The plant, located in Agbara Industrial Estate, Ogun state, had been commissioned in 2017 by Vice President Yemi Osinbajo and had cost $300 million.
According to Premium Times, the plant is set to be shut down after running at a loss. A company source who spoke to Premium Times said: “About 30 staff will be left who may either be outsourced or deployed to our only remaining plant in Nigeria, with 120 to be laid off.”
A top official of the company who spoke to the news outlet said they were shutting down because of the cost of importing raw materials and their unwillingness to manoeuvre the system.
