The National Association of Nigerian Students (NANS) is advocating for a significant boost in student loans from N20,000 to N40,000 in response to the recent increase in fuel prices.
This call was made by NANS Senate President, Babatunde Akinteye, during a press conference in Abuja on Monday.
Akinteye highlighted that the proposed adjustment is crucial to help students cope with the escalating cost of living while ensuring they can continue their education without undue financial pressure.
He also urged the Federal Government to curtail excessive spending, asserting that it is vital for those in positions of power to set an example during these challenging times.
“We find ourselves at a pivotal juncture in our nation’s history, where the weight of economic reforms has cast a shadow of discomfort, hunger, and despair across our land,” Akinteye remarked.
He stressed the severe impact of rising fuel prices on students and the broader populace, advocating for measured and strategic responses rather than immediate protests.
Akinteye encouraged patience and calm, emphasizing that President Bola Tinubu’s reforms, though difficult, are expected to yield positive outcomes.
He stated, “The reality we face today is daunting, and the uncertainty of these times cannot be understated. Yet, amid these challenges, we must stand united and clear-headed.”
Acknowledging the widespread difficulties caused by issues such as foreign exchange irregularities and fuel scarcity, Akinteye urged the government to tackle these problems head-on. He emphasized the need for careful and deliberate actions, noting that while the economic strain is particularly severe for lower-income groups, it is important to avoid hasty reactions.
“The safety of every Nigerian student is a top priority of NANS,” Akinteye concluded, affirming the association’s commitment to safeguarding students from potential risks associated with protests.
What you should know
Nairametrics earlier reported that Fuel scarcity has returned to major cities like Lagos and Abuja, with vehicles seen queuing at the few filling stations selling petrol.
- The Nigerian National Petroleum Corporation (NNPC) Limited has raised petrol prices at its filling stations in Lagos to N855 per litre due to ongoing fuel scarcity.
- Observations by Nairametrics revealed that some NNPC stations are now charging between N865 and N897 per litre, up from N568 per litre.
- This price increase follows the NNPC’s recent admission that its ability to supply petrol is compromised by significant debt obligations to international oil traders, totalling approximately $6 billion.
The Nigeria Employers Consultative Association (NECA) has criticized this price hike, stating that it forces Nigerians to bear the burden of the company’s inefficiency. Mr. Adewale-Smatt Oyerinde, the Director-General of NECA, voiced these concerns, condemning the new pump price of Premium Motor Spirit (PMS).
