The National Association of Nigerian Students (NANS) has voiced its concerns over the escalating inflation and economic hardship prevailing in the country.
According to the NANS Senate President, Akinteye Babatunde, the current economic state poses a significant threat to the financial stability of students.
In an interview on Tuesday, Babatunde highlighted the adverse impact of inflation, citing the soaring costs of imported educational materials, tuition fees, and transportation, which have exacerbated the financial challenges faced by students.
The devaluation of the naira against the US dollar, with the parallel market exchange rate reaching N1,420/$, has further exacerbated the situation.
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Manufacturers have anticipated subsequent price hikes in commodities, adding to the financial strain on students.
Babatunde emphasized the far-reaching consequences of hyperinflation on the educational sector, stressing that it undermines the very foundation of education and poses a grave threat to students’ future prospects.
In light of these challenges, NANS urged the Federal Government and the Central Bank of Nigeria to acknowledge and tackle the current hardships faced by Nigerians, particularly students.
Babatunde called for measures to stabilize the exchange rate and address hyperinflation effectively.
Highlighting the urgency of the situation, NANS urged the government to implement targeted palliative measures to alleviate the financial burdens on students.
Such initiatives should aim to safeguard students’ academic pursuits and prevent economic uncertainties from derailing their educational aspirations.
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