August 18, 2018

1500 jobs on the line as Erisco Foods threaten to shut down

1500 jobs on the line as Erisco Foods threaten to shut down

After numerous complaints of lack of support by the government for his company and the manufacturing sector in general, the Chief Executive Officer, Erisco Foods Limited, Mr. Eric Odinaka Umeofia, has said he will relocate his factory from of the country to begin importation of tomato paste.

However, the federal government has repeatedly dismissed Umeofia’s claims, stating recently that between 2014 and 2016, Erisco has received N3billion subsidised credit at single digit from the Central Bank of Nigeria (CBN).

Erisco Foods which claims to have the largest tomato paste factory in Africa and the largest in Nigeria, said it is one of the recent manufacturers to shut down operations due to lack of federal government’s support.The CEO said this once he exhausts the raw materials in his factory.

Umeofia said: “You would recall that we had given government 30 days after much and pressure to shutdown long ago when our colleagues had closed down for over months.”

“We have written and have been explaining to all relevant government agencies. Our expectation was for government to do the needful by placing total ban on the importation of tomato paste as they did in cement, fruit juice etc. Erisco Foods Limited is one of the few patriotic companies in Nigeria whose sole desire is to help in the development of our only country Nigeria. We are the biggest tomato processing plant in Africa and the fourth largest in the world.” Read more 

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