FG targets $5bn from outsourcing industry in 2024

The Nigerian Import Promotion Council( NEPC) on Wednesday in Abuja said that Nigeria targets to earn five billion bones from the outsourcing assiduity in 2024.

The Administrative Director of NEPC, Dr Ezra Yakusak said this at the National Conference on International Trade- in- Service organised by the council, on Wednesday in Abuja.

According to Yakusak, the outsourcing assiduity has the capacity to boost mortal capital, drive the frugality and bring about arising technologies.

He said that some of the services outsourced are fiscal, advertising, courier, client support services, logistics,etc.

“ In recent times, Nigeria has come an decreasingly seductive destination for outsourcing, particularly in areas of call center operations, software development and aft office support.

“ The country’s high population and fairly low labour cost, favourable time zone, and English proficiency make it an charming position for business campaigners to outsource certain tasks or functions, ’’ he said.

According to him, Nigeria is moving gradationally and fastening more on import of services because it’s an area that has been neglected for a long time.

He said it was a sector where we could get high profit exchange earnings.

“ It has so important eventuality but if our services sector is well exercised we can earn further than the 4.8 billion bones we’re earning from our products.

“ We’re looking at five billion bones in 2024, ’’ he said.

Yakusak said trade in services had surfaced as the driving force that shapes the global profitable geography of countries.

“ In substance, the future of global trade is services, ’’ he said.

Also speaking, Dr Evelyn Ngige, Permanent Secretary, Ministry of Industry, Trade and Investments, said that outsourcing, particularly in the field of information technology- enabled services revolutionised the global business geography.

Represented by Mr Suleiman Audu, Director of Trade in the ministry, Ngige said that the sector transcended geographical boundaries and enabled organisations to influence moxie.

She added that it reduced costs and bettered effectiveness by tapping into gift pools around the world.

“ Nigeria, with its immense mortal capital, has the essential eventuality to come a leading player in this transformative assiduity.

“ The country boasts of a large pool of educated and professed professionals, including an English- speaking pool, which is profitable for English- language outsourcing services.

“ Nigeria has seen growth in areas similar as call centers, data entry, software development, and content temperance, ’’ Ngige said.

She said that to harness openings presented by outsourcing and ITES, Nigeria must borrow amulti-faceted approach that encompasses several crucial areas.

Ngige emphasised that it was essential to produce a competitive position and conducive business terrain to the growth of the outsourcing assiduity.

“ This involves enforcing programs that produce a favorable business climate, icing ease of doing business, and furnishing a position playing field for both original and transnational players.

“ We must streamline regulatory processes, simplify nonsupervisory fabrics and offer seductive impulses to investors and businesses seeking to establish or expand their operations in Nigeria, ’’ Ngige said.