In a bid to expand the country’s business landscape, the Federal government is seeking the exploration of the Business Process Outsourcing (BPO) mechanism as a means of attracting more investment into Nigeria.
Speaking in Abuja on Wednesday at the International conference on Trade-In-Services organized by the Nigerian Export Promotion Council (NEPC), the Permanent Secretary of the Ministry of Industry, Trade and Investment, Dr. Evelyn Ngige said the Outsourcing field will revolutionize the business environment in the country.
According to her, “Outsourcing, particularly in the field of information technology-enabled services, has revolutionized the global business landscape. It has transcended geographical boundaries, enabling organizations to leverage expertise, reduce costs, and improve efficiency by tapping into talent pools around the world”.
She explained that “Business Process Outsourcing (BPO) is a practice where companies hire third- party service providers to handle specific business processes or operations.
“These service providers are typically located in countries where labor costs are lower, offering cost- effective solutions for businesses. BPO services can include customer support, technical support, data entry, accounting, human resources, and more.
“Globally, BPO has become a popular practice for businesses looking to reduce costs, increase efficiency, and focus on their core competencies”.
Ngige further explained that “the BPO industry has experienced significant growth over the years, with countries like India, the Philippines, China, and Mexico emerging as major outsourcing destinations due to their skilled workforce and competitive pricing.
“In Africa, the BPO industry has also been growing steadily. Countries such as South Africa, Kenya, Egypt, Ghana, and Mauritius have been attracting outsourcing investments.
“These countries offer various advantages like a favourable business environment, language proficiency, time zone compatibility, and government support. South Africa, in particular, has a well-developed BPO sector, providing services to both domestic and international clients.
“Nigeria, with its immense human capital, has the inherent potential to become a leading player in this transformative industry. The country boasts a large pool of educated and skilled professionals, including an English-speaking workforce, which is advantageous for English-language outsourcing services. Nigeria has seen growth in areas such as call centers, data entry, software development, and content moderation.
“To conclude, distinguished audience, I am confident that by focusing on outsourcing and information technology-enabled services, Nigeria can position itself as a global leader in this dynamic industry. Through the implementation of favorable policies, skills development, infrastructure enhancement, and strategic partnerships” she stated.
On his part, the Executive Director of NEPC, Dr. Ezra Yakusak noted that “it is not in doubt that Services Sectors are a major part of the global economy, generating more than two-thirds of the global Gross Domestic Product (GDP), attracting over three-quarters of foreign direct investment in advanced economies, employing the most workers, and creating most new jobs globally.
“The Outsourcing Industry has the capacity to boost human capital, drive the economy and bring about emerging technologies among others. Some of these services outsourced are financial, advertising, courier, customer support services, logistics, etc”.
Yakusak stated that the realization of the pivotal role of the services sector in the diversification of Nigerian export base, foreign exchange generation and creation of employment and incomes, motivated the NEPC to carve out the Trade in Services Unit in 2006 as the sole Unit responsible for issues of international trade in services.
“In pursuant to this, the Council came up with initiatives to identify and highlight the potentials of exportable services in the sector that could be packaged and marketed regionally and internationally in a purposeful and holistic manner in collaboration with the stakeholders.
“At this juncture, may I inform you that the National Conference on International Trade-in-Services will educate and build capacity of the Nigerian Business Community and accord participants an opportunity to interact and tap into the wealth of wisdom of the resource persons with a view to broadening our horizon in the Services sub-sector with emphasis on Outsourcing and IT-Enabled Services,” he stated.
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