Jubilee Syringe Manufacturing (JSM), situated in Awa within the Onna Local Government Area of Akwa Ibom State, has ceased its operations, attributing the decision to unforeseen circumstances significantly impacting its business operations.
The company was heralded as the largest syringe manufacturing venture in Africa, commenced operations in 2017, and was inaugurated by former Vice President Yemi Osinbajo.
Despite halting production several months ago, the formal announcement regarding the conclusion of operations was made on December 31, 2023, with the company citing the necessity to implement temporary measures for its long-term sustainability.
In a memo addressed to all employees, a copy made available to the media, the company announced that all positions, including those of the recipients, had been placed on temporary redundancy effective January 1, 2024.
Titled “Temporary Redundancy – Service Not Needed Till Further Notice,” the statement expressed regret over the challenging decision, attributing it to unforeseen circumstances impacting the company’s business operations.
It assured employees that the action was not a reflection of individual performance or dedication but was necessitated by the company’s difficult business environment.
“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,” part of the memo read.
Who said that the year 2024 is going to be glorious in Nigeria?