One of Nigeria’s largest conglomerates, BUA Group, on Saturday, rewarded 1,768 of its staff with a whopping N30 billion, in recognition of their years of excellence, dedication and loyalty.
The surprising BUA Group awards were presented to the staff members during the Night of Excellence, Long Service Awards in Lagos.
Among the highest recipients, five staff members were presented with N1 billion each.
Kabiru Rabiu, Non-Executive Director at BUA Foods Plc and BUA Cement Plc, and Group Executive Director at BUA Group, received over N1 billion.
Also, three staff members were given N500 million each.
While seven staff members received N250 million each, nine got N200 million each, and 16 were awarded N100 million each.
The total awards presented to top employees of BUA Group stood at N13 billion, while the remaining N17 billion will be distributed to other staff across the company’s offices nationwide.
Speaking at the event, the founder and chairman of BUA Group, Abdul Samad Rabiu, said the ceremony was organised to recognise loyalty and long-term commitment among staff.
“Today is a very special occasion for me. We are celebrating good service, loyalty, commitment, resilience and the extraordinary power of faith,” Mr Rabiu said.
‘BUA Group’s growth driven by staff dedication’
He said the company’s growth was driven by employees’ dedication, noting that some awardees had been with the organisation even before it was formally established 37 years ago.
“You were with us when all we had was determination, faith and the belief that we could build something meaningful for Nigeria and for Africa,” he said.
Mr Rabiu said BUA Foods Plc is currently the largest company by market capitalisation on the Nigerian Exchange, adding that the group’s subsidiaries collectively contribute trillions of naira in market value.
“This is not an achievement of one man or capital alone. It is your loyalty and dedication that built this company,” he said.
He said 510 staff members were being honoured for serving the company for periods ranging from five to 40 years, adding that the cash awards were a symbol of appreciation rather than compensation for sacrifice.
“This is simply to say: we see it, we value it and we appreciate it,” Mr Rabiu said.
assured staff that as the company expands its operations and invests in new plants and technologies, employees would benefit from its growth.
Mr Rabiu presented the cash awards to members of the top management staff.
One of the N1 billion award recipients, Debo Agbonyin, executive director for trade finance and logistics, who joined the organisation in 1988, was visibly overwhelmed and could not deliver an acceptance speech when invited to speak on behalf of the awardees.
Dignitaries at the event included the chairman of Dangote Group, Aliko Dangote; the Editor-in-Chief of PREMIUM TIMES, Musikilu Mojeed; the Ogun State governor, Dapo Abiodun; and the Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musawa, among others.
BUA Group was founded in 1988 by Mr Rabiu and has grown into one of Nigeria’s largest conglomerates, with interests spanning cement production, food processing, sugar refining and real estate development.
One of the group’s subsidiaries, BUA Foods Plc, is currently the largest company by market capitalisation on the Nigerian Exchange.
BUA Group has a history of rewarding long-serving staff, with the chairman frequently emphasising loyalty, faith and long-term commitment as core corporate values.
The award ceremony comes amid increased public scrutiny of corporate governance and employee welfare in Nigeria, as inflation and rising living costs continue to affect workers nationwide.