• Monday, April 22, 2024
businessday logo


Economic hardship: Neveah gives workers 44% salary raise as palliative

Economic hardship: Neveah gives workers 44% salary raise as palliative

…Says, Largesse aimed to boost staff’s commitment, productivity

Neveah Limited has announced a substantial salary increase for all its employees to cushion the harsh economic stress.

This came on the heels of the financial hardships faced by many workers due to the economic recession. With rising inflation, increasing costs of living, and stagnant wages, many Nigerians have been struggling to make ends meet.

The company’s Chief Executive Officer, Ibidapo Lawal in a statement, disclosed that starting this month, all employees at Neveah would receive a salary raise of over 44 percent on average, with some workers receiving an increase of up to 70percent.

The increase will bring the average salary at Neveah to well above industry standards and is expected to have a significant impact on the overall morale and motivation of the workforce.

Consequently, Neveah’s decision to increase salaries by such a significant percentage has been met with commendation and appreciation from employees.

“We understand the challenges that our employees are facing, and we want to do everything we can to support them during these difficult times.

“We believe that investing in our employees is not only the right thing to do morally, but it also makes good business sense. Happy and financially stable employees are more productive, engaged, and committed to the company’s success,” Lawal said.

Neveah Limited is a leading indigenous commodities export company in Nigeria that deals in agro commodities, base metals and minor metals. The company exports to over 15 countries within Europe, Asia, and North America. Working closely with select suppliers for its materials, Neveah is said to provide the best products at the most affordable prices to its global customers.

In 2022, Neveah Limited was awarded Sectoral Exporter of the year by the Nigerian Export Promotion Council (NEPC). Most recently, the company was ranked 18th on Financial Times London list of Africa’s 100 Fastest Growing Companies.