Vanguard reports that Abdul Samad Rabiu, the Chairman of BUA Group, has announced the approval of a 50% salary increase for all staff members across the board. The disclosure was made in an internal memo dated Sunday and signed by Mr. Mohammed Wali, BUA’s Head of Human Resources, in Lagos. Rabiu, in the memo, stated that the salary increment is a response to the prevailing economic challenges in the country.
The increase will be applicable to both permanent/regular and non-permanent staff, and it will be implemented from February 1, 2024. The Human Resources and Finance departments are actively processing the increment to ensure its inclusion in the February 2024 payroll.
Rabiu expressed the hope that this generous gesture would motivate the staff to be more dedicated to their responsibilities and contribute their best efforts to justify the confidence placed in them.
It’s worth noting that these developments are occurring against the backdrop of ongoing negotiations between organized labor and the government for a new minimum wage due to the current economic conditions in the country.