•Atiku Abubakar
The Atiku Nioo Campaign Organisation has backed former Vice President Atiku Abubakar’s call for the reversal of fuel subsidy and cancellation of the Nigeria Education Loan Fund (NELFUND), arguing that the subsidy removal and the introduction of student loans compounded the current hunger and hardship facing Nigerians.
The organisation also described the sudden removal of fuel subsidy shortly after the current administration assumed office in 2023 as a “sudden death” for Nigerians, arguing that the policy has contributed to the continued rise in the prices of food items and other essential products, reports Saturday Guardian.
It criticised President Bola Tinubu-led administration over its Renewed Hope policies, arguing that the hardship faced by Nigerians has worsened under the current government, particularly in the areas of security, electricity, the economy, infrastructure, and other critical sectors.
The Founder of the organisation, Prince Muyiwa Fafowora, speaking in Abeokuta, Ogun State, stated that following the removal of the subsidy, the prices of goods and services, as well as the cost of living, have skyrocketed, pushing the country to the brink of hyperinflation.
Fafowora noted that Abubakar was speaking for millions of Nigerians when he called for the return of fuel subsidy, noting that its reversal would not return citizens to the long queues at petrol stations, reduce the minimum wage as speculated, or plunge Nigeria’s economy into collapse.
He said the reversal could be implemented without any negative impact on Nigerians, due to the revival of some local refineries and the establishment of the Dangote Refinery, expressing regret that Nigeria continues to import fuel despite the removal of subsidy and still grapples with unstable petrol pump prices.
The founder also backed the former vice president’s criticism that the current government had failed to leverage Compressed Natural Gas (CNG) to cushion the impact of petrol subsidy removal, arguing that the number of vehicles converted to CNG remains low compared with limited CNG filing stations.
“You promised that you will remove subsidy and you will substitute it with CNG. CNG should be for all of us, that should have been 20 per cent of the petrol, but where is the CNG? There are 14 million cars on the road and you are talking about 150000 CNG powered vehicles with less than 2000 CNG powered outlets in the country.”
On NELFUND, Fafowora stressed that the student loan scheme has only deepened the poverty of underprivileged students in the country.
He explained that requiring students to borrow money to finance their education, only for them to graduate and face a lack of employment opportunities, amounts to a failed government policy.
He mentioned Tuition Assistance Programme, covering approximately two million students, would be introduced for learners in tertiary institutions under the Abubakar administration rather than through NELFUND, explaining that the programme would provide financial support to students by covering their tuition fees and settling outstanding payments under NELFUND.
