Business
NANS Urges Government to Cut Education Costs Instead of Offering Student Loans

The National Association of Nigerian Students (NANS) has called on the Federal Government to focus on reducing the high cost of education rather than relying on the student loan scheme recently introduced.
NANS Senate President, Henry Okuomo, voiced this concern during an interview on Sunrise Daily, a program on Channels Television, on Friday.
Okuomo emphasized that cutting the cost of education would have a more meaningful and lasting impact on Nigerian students compared to offering loans, especially considering the country’s high unemployment rate, which may make it difficult for students to repay these loans in the future.
“For now, the process of accessing these loans is unclear. We don’t know the criteria, who the beneficiaries are, or how students can apply.
We have heard from many students who have attempted to get the loans but were unsuccessful,” Okuomo explained.
He also noted that efforts to engage with NELFUND, the body responsible for administering the loans, have so far been met with no concrete response.
Rather than offering loans with uncertain repayment options, Okuomo proposed a more effective solution: drastically reducing the cost of education at tertiary institutions.
He suggested that fees be lowered to a more affordable range, between N20,000 and N50,000, making higher education accessible to a broader segment of society.
“If education is affordable, more students will be able to attend without needing loans. Even with the loan scheme, we still don’t fully understand the repayment terms.
With many graduates unable to find jobs, how can they be expected to pay back these loans?” he questioned.
The student loan scheme, introduced by President Bola Tinubu as a key part of his administration’s education reform, was designed to support students from low-income families in paying their tuition fees at Nigerian universities and other higher institutions.
This initiative was formalized through the signing of the Access to Higher Education Act, which created the legal framework for granting financial aid to indigent students.
Despite this, NANS argues that the initiative, while well-intentioned, does not address the core issue facing Nigerian students—skyrocketing tuition fees.
Reducing the cost of education, according to Okuomo, would not only lessen the financial burden on students but also eliminate the risk of students being saddled with debt they may struggle to repay due to Nigeria’s challenging job market.
Okuomo’s remarks have reignited the conversation around affordable education in Nigeria, sparking debate about the best way to provide relief for students without further complicating their financial futures.
Business
IPMAN to Reduce Fuel Prices After Dangote Refinery’s Petrol Price Drop

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it will announce a new, lower petrol price on Monday, following the recent price slash by Dangote Refinery. Dangote Refinery had dropped its ex-depot price for petrol from N840 to N820 per litre on Thursday, prompting IPMAN to consider adjusting its rates in response.
Speaking on the development, IPMAN President, Abubakar Maigandi, said the association is aligning with the move and will meet to finalize a fresh price cut for petrol. “Our members will also reduce their prices,” Maigandi said. “We’ll make an official announcement on the new fuel price after our meeting on Monday.”
As of Friday, filling stations across Abuja were selling petrol at varying prices, between N905 and N945 per litre. While NNPC, NIPCO, AA Rano, and Shema outlets were dispensing around N910, Dangote-linked stations like AP and Ardova offered it slightly lower at N905. Others, including Ranoil, Empire Energy, and Total Emadeb, were selling at the higher end, up to N945.
Business
Cooking Gas Price Increases by 2.18% as Nigerians Pay More to Refill

The cost of refilling a 12.5kg cylinder of cooking gas in Nigeria went up slightly in May 2025, rising by 2.18% compared to the previous month. The average price now stands at N20,709.11, up from N20,268.06 recorded in April. This update was captured in the latest Liquefied Petroleum Gas (LPG) Price Watch report for May, released by the National Bureau of Statistics (NBS).
According to the report, Delta State topped the list with the highest refill price at N23,356.56, followed by Abia at N22,953.01, and Ebonyi at N22,943.30. On the other hand, residents in Yobe, Lagos, and Kebbi states paid the least, with refill prices of N18,500, N18,536, and N18,606.60, respectively.
When compared to the same period last year, gas prices have jumped significantly, rising by 32% from N15,627.40 recorded in May 2024 to the current average. The NBS is yet to release figures for June 2025.
Business
GTCO Announces Nationwide Early Closure on June 30 for Half-Year Audit

Customers of Guaranty Trust Holding Company (GTCO) across Nigeria should brace for early branch closures on Monday, June 30, 2025, as the banking group kicks off its routine half-year audit.
In an official announcement shared on their verified X (formerly Twitter) page, GTCO informed customers that all their branches nationwide will stop attending to walk-in customers earlier than usual to allow for internal review processes.
The bank assured the public that this temporary adjustment is strictly for operational reasons tied to their mandatory half-year audit, a common practice among financial institutions to check financial records, processes, and compliance levels.
While in-person services will pause earlier that day, GTCO encouraged customers to make use of their digital banking platforms. Options such as internet banking, mobile apps, ATMs, and USSD codes, which will remain available 24/7 for essential banking transactions.
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