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BUA Increases Staff Salary By 50% Amidst Cement Price Hike

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BUA Chairman, Abdul Samad Rabiu Predicts When Dollar Will Exchange Below N1,000, Crash Of Commodity Prices

The Chairman of BUA Group, Abdul Samad Rabiu, has announced that the company has approved a 50 per cent salary increment for staff across board.

Rabiu made the announcement in an internal memo signed on Sunday in Lagos by the BUA’s Head of Human Resources, Mohammed Wali.

The BUA chairman stated 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 Feb. 1, 2024.

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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.

Rising Cost Of Cement: Minister Of Works, Umahi Summon Manufacturers

Prominent cement manufacturers have been invited to a meeting regarding the escalating cost of the product, according to Minister of Works David Umahi.

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Naija News reports that he voiced concern that cement producers were not receiving enough business from road and housing construction, and that the price of the commodity was increasing at an absurd rate.

The meeting is scheduled for Monday, February 19, 2024, at the Ministry’s Conference Hall in Mabushi, Abuja, according to a statement released on Saturday by Orji Uchenna Orji, the Minister’s Special Adviser for Media.

It stated that BUA Plc, Larfarge, Dangote Plc, and other entities were invited to the curcial meeting.

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The minister acknowledged that manufacturers had difficulties and promised to investigate.

He, however, lamented that the gap between the ex-factory price and the market price is enormous.

Ige Olugbenga is a fine-grained journalist. He loves the smell of a good lead and has a penchant for finding out something nobody else knows.