In response to the escalating cost of living, BUA Group, chaired by Abdul Samad Rabiu, has declared a significant 50 percent salary rise for its entire staff body.
Bua Group Announces 50% Salary Increase Amid Rising Cost Of Living 7
This announcement was relayed in an internal memo issued on Sunday in Lagos by Mohammed Wali, BUA’s Head of Human Resources.
Rabiu emphasized that the decision to increase salaries aims to alleviate the financial strain caused by the prevailing economic challenges in the country. Effective from February 1, 2024, this increment will encompass both permanent/regular and non-permanent staff members.
“The Human Resources and Finance departments are diligently processing the adjustment to ensure its incorporation in the February 2024 payroll,” stated Rabiu in the memo. He expressed hope that this gesture would foster enhanced dedication among employees, urging them to uphold their responsibilities with renewed vigor.
The rising inflation in Nigeria has made it difficult for most Nigerians to survive on their petty salaries, especially civil servants. A situation which has led to labour union issuing threats of nationwide strike, calling on the federal government to implement the new minimum wage.
