Chairman of BUA Group, Abdul Samad Rabiu, says the company has approved a 50 per cent salary increment for staff across board.
Mr Rabiu made the disclosure in an internal memo signed on Sunday in Lagos by Mohammed Wali, BUA’s head of human resources.
The memo quoted the 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 February 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.
Due to the current economic conditions in the country, negotiations are ongoing between organised labour and the government for a new minimum wage.
