THE National Association of Nigerian Students (NANS) has cautioned Nigerians, especially young people, against supporting political campaigns calling for the restoration of fuel subsidies.
News Point Nigeria reports that the NANS National President, Babatunde Akinteye, made the remarks on Tuesday during a youth summit held in Akure, Ondo State.
The event, sponsored by the Minister of Interior, Olubunmi Tunji Ojo, had the theme, “Unlocking Ondo State Students’ Potentials for Economic Growth.”
Instead of supporting calls for the return of the subsidy, the students’ body urged citizens to demand openness and proper management of the funds saved following the removal of the subsidy.
Akinteye said Nigeria operated the fuel subsidy system for several decades, adding that successive governments and economic experts had repeatedly described the policy as financially difficult to sustain.
He argued that public attention should now be directed towards ensuring that money previously spent on subsidising petrol is properly invested in projects that improve the lives of Nigerians.
According to him, citizens must hold the government accountable for how subsidy savings are being utilised rather than demanding the return of a policy that, he said, largely benefited only a small number of people.
He noted that despite the huge amounts spent by previous administrations on fuel subsidy, Nigerians frequently faced shortages of petroleum products.
The NANS president also said petrol prices had started showing signs of reduction before the outbreak of the Iran-United States conflict, which he said contributed to the recent rise in fuel prices.
Akinteye warned that reintroducing the subsidy would create significant financial pressure on the country’s economy.
He said previous governments often depended on borrowing to meet recurrent obligations, including subsidy payments and workers’ salaries.
“Today loans are largely tied to specific capital projects rather than recurrent expenditure such as salaries or fuel subsidy. We should not return to that era,” he said.
The student leader maintained that individuals seeking political office should focus on presenting realistic strategies for using subsidy savings to improve the welfare of Nigerians rather than making promises to restore the policy.
He pointed to the Nigerian Education Loan Fund as one of the initiatives that had supported students following the removal of the fuel subsidy.
Akinteye urged Nigerians to prioritise accountability and productive investment of public resources, stressing that the country’s future would be better served by ensuring that subsidy savings are used for programmes that benefit the wider population.