Fuel Price Hike: NANS Advocates for Increased Student Loans to 40k

In response to the recent fuel price hike, the National Association of Nigerian Students (NANS) has urged the federal government to raise student loans from ₦20,000 to ₦40,000 to alleviate the growing financial pressures on students.

The call was made by NANS Senate President, Babatunde Akinteye, during a press conference in Abuja on Monday, where he emphasized the need for government intervention to help students manage the rising cost of living without compromising their education.

Akinteye highlighted that the proposed increase is essential to ensure students are not overburdened by financial hardship during their academic pursuits. He also called on the federal government to cut excessive spending, noting that in a period where Nigerians are being asked to make sacrifices, those in power should lead by example.

In his remarks, Akinteye urged calm and patience, assuring that the economic reforms initiated by President Bola Tinubu’s administration would eventually yield positive results.

“We are at a critical point in our nation’s history, where economic reforms have brought widespread discomfort, hunger, and uncertainty. The challenges before us are immense, but we must remain united and rational,” Akinteye said.

He stressed that violent actions or protests are not solutions to the country’s current problems, cautioning against allowing frustration to drive destructive behavior. “Burning down our country is not an option. As Africa’s leading student and youth movement, NANS shares the same struggles, hopes, and aspirations as every Nigerian. But now, more than ever, we must be thoughtful and deliberate in our actions,” he added.

Akinteye acknowledged the hardships facing Nigerians, including inflation, foreign exchange instability, and rising fuel prices, but urged the government to address these challenges swiftly and strategically.

He pointed out that while high fuel prices have severely impacted students, the situation must be approached with care. “The mood in the country is tense, with many citizens angry and desperate. While we understand these frustrations, we must resist the urge for rash actions. Our primary concern is the safety of Nigerian students, and we will not jeopardize that by hastily calling for protests,” Akinteye concluded.