• Monday, May 27, 2024
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NECA to reward resilience in 2022 Employers’ Excellence Awards

Joshua Bassey

The Nigeria Employers’ Consultative Association (NECA) says its 2022 Annual Employers’ Excellence Award (third in the series) is to reward organisations that have endured Nigeria’s harsh business environment and continue to thrust on amid myriads of challenges in the economy.

The annual award was instituted to celebrate employer organisations that have implemented policies, systems, and processes that create and sustain enterprise competitiveness, productivity, industrial peace, and harmony.

According to Adewale Oyerinde, the director-general of NECA, the tough business environment in Africa’s largest economy is evident in the continuing exit and closure of several companies, many of which were once thriving businesses with thousands of employees contributing to national growth, a development he described as a ‘setback’ for the economy.

“Several businesses have closed shop; some are planning to close or even exit the country. Capacity utilisation is now about 51 percent, while inflation is about 27 percent. Some of our member organisations are complaining that they can’t even increase the prices of their goods and services anymore because consumers are no longer able to buy due to tumbling purchasing power. Take these myriads of challenges into consideration with businesses still able to keep heads above the waters and retain workers; that is what we’re celebrating in the 2023 annual NECA Employers’ Excellence Awards,” said Oyerinde during a session with the media on Tuesday.

Speaking further on the regulatory environment, the NECA boss condemned what he termed ‘flagrant disregard’ to the ruling of the court by members of the National Assembly who continue to summon the organised private sector under the guise of oversight functions. Oyerinde described this as disruptive to businesses.

Read also: How Nigeria can revive ailing economy, says NECA

Speaking on the 2023 Employers’ Awards slated for November 29, at the Eko Hotels & Suites, Lagos, Stephen Olayinka, chairman of the planning committee, said it would not only reward organisations that have done well but also those that contributed to the national economy.

Olayinka said there would be awards for companies playing different sectors of the economy, including banking, food, alcoholic and non-alcoholic beverages, and manufacturing, among others.

“There would also be discretional (non-competed for) awards for organisations and individuals that have supported and continue to support businesses to thrive,” said Olayinka.