The National Association of Nigerian Students (NANS) on Monday threatened called on the Federal Government to address the pangs of inflation that have impoverished students across the country.
“The dreams and aspirations of students should not be stifled by economic uncertainties. Before the struggles intensify, and desperation drives students to the streets, this plea is a call for swift, concrete actions,” the student body warned in a statement signed by Akinteye Babatunde, President of the Senate, NANS Headquarters.
Akinteye in the statement titled: “Rising Dollar, Inflation, and the Plea for Palliative for Nigerian Students: A Call for Urgent Action”, lamented that the economic downturn in the country and inaction by the government is threatening the educational pursuit and dreams of students in Nigeria.
The statement reads in part, “In the corridors of education, a growing storm is threatening the dreams of students across Nigeria. The surge in the value of the dollar has cast a shadow, creating ripples that extend far beyond economic circles.
“The hyperinflation gripping the nation not only inflates the cost of goods and services but is now a severe threat to the financial stability of the very students who are the backbone of the future.
“This is not merely a matter of economic shifts; it’s a poignant issue affecting the essence of education. The impact is deeply felt as the cost of imported educational materials, tuition fees, cost of transporting ourselves to school skyrocket, rendering essential resources elusive for many.
According to NANS, the general increase in the cost of living, intensified by hyperinflation, has left many students grappling with financial strain and uncertainty that might lead to a compromise of their academic pursuits.
“In response to this pressing issue, we, the students, implore the Nigerian Government and the Central Bank of Nigeria (CBN) to recognize and address the unique challenges we face. The urgency of the situation cannot be overstated, and decisive actions are needed to mitigate the profound impact of this economic upheaval.
“Our plea is threefold, firstly stabilizing the exchange rate by implementing measures to stabilize the exchange rate is critical. A more predictable and affordable environment will alleviate the financial burden placed on students, allowing them to navigate their educational journeys with a degree of economic stability.
“Secondly, combating and addressing hyperinflation is paramount. Strategies must be devised and executed to prevent further erosion of the purchasing power of students. An unchecked inflationary spiral threatens the very foundation upon which education rests.
“Also, direct palliatives for students are very crucial and paramount at this prior of time. Recognizing the unique challenges faced by students, we urge the initiation of a targeted palliative plan.
“This plan should directly address the financial burdens on students, ensuring that their academic pursuits are not derailed by economic uncertainties.
As we voice these concerns, it’s essential to understand that the urgency of this matter cannot be overstated,” the statement added.