Fuel price hike: Recipe for disaster and need to reconsider, by Tiamiyu OLAYINKA, student leader
Comrade Tiamiyu Olayinka Principle is vice president National Association of University Students (NAUS), South West
The recent fuel price increment has sent shockwaves across the nation, exacerbating the existing economic hardship and plunging vulnerable populace into deeper despair. As representatives of the students constituency and the broader community, we cannot remain silent in the face of this devastating decision.
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The pump price l increment is not just a numerical adjustment; it has real-life consequences for millions of Nigerians. Students, already struggling to make ends meet, now face increased transportation costs, making it difficult to attend classes and access educational resources. This, coupled with higher food prices, exacerbates food insecurity and malnutrition. The ripple effect extends to small businesses, which struggle to absorb increased operational costs, leading to reduced economic opportunities and deepened poverty.
The economic implications of this decision are far-reaching. The fuel increment stifles economic growth, undermining the government’s efforts to revitalize the economy. Key sectors such as agriculture, manufacturing, and small and medium enterprises (SMEs) – the backbone of any economy – face increased production costs, threatening food security and competitiveness. Notably, the ripple effect of this increment is serving as a recipe to civil unrest that would make the recent 10-day protest a child’s play.
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Thus, to avoid break down of law and order, we urge government to reconsider this decision, acknowledging the far-reaching consequences on education, economic growth, and social welfare. The fuel increment undermines students’ access to education, already compromised by economic constraints. Vulnerable populations, including the elderly, pregnant women, and people living with disabilities, face intensified hardship.
To mitigate the effects of the fuel price increment, we propose suspending the increment to alleviate immediate economic pressure. The government should engage stakeholders in constructive dialogue to explore alternative solutions, implement targeted subsidies for vulnerable populations, and invest in renewable energy resources to reduce dependence on fossil fuels.
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We appeal to government to be compassionate and be committed to the welfare of its citizens. Reconsidering the fuel increment will demonstrate a responsive and empathetic leadership, dedicated to mitigating hardship and promoting economic stability. The fuel increment is a recipe for disaster, exacerbating poverty, stifling economic growth, and undermining social welfare.
We urge the government to reconsider this decision and engage with stakeholders to find alternative solutions that prioritize the well-being of Nigerians.
