Jubilee Syringe Manufacturing (JSM), Nigeria’s prominent syringe maker, has ceased operations in the country, attributing it to “unforeseen circumstances affecting our business operations.”
Located in Awa, Onna LGA of Akwa Ibom, the manufacturer, inaugurated in 2017 by former Vice President Mr. Yemi Osinbajo under President Muhammadu Buhari’s first term, officially announced the end of its operations on December 31, 2023.
The company had stopped production several months ago, implementing temporary measures for its long-term sustainability.
In a memo to all employees, the company announced temporary redundancy effective January 1, 2024. Titled “Temporary Redundancy – Service Not Needed Till Further Notice,” the statement conveyed the company’s regret for the challenging decision, stating, “After careful consideration and a thorough evaluation of our current business situation, we must implement temporary measures to ensure the long-term sustainability of the company.”
The memo continued, “Unfortunately, this includes placing all positions, including yours, on temporary redundancy effective January 1, 2024. We want to emphasize 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.”
Previously, the Director General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Kadir-Ajayi, had predicted a challenging business environment, calling for positive policy direction to counter the headwinds and enhance the sector’s contribution to the country’s economy.
