According to him, the latest data published by the Debt Management Office , which puts the country’s debt profile currently at N42 trillion – about four times the country’s total revenue budget yearly, makes the cost of borrowing more expensive.
Obadagbonyi said with more publicity and engagement with private stakeholders, some of the challenges bedeviling investing in port infrastructure can be fixed, adding that there are incentives available to investors in Nigeria. He said these tax laws can also be replicated in the ports system with great capital allowance provisions that encourage investors and attract private capital to the nation’s seaports.
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