Femi Ashekun/
Nigerian billionaire and industrialist, Abdulsamad Rabiu, has rewarded 510 long serving employees of BUA Group with a combined cash gift of N30 billion, about $20.7 million, in one of the most significant employee reward programmes in the country’s private sector.
The cash awards were announced on Saturday, at the BUA Night of Excellence and Long Service Awards held at Eko Hotel and Suites in Victoria Island, Lagos.
The annual ceremony brings together staff from across BUA Group and its subsidiaries to recognise loyalty, consistency and years of dedicated service.
At the event, Rabiu, who is the founder and chairman of BUA Group, approved cash gifts across different cadres of the workforce.
Five employees received N1 billion each, while another five were awarded N500 million apiece.
Several others went home with N100 million, and dozens more received sums ranging from N5 million to N20 million, ensuring the rewards were spread widely across the organisation.
The gesture reinforces a pattern of employee focused decisions that have become associated with the BUA Group.
In February 2024, at a time when Nigeria was grappling with the effects of a sharp naira devaluation and rising inflation, the company implemented a salary increase for both permanent and contract staff, even as many firms froze wages amid escalating costs of living.
The latest payouts also echo an earlier intervention during the COVID 19 period.
In 2021, Rabiu announced a N2 billion share bonus for employees of BUA Cement, drawn from his personal shareholding, to reward staff who helped keep the company profitable through the disruptions of 2020.
Taken together, these actions have strengthened BUA’s reputation as an employer that places tangible value on loyalty and performance.
In an economy where many households continue to feel the strain of rising costs, Rabiu’s approach stands out for translating corporate success into direct financial rewards for employees.
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