Economic Hardship: Neveah takes action, boosts workers’ salaries by whopping 44%

Folalumi Alaran in Abuja

Neveah Limited has announced a substantial salary increase for all its employees.

This unconventional move 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 CEO, Mr. Ibidapo Lawal, in a statement at the weekend, revealed that starting this month, all employees at Neveah will receive a salary bump of over 44 per cent on average, with some
workers receiving an increase of up to 70%.

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 widespread praise and appreciation from employees and industry experts alike.

“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”, he said.

Employees at Neveah were thrilled by the announcement, with many expressing their gratitude for the company’s generosity and commitment to their well-being.

Industry experts have also applauded Neveah’s decision, citing it as a positive example of how companies can support their employees during times of economic uncertainty.