Akwa Ibom based Nigerian company, Jubilee Syringe Manufacturing Ltd has disclosed that plans are underway to export its product to Germany.
According to reports, the company, which is owned by a Turkish national, Onur Kumral, is one of the several industries attracted to Akwa Ibom State by Governor Udom Emmanuel’s administration.
In an interview with newsmen, the CEO of Jubilee Syringe, Kumral, said “We applied for CE certification. CE certification is the standard of Europe and we are hoping to get it before the end of this year. We have all the qualifying stuff. A German company requested syringes from us but we need those certifications”.
Kumral expressed belief that the deal between the Jubilee Syringe and the German firm is a “revolution” waiting to happen, for the Nigerian economy.
He said “It is not easy to get those EU certifications in Africa. That would be a reverse back policy. It strikes a revolution. We would love you to witness that one with us.
“When the first container is loading, we will all witness it. This is huge because it is reversing back. That is a huge revenue for the country in terms of exchange rate. That is an important milestone that we targeted in the last two years”.
Delineating on the company’s targets, the CEO averred that the syringe company is working on raising its production capacity from 400 million capacity per year to between 800 million or one billion. “We will, hopefully, do that at the end of 2022,” he stated.
It is imperative to note that apart from Jubilee Syringe, the Turkish businessman and investor also owns a flour mill, Kings Flour Mill and a construction company, VKS Construction Ltd, in Akwa Ibom.
In his words, Kumral said his company is planning to set up a factory in Nigeria to produce Turkish textiles.
He disclosed that his business employs about 2,000 persons directly and 25,000 indirectly.
When asked how the ravaging COVID-19 pandemic impacted his business ventures, he said: “During this post COVID-19, to bring materials, starting from timber, aluminium to steel, have been raised to about 70 per cent on dollar prices because of supply and demand problems. The transportation to Nigeria from Europe is about double now.
“So, this also affected our budget. Post COVID-19 investment budget and the duration are not the same. Let me give you an example, when I ordered an injection machine from Austria, I was able to get that in three months, maximum four months. If you go now and request from those same people, they will give you a minimum of nine months.
“Also, one could pay some percentage in advance and some percentage when they are loading. Now, you have to pay 100 percent upfront before any business is done. So, all the cash flows, all your schedules on it have changed. We are revising that now”.