The National Association of Nigerian Students has appealed to the federal government to rescind its decision to replace fuel subsidy with a payment of a N5, 000 allowances to four million citizens of the country.
Addressing journalists at a press conference in Abeokuta, Ogun State yesterday, the Zone D NANS coordinator, Olatunji Adegboye, said the proposed removal of fuel subsidy is “a perfect recipe for an aggravated pile of hyper-inflation”, insisting that any increase in fuel price now would compound the economic hardship of Nigerians.
The NANS coordinator explained that such a move by the federal government can lead to a degeneration of the current security situation in the country and ultimately resulted in citizens’ revolt.
“This decision is not only ridiculous and comical but a disgrace to the sensibilities of Nigerians. Already, the standard of living in the country is at an all-time low and people can no longer afford to eat twice a day. To say that we are worried about the current state of the economy will be an understatement.”
The largest body of students in Nigeria noted that the inflation rate within the past two years, had risen astronomically thereby, impacting negatively on the cost of living of the citizens.
“The value of Naira has become more or less useless with hyper-inflation as a result of the senseless continuous devaluation of naira which has plunged the economy into complete comatose.”