BUA Announces 50% Salary Increase for Staff Over Rising Cost Of Living

In response to the escalating cost of living, BUA Group’s Chairman, Abdul Samad Rabiu, has authorized a substantial 50% raise for all employees.

This significant decision was communicated via an internal memo issued on Sunday in Lagos by Mr. Mohammed Wali, BUA’s Head of Human Resources.

Rabiu emphasized that the raise aims to alleviate the financial strain experienced nationwide due to economic challenges.

Effective from February 1, 2024, the salary increment will benefit both permanent/regular and non-permanent staff.

“In light of this development, the Human Resources and Finance departments are diligently processing the adjustments to ensure they reflect in the February 2024 payroll,” Rabiu stated.

He expressed hope that this gesture will foster increased dedication among employees to fulfill their responsibilities and uphold the trust placed in them.

Meanwhile, amid ongoing discussions between organized labor and the government, negotiations for a new minimum wage are underway, reflecting the pressing economic realities facing the nation.