Jubilee Syringe Manufacturing Company touted as the largest syringe manufacturing venture in Africa, has officially ceased operations.
The company, located in Awa, Onna Local Government Area of Akwa Ibom State, ended operations on December 31, 2023, attributing the decision to “unforeseen circumstances affecting our business operations.”
Formerly inaugurated in 2017 by the then-Vice President Yemi Osinbajo, Jubilee Syringe Manufacturing Company had been a significant player in the healthcare industry.
However, despite its stature, the company had halted production several months before making the final announcement.
In a memo addressed to all its employees, the company expressed regret over the challenging decision it had to make.
The statement, titled ‘Temporary Redundancy – Service Not Needed Till Further Notice,’ outlined that all positions, effective January 1, 2024, were placed on temporary redundancy as a part of the measures taken to ensure the long-term sustainability of the company.
“We trust this message finds you in good health. It is with a heavy heart that 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,” the memo stated.
The challenging business environment, as cited in the company’s communication, necessitated these difficult steps, emphasizing that the decision was not a reflection of individual performance or dedication.
“Please return all company belongings in your custody. Thank you for your understanding and cooperation during these challenging times,” the memo concluded.
Jubilee Syringe Manufacturing Company’s closure raises questions about the impact on the healthcare supply chain, considering its significant role in providing medical equipment, especially during the ongoing global health challenges.
The development underscores the complex dynamics businesses face and the need for resilience in navigating unpredictable market conditions.