The firm which opened an operation in Nigeria’s South-south region of Awa in the Onna Local Government Area of Akwa Ibom State, said the decision was made following “unforeseen circumstances affecting our business operations”.
Jubilee Syringe Manufacturing (JSM), once celebrated as Africa’s syringe manufacturing company, has declared temporary redundancy in its operation in Nigeria.
The firm which opened an operation in Nigeria’s South-south region of Awa in the Onna Local Government Area of Akwa Ibom State, said the decision was made following “unforeseen circumstances affecting our business operations”.
According to BusinessDay, the company reputed to be the largest syringe manufacturing venture in Africa was inaugurated in 2017 by then-Vice President, Yemi Osinbajo.
A memo addressed to all the workers of the company, which had stopped production a long time ago, officially announced that its operations came to an end on December 31, 2022.
It said it had “to implement temporary measures to ensure the long-term sustainability of the company.”
Titled “Temporary Redundancy – Service Not Needed Till Further Notice,’’ the memo was signed by the company’s Managing Director, Akin Oyediran.
It read: “We trust this message finds you in good health. With a heavy heart, 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.
“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.”
Media reports quoted Oyediran to have said in an April 2023 interview that the company had secured a credit facility of $1 million, adding that it was due to the enabling environment the state government had been able to provide for the growth of the manufacturing sector.
“Not only have we come into this environment, we are also growing, we are doing other products. The company would in addition to syringes, manufacture gloves, masks, and infusion sets.
“Our investors are investing one million dollars in the company because of the level playing field and the advantages provided by the state government,’’ he had said.
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