Abdul Samad Rabiu, Chairman of BUA Group, announced that the business has granted a 50% compensation increase for all employees.
Rabiu revealed the information in an internal document signed on Sunday in Lagos by Mr Mohammed Wali, BUA’s Head of Human Resources.
According to the memo, the BUA chairman stated that the increase was intended to minimize the impact of the country’s present economic downturn.
He stated that the compensation increase will apply to both permanent/regular and non-permanent employees, beginning February 1, 2024.
“Following the above development, the Human Resources and Finance departments are processing the raise to ensure that it is reflected 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 went on to say.
According to the News Agency of Nigeria (NAN), due to the country’s current economic situation, negotiations for a new minimum wage are underway between organised labour and the government.
