Nigerian billionaire and BUA Group founder, Abdul Samad Rabiu, has approved a ₦30 billion cash reward for long serving employees of the conglomerate, reinforcing the company’s emphasis on loyalty and workforce recognition.
The cash payouts were announced on Saturday, during the BUA Night of Excellence Long Service Awards held at Eko Hotel & Suites in Victoria Island, Lagos, an annual ceremony attended by employees from across BUA Group and its subsidiaries.
At the event, Rabiu approved cash awards across multiple tiers of service. Five employees received ₦1 billion each, while another five were awarded ₦500 million apiece. Several others received ₦100 million, with dozens more earning between ₦5 million and ₦20 million, extending the rewards beyond senior executives to employees across different cadres.
The awards were designed to recognise years of service, loyalty, and daily contributions by staff whose efforts often remain behind the scenes but are central to the group’s operations.
The latest payouts build on previous employee focused initiatives within the group. In February 2024, Rabiu approved a 50 percent salary increase across BUA Group at a time when Nigeria was grappling with rising inflation and the effects of a sharp naira devaluation.
That salary adjustment applied to both permanent and contract staff, a move that distinguished the company in an environment where non permanent workers are often excluded from broad compensation reviews.
The cash rewards also reflect earlier commitments made by the billionaire industrialist. In 2021, Rabiu announced a ₦2 billion share bonus for BUA Cement employees, drawn from his personal holdings, in recognition of staff efforts that sustained company performance during the disruptions of 2020.
Through these measures, BUA Group has continued to position itself as an employer that places tangible value on loyalty and performance, with decisions that directly impact employees’ financial well being rather than symbolic gestures.
Ademide Adebayo
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