NEWS

BUA increases staff salaries by 50% as promised cement price reduction is still being awaited

BUA Founder, Abdul Samad Rabiu

Chairman of BUA Group, Abdul Samad Rabiu, says the company has approved a 50 per cent salary increment for staff across board.

This is as the promise the company made to reduce cement price is still lingering.

Rabiu made the disclosure in an internal memo signed on Sunday in Lagos by Mr Mohammed Wali, BUA’s Head of Human Resources.

The memo quoted BUA chairman as saying that the increment was to mitigate the impact of the economic hardship currently being faced in the country.

He said the salary increment would cover both permanent/regular and non-permanent staff with effect from Feb. 1, 2024.

“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 News Agency of Nigeria (NAN) reports that due to the current economic conditions in the country, negotiations are ongoing between the organised labour and the government, for a new minimum wage.

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