The Chairman of Toyota Nigeria Limited (TNL), Chief Michael Ade- Ojo, has said the current economic recession demands structural adjustment for individuals and corporate bodies to pull through the difficult moments.
Expressing optimism that the current difficult moments would not last, he called for caution during times of abundance in order to be able to adjust to any economic shock.
Ade- Ojo spoke during the 2016 TNL awards in Lagos where the company rewarded its loyal customers with cash prizes.
Winners of the award included First Bank which won the Evergreen Customer of the Year award with a prize tag of N2.5m while Peace Mass Transit won the Customer of the Year award with a cash prize of N2m.
The Department of Petroleum Resources (DPR) emerged the First Runner Up with N1.5m while Master Global Concept was the second runner up in the Customer of the Year award category with N1m cash prize. Some journalists were also recognized for their consistency in the reportage of issues in the auto industry.
The Toyota Chairman who said the company had sustained the award despite the present economic downturn which had greater effect on the auto industry was however optimistic that the recession would soon become a thing of the past.