The Management of Jubilee Syringe Manufacturing Limited (JSM) in Awa Iman community in Onna local government area of Akwa Ibom State has denied closing shop in Nigeria, rather insisting that the suspension of operations is simply to restructure.

This clarification followed media reports of laying off workers due to “Unforseen Circumsmtances”and shutting shop. The Jubilee Syringe factorwa was inaugurated on September 23, 2017 by former Vice President Yemi Osinbajo, after it was completed by the immediate past administration of Governor Udom Emmanuel.

Some key investors said the company since inception had become the market leader with its top quality syringes in Nigeria in addition to creating employment opportunities for Akwa Ibom people and other Nigerians, but regretted that “despite the huge sum invested in the syringe factory, the management staff have been unable to meet up with its expected target.”

On of the investors said the decision to suspend operations is to “restructure and re-organise the management team and the entire structures of the production lines for better profitability and sustainability.”

On behalf of the JSM investors, the managing director of the VKS Group of Companies, Mr Onur Kumral, dismissed the reports that JSM was ending its operations in the country completely. He said contrary to the reports, “the company is only undergoing a restructuring phase which will make it experience a brief break within this period.”

Kumral said the re-organisation is a decision of the investors following the inability of the management to meet up with its expected targets, stressing that the shake-up only affects the management staff and the entire structures of the production line, which is geared towards better productivity of the company. He assured that the company will return to full operations soon.