The National Association of Nigerian Students (NANS) has firmly rejected recent calls from some political figures to reinstate the fuel subsidy in Nigeria. The student body emphasized that the focus should instead be on ensuring accountability regarding the savings generated from the removal of the subsidy.

Speaking at a youth summit in Akure, Ondo State, NANS President Babatunde Akinteye articulated the association's stance, urging Nigerian youths and citizens to resist the push for a return to the subsidy regime. He highlighted that Nigeria has operated under a fuel subsidy system for nearly forty years, a model that has been deemed financially unsustainable by various economists and policy analysts.

Akinteye stated, "We should monitor the money being saved from the removal of fuel subsidy and ensure it is channeled into projects and programmes that benefit all Nigerians instead of returning to a system where a few individuals cornered resources meant for the entire country." He pointed out that despite significant government spending on subsidies, Nigerians continued to face fuel scarcity during the subsidy era.

The NANS president noted that petrol prices had begun to decrease prior to the recent conflict between Iran and the United States, which has contributed to the current rise in fuel prices. He warned that reinstating the subsidy could impose an unbearable financial burden on the nation, questioning the sustainability of such payments.

Akinteye remarked, "Previous administrations often resorted to borrowing to finance fuel subsidy and, in some instances, to pay 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 urged political leaders to present practical plans for investing the savings from the subsidy removal into initiatives that would enhance the lives of citizens rather than simply promising to restore the subsidy. The NANS leader cited the Nigerian Education Loan Fund as a successful intervention that has benefited many students since the subsidy was removed.

The conversation around fuel subsidy reinstatement has gained traction, particularly with recent criticisms from the All Progressives Congress (APC) against former Vice-President Atiku Abubakar’s proposal to restore the subsidy. The APC warned that such a move could reverse the economic progress achieved under current reforms, potentially leading to adverse effects on wages, education, and infrastructure.

Furthermore, the African Democratic Congress has called on the Federal Government to account for the N15.8 trillion in additional revenues claimed to have been accrued from the reforms. The political landscape surrounding the fuel subsidy issue remains contentious, with NANS advocating for a focus on transparency and accountability in the management of funds saved from the subsidy’s removal.