By Theodore Opara

CHAIRMAN of Toyota Nigeria Limited TNL, Chief Michael Ade- Ojo has explained that the current economic recession demands structural adjustment to survive.

He expressed hope that the difficult moments would not last and advised individuals and corporate bodies to take caution during times of abundance in order to be able to adjust to any shock.

Said he: “We are aware of the times of this season. We are aware of the recession, which has descended on our economy. And we are all trying to cope with the consequences of the recession. Everybody is carrying a face, which does not show joy because you are suffering from lack. We can hardly afford vehicles, not even the cheapest is cheap again.

Continuing he said: “As if the duty of 35 per cent is not high enough, there is similar surcharges of 35 per cent which means paying additional charges on cars like SUV and the likes. The  result of this are the very high price tags on cars.

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 N1.5 m while Master Global Concept was the second runner up in the Customer of the year award category with N1m cash prize. Some motoring 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 negative effect on the auto industry is however optimistic that the recession would soon become a thing of the past.

He advised vehicle owners to patronize recognized garages in repairing their vehicles.

Ade-Ojo added, “Don’t because of these hard times engage in what can cause bigger damage to you in the nearest future. Don’t take your vehicles to unauthorized operators or garages to  ensure longevity of the vehicles.  You may have yourself to blame at the end of the day.

“Rather than cutting short the lifespan of your vehicle by unwisely taking it to unauthorized garages that can cause greater damage to your vehicle, this is the time to be careful with your money.”