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KEGOZ MARKET WATCH KEGOZ BULLETIN · 28 OCT 2026 ·UPDATE
  • PMS · Depot average₦1,346.50/L▼ ₦0.50
  • DIESEL (AGO) · Basket median (all quotes carried forward)₦1,790/L— ₦0
  • COOKING GAS (LPG) · Depot average₦1,200/kg— ₦0
  • BRENT CRUDE · 27 Oct settlement$113.88/bbl▼ 1.7%
  • USD/NGN · Official closing rate · 26 Oct₦1,365/$1
  • USD/NGN · Parallel · 28 Oct bulletin₦1,382–1,390/$1
  • DANGOTE PMS · Gantry · 28 Oct bulletin₦1,325/L
  • DANGOTE AGO · Depot · 28 Oct₦1,840/L
  • DANGOTE LPG · Depot · 28 Oct₦1,025/kg
  • NNPC PMS · Abuja pump · 16 Oct₦1,405/L
Source: KEGOZ Daily Trading Intelligence Bulletin, Issue 057. Indicative prices; quote dates vary. Depot-average changes vs Issue 056. AGO basket median uses only carried quotes; reported visible quotes are ₦1,840–1,900/L. PMS basket expanded with Rainoil Lagos. Verify with suppliers before trading. Not a live feed.

TUC Rejects N70,000 Allowance, Demands N300,000 Salary for Workers

The Trade Union Congress of Nigeria (TUC) has rejected the Federal Government’s proposed N70,000 transport allowance for workers, demanding an immediate salary increase and full implementation of its agreement with the Joint Health Sector Unions (JOHESU).

The congress, in a statement on Wednesday signed by its President-General, Festus Osifo, and Secretary-General, N. A. Toro, described temporary wage awards as inadequate to address the rising cost of living.

It called on the Federal Government to increase the salary of the lowest-paid federal worker from N70,000 to N300,000, with corresponding adjustments across other salary grades.

The TUC said it had communicated its position to the government in a letter dated October 8, 2026, following a meeting of its National Administrative Council in Abuja.

It added that subsequent consultations with government officials, including the Secretary to the Government of the Federation, failed to change its opposition to the proposed transport allowance.

According to the congress, there is no legal requirement for the government to negotiate a new national minimum wage before increasing workers’ salaries.

It argued that salary adjustments could be implemented immediately while negotiations on a new minimum wage continued.

Read Also: ngx-groups-nine-month-profit-surges-83-to-n20-6bn

The TUC also accused the government of failing to fully implement the N40,000 wage award agreed with organised labour on October 2, 2023.

It alleged that some workers remained unpaid for one or two months, while others received nothing, adding that payments were irregular and that more than 80 per cent of states and the informal sector had not implemented any form of wage award.

The congress urged governments at all levels to reduce the cost of essential goods and services, ensure timely payment of salaries and pensions, protect jobs and tackle exploitative labour practices.

It also demanded the revitalisation of the productive sector to create decent employment opportunities.

On the JOHESU dispute, the TUC accused the Federal Government of failing to implement an agreement on the adjustment of the Consolidated Health Salary Structure (CONHESS), despite the suspension of industrial action by health workers.

The congress said the agreement followed a conciliation meeting involving the labour and health ministers and other government representatives.

It called for immediate implementation of the outstanding adjustment, a clear timetable for compliance, adequate budgetary provisions and further consultations with the affected unions.

The TUC warned that the continued delay undermined collective bargaining and workers’ confidence in government commitments.

It pledged to support affected health workers and pursue all lawful measures to ensure compliance, adding that it was awaiting the outcome of a scheduled meeting with the government before determining its next course of action.

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