The Chairman of BUA Group, Abdul Samad Rabiu, announced that the company has sanctioned a 50 percent raise in salaries for all employees, regardless of their positions.
In an internal memo circulated in Lagos and signed by Mr. Mohammed Wali, BUA’s Head of Human Resources, Rabiu revealed that the salary increment was aimed at alleviating the effects of the current economic challenges in the country.
The memo stated that the raise, effective from February 1, 2024, would apply to all staff, including both permanent/regular and non-permanent employees.
“Sequel to the above development, the Human Resources and Finance departments are processing the increase to ensure that it is captured in the February 2024 payroll.
“It is hoped that with this magnanimous gesture, we will be more committed to our duties and put in our very best to justify the confidence reposed in us,” he said.
The ongoing negotiations between the organized labor and the government for a new minimum wage are attributed to the prevailing economic conditions in the country, as reported by the News Agency of Nigeria (NAN).