By Adedapo Adesanya
The largest syringe maker in Nigeria, Jubilee Syringe Manufacturing (JSM) company, has halted its operations in the country citing “unforeseen circumstances affecting our business operations.”
The manufacturer located in Awa, Onna LGA of Akwa Ibom, was inaugurated in 2017 by former Vice President, Mr Yemi Osinbajo, under President Muhammadu Buhari’s first term.
It was announced that the company stopped production many months ago, but it finally announced the end of operations on December 31, 2023.
The company said it had to implement temporary measures to ensure the company’s long-term sustainability.
In a memo addressed to all the workers, workers were placed on temporary redundancy effective January 1, 2024.
The statement titled Temporary Redundancy – Service Not Needed Till Further Notice said, “We trust this message finds you in good health. It is with a heavy heart that we write to you today to communicate a challenging decision that Jubilee Syringe Manufacturing Company Limited has had to make due to unforeseen circumstances affecting our business operations.
“After careful consideration and a thorough evaluation of our current business situation, we regret to inform you that we must implement temporary measures to ensure the long-term sustainability of the company.”
It added, “Unfortunately, this includes placing all positions, including yours, on temporary redundancy effective January 1, 2024. We want to emphasise that this decision is not a reflection of your individual performance or dedication to the company.
“The challenging business environment we find ourselves in has compelled us to take these difficult steps.
“Please return all company belongings in your custody. Thank you for your understanding and cooperation during these challenging times.”
Earlier, Business Post, had reported that the Director General of the Manufacturers Association of Nigeria (MAN), Mr Segun Kadir-Ajayi, said the business environment would be challenging following trends from last year.
He, however, called for a positive policy direction to help halt the headwinds and boost the contribution of the sector to the country’s economy.
