NECA praises businesses for resilience amid economic uncertainty

Ahead of its annual Employers’ Excellence Awards 2022, the Nigeria Employers Council (NECA) will be celebrating the resilience and tenacity of businesses over the past year.

Adewale Smut Oyelinde, Executive Director of NECA, said at a press conference that while the inflation rate is around 27.3% and the production capacity of companies remains at around 50%, some companies are planning to leave the country due to the difficult business environment. said that it is increasing. It was most important to celebrate and reward the companies that survived and stood tall.

He said the annual award was established to honor organizations that have put in place policies, systems and processes that create and sustain corporate competitiveness, productivity, industrial peace and harmony.

He said the purpose of the Awards of Excellence is to celebrate the resilience and tenacity of Nigerian businesses and encourage best practices and responsible businesses to emulate.

The NECA Director said that through such exposure, employers gain an additional channel to strengthen their brand profile as Nigeria’s leading and responsible employers, thereby contributing to Nigeria’s economic prosperity and industrial harmony. He said he could contribute.

Mr Oyerinde said the awards, tagged “Against All Odds”, are sectoral, with winners selected from each sector of the economy, with employers of the year chosen among the winners by a panel of judges and judges. He said that he would be selected from.

“Companies face challenges in their ability to meet their obligations to regulators and internal stakeholders, and their resilience to continue to retain staff without making redundancies, despite all the multifaceted challenges they face. are doing.

“Despite all the challenges, legislative attacks, strikes, and global competitiveness, many organizations still survive.

“We also celebrate companies that have exited due to divestment or difficult operating conditions. We also celebrate their contribution to the Nigerian economy.” “The fact that we are contributing to the global economy is completely unexpected,” he said.

Organizing Committee Chairman Steve Olinka said the criteria for the awards, which is in its third edition and is scheduled to be held in Lagos on November 29, 2023, includes leadership and governance. Innovation, productivity, and corporate performance. Effective human resource management and industrial relations. Technology optimization. Occupational Health and Safety; Inclusion and Diversity and Responsible Business Conduct/Corporate Social Responsibility.


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