In a strategic move to refocus on its core construction business, Julius Berger has abandoned its cashew venture, marking a significant shift in the company’s operations.

The company announced today that it has leased out its cashew facilities to Eko Organic Food Industries Limited.

Cecilia Madueke, secretary of Julius Berger, announced in a statement that consequent upon the strategy of the business to be more thematic to its core business, “the Board of Julius Berger, at its meeting of September 24, 2025, took the decision to lease out its cashew processing facilities.”

According to her, the decision to lease out its cashew processing facilities was made upon mutually agreed terms to Eko Organic Food Industries Limited, whose core business would ensure the continued relevance of Julius Berge.

The decision aligns with Julius Berger’s strategy to strengthen its core business in construction and explore opportunities in other sectors.

“The goal of the Board of Directors and the Executive Management of Julius Berger remains to deliver on the strategy of maintaining and strengthening the company’s competitive advantages in the Construction sector, and any other sector it ventures into,” Madueke said.

Although the lease value is undisclosed, this arrangement comes at a time when cashew, Nigeria’s flagship export commodity, remains at the forefront of agro commodity export, attracting N625.70 billion in the first half (H1) of 2025, its highest since H1 2021.

Farmers link the surge to favourable weather that resulted in high output in the 2025/2026 cashew season.

For years, cashew stakeholders have called for more value addition in the value chain, citing that more gains will be made from exports of processed cashew nuts as opposed to raw nuts.

“We trust that the market would accept and react favorably to the information given,” the statement read.