The President of the National Association of Nigerian Students (NANS), Babatunde Akinteye, has criticised politicians promising to restore fuel subsidy ahead of the 2027 elections, describing such pledges as political rhetoric that ignores Nigeria’s economic realities.
Akinteye said fuel subsidy was no longer sustainable, arguing that Nigeria had operated the policy for about four decades without achieving lasting benefits.
Speaking with journalists in Akure, the NANS president said the focus should now be on how resources saved from subsidy removal can be invested to improve the lives of Nigerians, particularly students and young people.
“The argument should now be how Nigerians can follow up on the gains from subsidy removal and ensure the money saved is used for the benefit of all.”
He warned against returning to a system where a small group of people allegedly benefited from resources meant for the wider population.
Akinteye also dismissed the possibility of any serious presidential candidate sustainably restoring fuel subsidy, despite rising international oil prices.
“There is no presidential candidate, there is none of them that will come on board as president and return fuel subsidy because it is clearly not sustainable.”
He urged students and youths to demand clear explanations from politicians about how they intend to fund any proposed subsidy programme.
The NANS president linked current fuel price pressures partly to developments in the global oil market and international conflicts but cautioned against using the economic hardship Nigerians are experiencing as justification for returning to subsidy.
He said successive governments had recognised the financial burden of subsidy and had previously relied on borrowing to meet recurrent obligations, adding that the current practice of linking borrowing to specific projects was preferable.
Akinteye said Nigerians should instead demand that politicians seeking to succeed President Bola Tinubu present clear plans for investing subsidy savings in productive sectors of the economy.
He also commended some programmes of the Tinubu administration, particularly the Nigerian Education Loan Fund (NELFUND), which he said was providing tangible support to students.
“I know what NELFUND is doing to Nigerian students.”
Akinteye further recalled that the decision to end fuel subsidy was not entirely new to the Tinubu administration, noting that the 2023 budget had already provided for the termination of subsidy payments by June before Tinubu assumed office.
He therefore described promises to restore the subsidy ahead of the 2027 elections as political rhetoric disconnected from Nigeria’s fiscal realities.
Source: NANS President, Babatunde Akinteye.
