In a bid to cushion the effects of Nigeria’s current economic difficulties on its workforce, BUA Group has introduced a 50% salary increase for all its employees, effective from February 1, 2024. This announcement was made by the Group’s Chairman, Abdul Samad Rabiu, and communicated to employees via an internal memo signed by Mohammed Wali, the company’s Head of Human Resources.
The salary hike applies to both permanent and non-permanent employees, across all ranks and departments. Rabiu stated that the adjustment was designed to ease the financial pressure currently experienced by workers due to rising costs and inflationary pressures in the country. The increase will be reflected in the February 2024 payroll, with the Human Resources and Finance departments working to ensure its seamless implementation.
Rabiu also expressed confidence that this gesture would further strengthen employee loyalty and productivity, urging workers to remain committed to their roles and deliver their best efforts in the face of adversity.
BUA Group’s decision to increase salaries is a clear indication of the company’s commitment to its staff, even during challenging economic times. This move, while addressing immediate financial needs, also highlights the company’s focus on the long-term well-being of its employees.
Known for its leadership in the cement and food industries, BUA Group has shown resilience in navigating the current economic climate. BUA Foods, a subsidiary of the group, reported impressive growth, surpassing $610 million in revenue by the end of the 2023 fiscal year, further underscoring the company’s strength in the market despite the tough economic conditions.
