BUA Group Announces 50% Salary Increment for Staff Amid Economic Hardship

In an attempt aimed at alleviating the financial strain faced by its employees amidst prevailing economic challenges, BUA Group, led by Chairman Abdul Samad Rabiu, has announced a significant 50% salary increment for all staff members.

The decision was communicated through an internal memo signed by Mr Mohammed Wali, BUA’s Head of Human Resources, and was confirmed by Rabiu on Sunday in Lagos. The memo cited the need to mitigate the impact of the economic hardships currently gripping the country as the driving force behind the salary increase.

Effective from February 1, 2024, the increment will apply to both permanent/regular and non-permanent staff, reflecting BUA Group’s commitment to ensuring the well-being of its workforce during these challenging times.

According to Rabiu, the Human Resources and Finance departments are already in the process of implementing the salary adjustment to ensure that it is reflected in the February 2024 payroll. He expressed hope that this gesture would inspire employees to redouble their efforts and uphold the trust placed in them by the company.

Meanwhile, negotiations are ongoing between organized labor and the government for a new minimum wage, reflecting the broader economic concerns facing the nation.

The move by BUA Group underscores the company’s dedication to its employees’ welfare and stands as a beacon of support amidst economic uncertainties, setting a positive example for corporate responsibility during turbulent times.