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From Joe Effiong, Uyo
Jubilee Syringe Manufacturing (JSM), one of the companies established by the Udom Emmanuel administration in his hometown, Awa, Onna Local Government Area of Akwa Ibom State, has closed shop over “unforeseen circumstances affecting our business operations.”
The company was inaugurated by then vice president, Prof Yemi Osinbayo in 2017, and touted as the largest syringe manufacturing company in Africa.
Daily Sun learnt that the eventual announcement of suspension of operations was just to formalise the company’s inactivity as it had quietly stopped production in the second quarter of 2023, but had to officially place a stamp of redundancy by announcing on December 31, 2023 that it had “to implement temporary measures to ensure the long term sustainability of the company.”
In a memo titled: “Temporary Redundancy – Service Not Needed Till Further Notice” addressed to all the workers, the company stated that all positions including “yours have been placed on temporary redundancy effective January 1, 2024.”
The memo read in part: “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.”
The Managing Director, Akin Oyediran, is reported to have said in April, 2023, 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.’’ The MD was quoted as saying.
Apart from Ibom Air, the syringe company was largest of the private companies established by the Emmanuel administration, most of which, like electricity metering company, the flour mill, the plywood manufacturing company were in his hometown, except St Gabriel Coconut Refinery at Mkpat Enin and the revamped Peacock Paint Industry at Etinan.
Most of the companies, regarded as political establishments, never produced beyond the first six months.
