The reported exit from Nigeria of Jubilee Syringe Manufacturing (JSM), located in Awa, Onna Local Government Area of Akwa Ibom, the largest syringe manufacturer in Africa, is yet another painful development on our national journey.

This very sad development, where multinational companies continue to exit Nigeria, should worry every concerned Nigerian. This ugly development contrasts the Government's claim that the regime is attracting investors.

I had earlier joined other Nigerians in lamenting the exit of some multinationals like GlaxoSmithKline, GSK; Procter and Gamble, P&G; Equinor ASA, and many others, and indeed many local businesses who have shut down over the same reason of not perceiving any prospect for the country as a business environment that would be anchored on productivity. The dire economic implications of such exits on our national economy are grave. Aside the resulting jobs losses, its cost effects on the products they produce, worsening poverty index, capital flight, and loss of human assets, I am particularly concerned about the negative impacts of such exits on our health sector. The combined effect of the exit of GSK, a giant pharmaceutical company, and now Jubilee Syringe Manufacturing (JSM) whose operations directly impacted on our national health, will further stifle our health sector already on life support.

These sad developments are the results of poor management of our economy. The government must therefore turn around this ugly trend, to not only discourage more business shutdowns in Nigeria but also encourage a high inflow of foreign direct investment and local investment in the nation. This they can do by building a conducive environment that will encourage productivity and business growth. As I have consistently maintained, the New Nigeria, we all look forward to, will focus on moving the nation from consumption to production, and from unproductivity to productivity. This will attract foreign and local investors, create jobs, and foster productivity and prosperity in the nation. -PO

Ibrahimcoomasie:
But news had been debunked that the syringe company did not leave.

He should also lament on GSK leaving Kenya too.

DamnnNiggarr:


This is too bad to our image as a nation, and our business space, as well as our economy, in all ramification.

The master strategist, that goes to every nation to woo investors to come and invest in Nigeria has suddenly grown fat and become slow, thereby rendering him unable to go to the several countries he's used to go, to woo investors to come to Nigeria. Instead, the ones we have, that we are managing, keep leaving Nigeria on a daily basis.

Ikaeniyan0:
The syringe company debunked the fake news few days ago

DamnnNiggarr:
Any Link to your claim?

Ikaeniyan0:
https://www.nairaland.com/7958371/jsm-restructuring-not-packing-up

Ikaeniyan0:
https://www.nairaland.com/7958371/jsm-restructuring-not-packing-up

Ibrahimcoomasie:

Thanks. I remember reading the debunk News on Nairaland front page.

Temporary Redundancy – Service Not Needed Till Further Notice’ said, “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.

“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.”

It added, “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.”

Feintline:
You can't plant cocoyam and harvest apple.
The community and online minors of tinubu are busy jumping here there trying to give explanations.

You don't need any explanations to tell you that organizations are japaing from Nigeria.

All of a sudden after a disatrous and criminal election plus the criminality of the judiciary, major organisations that have been here for decades are suddenly " making at the same season in one name or the other.

The truth is tinubu and his gang is death to Nigeria.

DamnnNiggarr:
thanks 👍👍 too.

But what we got from the JSM company's website initially suggested that they were suspending operations till further notice
read below

Ikaeniyan0:
Which major organisations are leaving?

Coca cola?

Pepsi?

PZ?

Unilever?

Guinness?

JB?

MTN?

Airtel?

Shell?

ExxonMobil?

Abi which one of the major organisation are you talking about that wants to leave?

Feintline:
Dey play.
Of you know what I know you will sell your father's land if he has one and run out to togo.

Ikaeniyan0:
Tell us what you know Okoro. What do you know that we don't know?

Ibrahimcoomasie:
But news had been debunked that the syringe company did not leave.

He should also lament on GSK leaving Kenya too.

DamnnNiggarr:
thanks 👍👍 too.

But what we got from the JSM company's website initially suggested that they were suspending operations till further notice
read below

Feintline:


Leave these empty heads to be explaining.
The company has japa. They cannot operate in Nigeria the way they were all these years.

They have moved.
PR experts will understand all the blablabla

Brenbentondiaz:


Another ignoramus. That letter you read about redundancy was to a former staff relieving him of his duties, as his role is no more needed in the company. It's so hilarious how some Nigerians love exhibiting their ignorance proudly in public space. Lolz.

DamnnNiggarr:
The letter wasn't directed to a single individual, but the entire staff members in the company.

please, always get your facts right, so as to not mislead the general public.

DamnnNiggarr:


Peter Obi

DamnnNiggarr:


Peter Obi