The South-west zone of the National Association of Nigerian Students (NANS) yesterday threw its weight behind the removal of fuel subsidy by the federal government, saying that it was one of the sacrifices Nigerians have to pay for the development of the nation.
The students’ umbrella body, led by its coordinator, Comrade Ogunsola Okikiola at a press conference in Abeokuta, the Ogun State capital stated that “The scam called fuel subsidy has only succeeded in slowing down the growth of the nation’s economy.”
The press conference was attended by all the executive members of the zone which comprises, Lagos, Ogun, Oyo, Osun and Ekiti states.
They appealed to all Nigerians to support the policy, saying “It will do Nigerians more good than harm.”
Ogunsola who commended the government for taking the bold step after due consultation with necessary stakeholders said, the move would drastically reduce fuel scarcity in the country thereby eliminating the pains many Nigerians often go through in getting fuel.
According to NANS, “The federal government spends about N1.4trillion annually on fuel subsidy. This huge amount of money represents about 18 per cent of the 2016 Budget will go a long way in providing critical social infrastructure if invested in the economy.
“The fuel subsidy payment over the years has contributed in no small measure to corruption and perennial crisis in the downstream sector of the Nigerian oil and gas industry,” they added.