Nigerian students reject Atiku's fuel subsidy restoration plan

Nigeria's student body has voiced strong opposition to former Vice President Atiku Abubakar's pledge to reinstate the controversial fuel subsidy if he wins the 2027 presidential election. The National Association of Nigerian Students (NANS) has labeled Abubakar's proposal as a politically motivated promise aimed at alleviating immediate economic hardship, rather than a viable long-term strategy for the nation's fiscal health.

Akinteye Babatunde, NANS President, stated that returning to the previous subsidy regime without a robust structural framework would inevitably recreate the very issues that rendered the policy unsustainable. He emphasized that NANS' stance is not politically aligned but stems from its responsibility to critically assess government policies and speak on matters of national importance.

Babatunde asserted that any informed and patriotic Nigerian would acknowledge that the removal of the fuel subsidy, though difficult, was a necessary economic reform. He highlighted that the old system was increasingly unsustainable, consuming trillions of naira, disproportionately benefiting heavy fuel users, encouraging smuggling, and limiting the government's capacity to invest in crucial sectors.

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Every sane and patriotic citizen who is conversant with our nation’s economy will agree with me that the removal of the fuel subsidy was a difficult but necessary economic reform aimed at ending an increasingly unsustainable system that consumed trillions of naira, benefited higher fuel consumers disproportionately, encouraged smuggling, and constrained the government’s ability to invest in critical sectors.

The debate has intensified ahead of the 2027 general elections, with Abubakar maintaining his commitment to restoring the subsidy as a means of providing relief to citizens struggling with high living costs. His campaign has clarified that the proposed intervention would focus on domestic production to reduce costs and ease the burden on the populace, countering earlier suggestions that it might be a temporary measure.

President Bola Tinubu's administration removed the petrol subsidy in May 2023, a decision that led to a significant increase in fuel prices and contributed to rising transportation, food, and household expenses. While the government defends the removal as essential for eliminating a costly fiscal burden and enabling investment in critical areas, the immediate hardship experienced by Nigerians has made it a contentious issue. NANS acknowledges the difficulties imposed by the subsidy removal but insists that the focus should be on the effective deployment of saved resources for public welfare, rather than a return to the previous system.

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The real test of the reform was not simply the amount of money saved but how the government deployed the resources.