After 6 years of proper and intense business, the largest manufacturer of syringes in Nigeria, Jubilee Syringe announces that it will have to close up finally.
The syringe manufacturing company which has always been in Akwa Ibom state, Nigeria was founded in 2017 and launched by the former president of Nigeria, Yemi Osibajo.
According to reports gathered, the company had no choice but to stop business due to some circumstances that have affected the growth of the business.
Reportedly, Jubilee Syringe had stopped operations since December 31, 2023, but only made the announcements in January 2024 because according to them, they needed to put sustainable measures in place for the company before bringing the information to the notice of the public.
Per the information made available to Businessday, a memo was sent to all company employees, mentioning that all roles have been temporarily put on redundancy starting from January 1, 2024.
”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,” Jubilee wrote in the memo sent to its employees.
“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. 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,” the memo read further.
The company stressed that the decision does not reflect the individual performance or dedication of the employees. They also mentioned that the challenging business environment has forced them to take the decision.
“Please return all company belongings in your custody. Thank you for your understanding and cooperation during these challenging times,” the company added.
