To go back or bring back petrol subsidy for any form no go get any meaningful positive effect on di economy, na so finance and economic experts talk yesterday.

Dem all agree sey make nobody even think of bringing back subsidy payment, because e go destabilize di economy and reverse di steady progress wey dey happen now.

Experts describe any thought of returning subsidy as policy reversal wey no dey viable, no dey sustainable, na sentiment, e go cause problem, and e go injure economic growth and national development.

One-time Vice President Atiku Abubakar don promise sey if dem elect am, im administration go bring back subsidy payment.

But incumbent President Bola Ahmed Tinubu, on May 29, 2023, announce sey e don stop subsidy payment on petrol, and e promise sey di money wey Federal Government dey use to subsidize importers, dem go channel am to oda tins.

Those wey talk dia mind include Chief Executive Officer of Economic Associates, Dr. Ayo Teriba; Managing Director of Arthur Steven Asset Management, Mr. Olatunde Amolegbe; Managing Director of HighCap Securities, Mr. David Adonri; former Registrar of Chartered Institute of Bankers of Nigeria (CIBN), Dr. Uju Ogubunka; Chief Economist at ARKK Economics and Data Limited among odas.

Dem argue sey di money wey dey save from subsidy removal and oda incremental incomes from government reforms, dem suppose use am for critical infrastructural development, social welfare, and institutional support systems for di needy and vulnerable citizens.

Teriba, wey talk sey di proposal to reverse subsidy removal na more political tin than economic, note sey politicians dey always appeal to dia base for electoral purposes by making populist statements wey dem go find hard to implement.

According to am, to bring back subsidy on petrol go discourage investment and kill businesses for di oil and gas sector.

E note sey Dangote Refinery no go fit thrive as e dey do now if dem no remove subsidy on petroleum products.

Teriba talk sey whatever government policy be, e must make sure sey prices dey cost reflective to attract domestic and foreign investment.

E talk sey di question no suppose be whether subsidy suppose dey or not, because subsidy go always dey, but dem suppose do am di right way.

"Di truth be sey subsidy go always dey. Dis government dey subsidize CNG buses conversion, electric vehicles, and education through soft loans. Wetin I no support na price subsidy. I prefer make dem give coupons to di most vulnerable people, so dem go fit buy wetin dem need pass," Teriba talk.

Amolegbe, wey be senior investment banker and former president of Chartered Institute of Stockbrokers (CIS), talk di same tin, saying sey di ship don already sail on subsidy issue and e no dey likely to return for many reasons.