In a notable move by BUA Group, the company’s Chairman, Abdul Samad Rabiu, has announced a significant 50% increase in salaries for all employees. This announcement was communicated through a memo issued on Sunday in Lagos by Mohammed Wali, the head of BUA’s human resources department.
The memo highlighted Mr. Rabiu’s intention behind the salary boost, aiming to alleviate the financial strain experienced by employees due to the prevailing economic challenges in the nation. The salary adjustment is set to benefit both full-time and contractual employees, starting from February 1, 2024.
Following this announcement, the human resources and finance teams at BUA are diligently working to integrate this increase into the February 2024 salary disbursements. This generous initiative is intended to inspire greater dedication and performance among the staff, acknowledging their hard work and the trust placed in them by the company.
This adjustment comes at a time when discussions are actively taking place between labor unions and the government regarding the establishment of a new minimum wage, reflecting the broader context of economic adjustments across the country.
(News Agency of Nigeria)