By Joe Udo
LAGOS (CONVERSEER) – Nigerian billionaire, Abdul Samad Rabiu, founder and chairman of BUA Group (the owners of BUA cement), and the second richest man in Nigeria, is once again drawing attention for how he treats the people behind his businesses. This time, the focus is on a N30 billion ($20.7 million) cash reward shared among long-serving employees of the group, one of Africa’s largest manufacturing and industrial conglomerates.
The payouts were announced on Saturday, 13th December 2025, at the BUA Night of Excellence Long Service Awards held at Eko Hotel & Suites in Victoria Island, Lagos.
The annual event, which brought together staff across BUA Group and its subsidiaries, was designed to recognise years of service, loyalty and day-to-day contributions that often go unnoticed outside company walls.
At the ceremony, Rabiu approved cash awards spanning multiple levels of the organisation.
Five employees received N1 billion ($691,000) each, while another five were awarded N500 million ($345,000). Several others went home with N100 million ($69,000), and dozens more received sums ranging from N5 million ($3,450) to N20 million ($13,810), ensuring the rewards extended beyond senior staff and reflected the breadth of the workforce.
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The awards build on a pattern that employees say has become familiar at BUA. In February 2024, as Nigeria struggled with the fallout from a sharp naira devaluation and rising inflation, Rabiu approved a 50 per cent salary increase across the group.
The decision came at a time when many companies were holding back on pay reviews even as higher food and transport costs eroded household incomes.
That salary adjustment applied to both permanent and contract staff, a move that set BUA apart in an economy where non-permanent workers are often excluded from company-wide benefits.
