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BUA Group Chairman Abdul Samad Rabiu said the company has approved a 50% salary increase for all employees.
Mr Rabiu disclosed this in an internal memorandum signed by BUA’s Head of Human Resources, Mohammed Wali, in Lagos on Sunday.
The memorandum quoted the BUA chairman as saying that the increase was to mitigate the impact of the economic difficulties currently faced by the country.
He said the salary increase will cover permanent/permanent and non-permanent employees with effect from February 1, 2024.
“Following the above developments, Human Resources and Finance are processing this increase to ensure it is included in February 2024 payroll.
“Hopefully, through this generous gesture, we will become even more committed to our responsibilities and do our best to demonstrate the trust placed in us,” he said.
Due to the current economic conditions in the country, labor organizations and the government are negotiating a new minimum wage.
(exist)
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