“Following the agreement between the Federal Government of Nigeria and the Non-Academic Staff Union of Educational and Associated Institutions dated 29th June 2026, the Federal Government has approved the payment of the following allowances to non-teaching staff members of NASU in Federal Universities,” the circular stated.History

Under the new package, workers on CONTISS 1–5 will receive an annual laboratory hazard allowance of ₦243,000, up from ₦180,000, representing a 35 percent increase.

Employees on CONTISS 6–15 will now earn ₦486,000 annually, an increase from ₦360,000, also representing a 35 percent rise.

The union had sought annual hazard allowances of ₦360,000 and ₦720,000 for the two categories, respectively.

Responsibility Allowances Reviewed

The government also approved increases in responsibility allowances for senior non-teaching staff.

Annual responsibility allowances for registrars and bursars were raised from ₦750,000 to ₦840,000, representing a 12 percent increase, although NASU had requested ₦1.5 million annually.

Deputy registrars, deputy bursars and deputy directors will now receive ₦480,000 annually, compared with the union’s demand of ₦600,000.

For the first time, directors will receive an annual responsibility allowance of ₦600,000, matching NASU’s request.

Similarly, heads of sections, who previously had no approved responsibility allowance, will now receive ₦150,000 annually, against the union’s demand of ₦900,000.

Other Allowances Adjusted

The government also reviewed allowances for field trips, teaching practice and industrial supervision.

Staff on CONTISS 1–5 will receive ₦81,000 annually, up from ₦60,000, while those on CONTISS 6–12 will earn ₦108,000, compared with the previous ₦80,000.

Employees on CONTISS 13–15 will now receive ₦135,000 annually, an increase from ₦100,000.

The revised package also includes higher allowances for the Students’ Work Experience Programme (SWEP).

Workers on CONTISS 1–5 will receive ₦81,000 annually, up from ₦60,000, while those on CONTISS 6–12 will earn ₦108,000, an increase from ₦80,000.

For employees on CONTISS 13–15, the previous allowance range of ₦60,000 to ₦100,000 has been harmonised at ₦135,000 annually, although NASU had proposed ₦200,000.

The circular further stated that the Provision Tools Allowance (PTA) has been absorbed into the Consolidated Non-Teaching Tools Allowance (CATA), while laboratory student-to-staff ratio supplementation will now be covered under existing excess workload provisions.

The review follows months of negotiations between the Federal Government and NASU after the union argued that the allowances introduced under the 2009 agreement had become inadequate due to rising inflation and the increasing cost of living.

Port Harcourt depots followed suit. Hong Petroleum reduced its ex-depot price from N1,255 to N1,246 per litre, while Mainland moved from N1,255 to N1,250. Northwest did not publish a current loading price.

In Warri, Optima posted the biggest single reduction across all three cities, cutting its price by N25 from N1,270 to N1,245 per litre. Matrix in Warri also reduced its rate by N24 to N1,246, and Rain Oil trimmed its loading price by N5 to N1,268 per litre.

Below is a snapshot of current ex-depot prices: Snapshot of petrol depot prices on Monday at depots

LAGOS

Bulk Strategic – N1,250/litre

Liquid Bulk – N1,256/litre

Masters – N1,260/litre

Matrix – N1,255/litre

Sigmund – N1,250/litre

T.S.L – N1,250/litre

PORT HARCOURT

Hong Petroleum – N1,246/litre

Mainland – N1,250/litre

WARRI

Optima – N1,245/litre

Matrix – N1,246/litre

Rain Oil – N1,268/litre

9. Fola Adeola
Fola Adeola is best known as the founder of Guaranty Trust Bank (GTBank), one of Nigeria’s largest and most respected financial institutions. He is also involved in several other ventures, including heading MainOne, a telecom company, and running the FATE Foundation, which supports entrepreneurship in Nigeria. His net worth is around $550 million.

8. Dele Fajemirokun
Dele Fajemirokun is one of the most respected Yoruba business figures, with investments spanning insurance, oil, and telecommunications. He is the chairman of AIICO Insurance and a key investor in Food Concepts, the parent company of Chicken Republic. His business acumen has earned him a net worth of $500 million.

7. Samuel Adedoyin
Samuel Adedoyin is a self-made billionaire who overcame humble beginnings to become one of the wealthiest Yoruba men in Nigeria. He is the founder of the Doyin Group, a conglomerate involved in manufacturing, agriculture, and real estate. Adedoyin’s journey from small business ventures to becoming a billionaire is truly inspirational, and his net worth is estimated at $540 million.

6. Oba Otudeko
Oba Otudeko, a respected business magnate and philanthropist, is the founder of Honeywell Group, a diversified industrial conglomerate with interests in food processing, oil and gas, and real estate. He also played a pivotal role in the Nigerian banking industry, previously serving as the chairman of First Bank of Nigeria. Otudeko’s net worth is around $550 million.

5. Tunde Folawiyo
As the managing director of Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, and real estate, Tunde Folawiyo carries on the legacy of his family’s business empire. His ventures in shipping and energy are particularly notable, and he also serves on the board of MTN Nigeria. His estimated net worth is around $650 million.

4. Deji Adeleke
Dr. Deji Adeleke is a prominent businessman and philanthropist, best known as the father of the famous Nigerian musician Davido. He is the founder of Pacific Holdings Limited, a company with interests in oil and gas, real estate, and logistics. Adeleke is also an investor in education, having established Adeleke University in Osun State. His net worth is estimated at over $700 million.

3. Jimoh Ibrahim
Jimoh Ibrahim is another leading Yoruba entrepreneur who has built his fortune through diversified business ventures. He is the CEO of Global Fleet Group, a conglomerate with interests in oil and gas, insurance, real estate, aviation, and publishing. A lawyer by training, Jimoh Ibrahim’s net worth stands at around $1.1 billion, largely due to his ability to navigate various industries successfully.

2. Femi Otedola
Femi Otedola is one of Nigeria’s most recognized billionaires, primarily due to his involvement in the oil and gas industry. He is the former chairman of Forte Oil, a major petroleum marketing company in Nigeria, and his business ventures have expanded into power generation, finance, and real estate. Otedola’s investments in key sectors like shipping and energy make him a major player in Nigeria’s economy. As of 2024, his net worth is estimated at $1.8 billion.

1. Mike Adenuga
While Mike Adenuga is a Yoruba billionaire, his reach extends beyond Nigeria to the rest of Africa. He is the founder of Globacom, one of Nigeria’s largest telecommunications companies, and he also has interests in oil exploration through his company Conoil. Adenuga’s strategic positioning in telecoms and oil has made him the second-richest man in Nigeria, with a net worth of over $6 billion.

SEE THEIR NET WORTH