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Reading: BUA Group Announces 50% Salary Increment Amid Economic Hardship
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BUA Group Announces 50% Salary Increment Amid Economic Hardship

In a significant move aimed at alleviating the economic hardship currently being faced in the country, BUA Group has announced a 50 per cent...

Onuwa John
Onuwa John - Managing Editor February 19, 2024
Updated February 19, 2024 at 5:15 PM
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BUA Group Announces 50% Salary Increment Amid Economic Hardship
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BUA Group Announces 50% Salary Increment Amid Economic Hardship

In a significant move aimed at alleviating the economic hardship currently being faced in the country, BUA Group has announced a 50 per cent salary increment for its workers. The increment, which is across the board, was confirmed by Abdul Samad Rabiu, the Chairman of BUA Group.

Rabiu made the announcement in an internal memo signed on Sunday in Lagos by the BUA’s Head of Human Resources, Mohammed Wali. He stated that 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," Rabiu said in the memo. He expressed hope that this generous gesture would inspire the workers to be more committed to their duties and strive to justify the confidence reposed in them.

In a related development, prominent cement manufacturers have been invited to a meeting to discuss the escalating cost of the product. The Minister of Works, David Umahi, who voiced concern over the increasing price of cement and its impact on road and housing construction, scheduled the meeting for Monday, February 19, 2024, at the Ministry’s Conference Hall in Mabushi, Abuja.

A statement released on Saturday by Orji Uchenna Orji, the Minister’s Special Adviser for Media, revealed that BUA Plc, Larfarge, Dangote Plc, and other entities were invited to the crucial meeting. The minister acknowledged the difficulties faced by manufacturers and promised to investigate. However, he lamented the significant gap between the ex-factory price and the market price of cement.

Tags: Nigeria

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