Jubilee Syringe Manufacturing Ltd has refuted claims suggesting the closure of its operations in Nigeria, asserting that the company is undergoing a restructuring process to enhance its operations and sustainability.
The Managing Director of VKS Group of Companies, Onur Kumral, made this clarification in response to a previous statement that implied the shutdown of the syringe manufacturing facility in Onna, Akwa Ibom State, citing challenges posed by Nigeria’s economic environment.
Addressing concerns, Kumral, representing JSM’s investors, reassured customers about the company’s steadfast presence and commitment to maintaining its status as a leading producer of high-quality syringes in Nigeria.
Acknowledging the challenges faced by JSM since its inauguration in 2017, Kumral explained that despite being a market leader and creating numerous job opportunities, the company’s management struggled to meet expected targets.
Consequently, the investors decided to initiate a restructuring and reorganization process, focusing on the management team and production structures to achieve improved profitability and sustainability.
Kumral stated, “JSM, inaugurated on 23 September 2017, by the former Vice President of Nigeria, Professor Yemi Osinbajo, has become the market leader with its top-quality syringes in Nigeria, creating hundreds of employment opportunities for Akwa Ibom people and Nigerians at large.”
He further clarified, “However, despite the huge sum invested in the syringe factory, the management staff have been unable to meet up with its expected target, hence the decision of the investors to restructure and reorganize the management team and the entire structures of the production lines for better profitability and sustainability.”
