Nigeria: BUA Cement Chairman Offers Employees N2 Billion Bonus

5 July 2021

Abdul Samad Rabiu, the largest shareholder and Chairman of BUA Cement Plc has announced a share bonus gift from his pool of shares for employees of the company worth about N2 billion.

This, Rabiu said was in recognition of the workers' effort to keep the company profitable despite the pandemic and predictions of a tough year.

The company disclosed this in a statement.

It explained that despite the pandemic, BUA Cement remained one of the most profitable companies in Nigeria. It had declared a profit after tax of N72.3 billion, representing a 19.4 per cent increase over the corresponding period in 2019.

Rabiu was quoted to have said it was important to recognise the effort of key staff who worked tirelessly despite the pandemic to keep the company on a strong footing even as the company was better placed to stay profitable for the foreseeable future.

"As we head into another year of record profits, this share bonus for our employees is only the right thing to do. By doing so, our core employees are better placed to benefit from BUA Cement's future successes which they continue to help deliver", Rabiu added.

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