The Chief Executive officer of Erisco foods Limited, Chief Eric Umeofia has announced his decisions to close his manufacturing companies in Nigeria and moved to the Four African countries, Kenya, Ethiopia, Cameroon and Cote d'Ivoire.
He cited his reasons to the undue favouritism given to the
Lebanese, Indian and Chinese businessmen in the
allocation of foreign exchange to import tomato
pastes and other items, including frozen fish, which he said had
dealt serious blow to his company, Erisco Foods
Ltd. and also to other Nigerian companies
involved in manufacturing.
Umeofia said that Erisco Foods, which has had dominant presence
in Liberia and Angola over the years, is listed as
Africa’s top tomato paste manufacturer, and the
company is the fourth largest of its type in the
world, according to records.
But Federal government's policy inconsistencies and alleged connivance
of officials of some key government agencies to
deny foreign exchange allocations to indigenous
companies in preference for foreigners have left
many Nigerian companies struggling or closing
shops in recent times.
Eric Umeofia on October 5 announced plans to shut
down operations and sack some 1,500 workers
at his expansive factory in Oregun, an industrial
area of Lagos.
“If we don’t leave Nigeria now we’ll go bankrupt
and I believe that my leaving will open up the
environment for government to understand the
dilemma facing Nigerian manufacturers like me,’’ He said.
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