NANS Faults Politicians Pushing Fuel Subsidy Return

The National Association of Nigerian Students (NANS) has told Nigerians to reject calls by some politicians to bring back fuel subsidy.

Recall that the former Vice-President and presidential candidate of the African Democratic Congress, Atiku Abubakar have criticised the present government removal of the fuel subsidy.

Speaking on Tuesday in Akure, Ondo State, at a youth summit sponsored by the Minister of Interior, Olubunmi Tunji-Ojo, NANS National President, Babatunde Akinteye, said the country should instead focus on tracking how savings from subsidy removal are spent.

The summit, themed ‘Unlocking Ondo State students’ potentials for economic growth’, provided the platform for the student leader to fault renewed agitation for subsidy restoration.

Akinteye said Nigeria ran the subsidy regime for about four decades and both successive governments and economic experts agreed it was not sustainable.

He argued that rather than return to a system that benefited a few, Nigerians must demand transparency and ensure the funds saved are invested in projects that touch ordinary citizens.

“We should monitor the money being saved from the removal of fuel subsidy and ensure it is channelled into projects and programmes that benefit all Nigerians instead of returning to a system where a few individuals cornered resources meant for the entire country,” he said.

Akinteye recalled that even with huge government spending on subsidy, Nigerians still faced persistent fuel scarcity. He also noted that petrol prices had started dropping before the Iran-United States conflict pushed them up again.

He warned that reintroducing subsidy would impose an unbearable financial burden on the country and asked where the money would come from to sustain it.

According to him, past administrations had to borrow to fund subsidy and even pay salaries, but current loans are tied to capital projects. “We should not return to that era,” he said.

The NANS president urged anyone seeking to lead the country to present clear plans on how subsidy savings will be used to improve lives, instead of promising to restore subsidy.

He pointed to the Nigerian Education Loan Fund (NELFUND) as one of the programmes already benefiting students since subsidy was removed.

He further stated that subsidy provision was removed from the 2023 Appropriation Bill prepared under former President Muhammadu Buhari, and that both the past and present administrations have maintained that the policy was unsustainable.

“Proposals by some political gladiators to reintroduce fuel subsidy amounted to political rhetoric rather than realistic economic policy. Focus should remain on ensuring that savings from subsidy removal are prudently managed for national development rather than returning to a policy that had proved unsustainable,” Akinteye stated.