NANS calls for student loan increase to N40,000 amid fuel price hike

NANS calls for student loan increase to N40,000 amid fuel price hike

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.

The National Association of Nigerian Students (NANS) has called on the Federal Government to raise the student loan amount from N20,000 to N40,000, citing the recent increase in fuel prices as a significant factor. Babatunde Akinteye, the NANS Senate President, made this demand during a press conference in Abuja on Monday.

Akinteye emphasized that increasing student loans is necessary to help students manage the rising cost of living and continue their education without facing excessive financial hardship. He also urged the government to reduce its excessive spending, arguing that those in leadership positions should set an example during these challenging times.

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Calling for calm, Akinteye expressed optimism that President Bola Tinubu’s economic reforms would yield positive results. “We are at a crucial point in our nation’s history, where economic reforms have brought discomfort, hunger, and despair,” he said. “The reality is daunting, and the uncertainty is undeniable, but we must remain united and focused.”

He cautioned against destructive actions, stating, “Burning down our country is not an option; it is not a solution. As Africa’s leading student and youth movement, we share the same struggles, hopes, and aspirations as all Nigerians.”

Akinteye encouraged a thoughtful and strategic approach to the current economic challenges, which include foreign exchange fluctuations, fuel shortages, and rising food prices. He urged the government to address these issues directly, noting that the high fuel cost is especially burdensome for students and the lower-income population.

“We understand that Nigerians, particularly students, are deeply affected by high fuel prices, as our economy heavily relies on fuel,” Akinteye said. “The lower class feels the impact most intensely, and their distress is understandable. However, it is vital to handle these issues with caution and strategy.”

He also highlighted the need to resist reacting hastily, as the nation’s mood is tense and people are on edge. “Many are waiting for a spark to ignite unrest, but we must avoid acting hastily. Preserving life and liberty is crucial,” he added.

Akinteye assured that the safety of Nigerian students remains NANS’s top priority, stating, “We will not risk exposing them to danger by hastily calling for protests.”

NANS calls for student loan increase to N40,000 amid fuel price hike