Erisco Foods Limited, producer of a range of tomato paste and other food spices, has threatened to relocate its business activities out of Nigeria.
In a press briefing yesterday in Lagos, the CEO of the company, Mr. Eric Odinaka cited the inability of federal government to support indigenous producers, frustration from NAFDAC and the stringent CBN policies as reasons for the planned shutdown.
About 1500 workers stand the risk of losing their jobs should the company shut down its branches in Nigeria. The company has given the federal government a 30-day ultimatum to look into its grievances.
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