FG targets $8.79trn global business process outsourcing market
By Ukpono Ukpong
Vice President Kashim Shettima has launched the “Outsource to Nigeria Initiative” (OTNI), an initiative strategic to redirecting the talents and skills that abound in the country.
Shettima said the initiative is targeted at capturing a significant portion of the global Business Process Outsourcing (BPO) market, valued at $8.79 trillion.
The vice president stated that the initiative will produce millions of job opportunities and spur Nigeria’s Business Process Outsourcing (BPO) and IT-enabled service sector into growth that has never been witnessed before.
Shettima spoke on Monday in Gombe State during the launch of the OTNI, noting that the spotlight is now beaming on Nigeria, following the nation’s abundance of talents, a competitive cost structure, a rapidly improving ICT infrastructure, and a strategically advantageous location.
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He assured that the ongoing reforms being carried out by the Tinubu administration will soon guarantee a future “where all Nigerians will be grateful for the resilience and foresight displayed in navigating the nation towards economic prosperity.”
The vice president who expressed confidence in the OTNI to turn around the economic fortunes of the country said outsourcing, as an economic strategy, is not just about efficiency.
“It’s a profound recognition of our interconnectedness in the global economy. Outsourcing is also a strategy to counteract brain drain and channel our talents and skills into reconstructing a Nigeria that works.”
Noting that it’s time Nigeria recognised its potential, embraced and explored the markets that are yearning for the nation’s unique contributions, Shettima pegged the global business process outsourcing industry at 250 billion US dollars.
“The Outsource to Nigeria Initiative (OTNI) symbolises a pivotal alliance, a collaborative dance between the public and the private sector. This is a mission to produce millions of job opportunities and propel Nigeria’s Business Process Outsourcing (BPO) and IT-enabled service sector into unprecedented growth.
“OTNI is here to connect global companies with the abundant talents and capabilities inherent in Nigeria. This initiative marks a strategic leap forward, positioning Nigeria as an emerging outsourcing powerhouse ready to make an indelible mark on the global economic landscape.
“Today, we are not only presenting to you the Outsource to Nigeria Initiative (OTN) with the honourable aim of taking over the world. We present to you a lens to see the needs of the world, a bridge to interact with the world, and a vehicle to reach the world from the comfort of your offices and homes in Nigeria,” he said.
Shettima implored Nigerians to be patient with the Tinubu administration in respect of the economic decisions taken so far, explaining that though it may present some temporary challenges, they are a strategic investment targeted at strengthening the fabric of the nation’s economy.
“The tough decisions we have taken may pose short-term challenges, but rest assured, it is a strategic investment to fortify the foundations of our economy. As your guarantee, I affirm that the reforms in progress will not only weather the storms but usher in a future where we shall stand grateful for the resilience and foresight displayed in propelling our nation towards economic prosperity,” he stated.
Responding, Gombe State Governor, Muhammadu Inuwa Yahaya, noted that the decision to launch the initiative in the state was not a mere coincidence. The governor said it’s a testament to the state’s burgeoning potential and the exemplary strides it has made in fostering an enabling environment for technology innovation and economic growth.
“This strategic investment not only creates job opportunities but also signifies our proactive approach to providing the necessary infrastructure and resources to attract and support private investment,” he added.
Highpoint of the launch of the initiative was the commissioning and inspection of the Business Process Outsourcing (BPO) Centre by Vice President Shettima.
The BPO Centre, the first in the North East geopolitical zone, is expected to provide over 2,000 job opportunities to the youth population in the state and beyond.
