In response to the ongoing fuel price hike and rising cost of living, the National Association of Nigerian Students (NANS) has called on the federal government to increase student loans from N20,000 to N40,000. This, they argue, is essential to help students navigate the financial challenges posed by the current economic situation.
During a press briefing in Abuja on Monday, NANS Senate President, Babatunde Akinteye, stressed the need for urgent adjustments to student financial aid. He explained that the increase would help students maintain their education without suffering undue financial hardship.
“We are calling for an immediate increase in student loans from N20,000 to N40,000. This is not just a request but a necessity for Nigerian students who are grappling with rising living costs. Education must not become a casualty of these economic reforms,” Akinteye stated.
He further appealed to the federal government to reduce excessive spending, emphasizing that leaders should lead by example during these difficult times.
“As the government calls on citizens to tighten their belts, we also ask those in power to cut back on wasteful spending. It is only fair that everyone, including those at the top, shares the burden of these economic sacrifices,” he said.
Akinteye urged students and the wider public to remain calm and patient, noting that the reforms implemented by President Bola Tinubu’s administration would eventually yield positive results.
“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. 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,” he remarked.
He emphasized that protests and violent reactions would not solve the country’s challenges. Instead, he called for thoughtful, measured action.
“Burning down our country is not an option; it is not a solution. As the foremost student and youth movement in Africa, we share the same struggles, hopes, and aspirations as every Nigerian. In moments like this, we need to be thoughtful and measured in our response, rather than rush into protests that could put lives at risk,” Akinteye advised.
Acknowledging the impact of fuel price increases on students and the economy as a whole, Akinteye said, “We recognize that Nigerians, especially students, are severely impacted by high fuel prices, as our economy is deeply tied to fuel. However, it is crucial that we approach these issues with caution and strategy.”
He warned that the nation’s mood was increasingly tense, with anger, frustration, and desperation rising across the country. Despite this, he stressed the importance of avoiding hasty decisions that could lead to unrest.
“Many Nigerians are on edge, waiting for a spark to ignite unrest, but we must resist the temptation to react in haste. We are mindful of the importance of preserving life and liberty,” Akinteye said.
He concluded by reiterating NANS’ commitment to the safety of Nigerian students, stating, “The safety of every Nigerian student is our top priority. We will not risk exposing them to danger by hastily calling for protests.”
Akinteye urged the government to address the current issues affecting students, including foreign exchange volatility, fuel shortages, and rising food prices, while also assuring students that NANS would continue to advocate on their behalf.
