2:15pm On May 17, 2016
grin grin
Re: Julius Berger To Return To Construction Sites by Nobody: 2:17pm On May 17, 2016
Is good news, the reputable company was almost reduced to nothing due to that clueless ogogoro master from otuoke, the situation is bad in ph that company had to rent out their equipment to to stay afloat.

5 Likes 1 Share

Re: Julius Berger To Return To Construction Sites by MzMercie: 2:28pm On May 17, 2016
Thank God, saying bye to dat 'death-trap' gradually

1 Like

Re: Julius Berger To Return To Construction Sites by Freespirit89(m): 2:29pm On May 17, 2016
Great news

1 Like 1 Share

Re: Julius Berger To Return To Construction Sites by GeneviveHuby: 2:32pm On May 17, 2016
It's one thing to return to site; it's another thing to deliver as at when due. Go and deliver before I believe it. You don't just call for attention because Fashiola told you to do so.
Re: Julius Berger To Return To Construction Sites by SafetyFirst(m): 2:50pm On May 17, 2016
It looks like things are beginning to go back to normal, SMALL SMALL o!!!

5 Likes 1 Share

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