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The Nigerian Export Promotion Council, NEPC, says Nigeria targets to earn five billion dollars from the outsourcing industry in 2024.
The Executive Director/CEO of NEPC, Ezra Yakusak stated this at the National Conference on International Trade-in-Service organised by the Council in Abuja.
According to Yakusak, the outsourcing industry has the capacity to boost human capital, drive the economy and bring about emerging technologies.
He said some of the services outsourced are financial, advertising, courier, customer support services, logistics, etc.
“In recent years, Nigeria has become an increasingly attractive destination for outsourcing, particularly in areas of call center operations, software development and back office support and the country’s high population and relatively low labor cost, favourable time zone, and English proficiency make it an appealing location for business seekers to outsource certain tasks or functions,’’ the Executive Director of NEPC explained.
Dr Yakusak said Nigeria is moving gradually and focusing more on export of services because it is an area that had been neglected for a long time.
“It has so much potential but if our services sector is well harnessed we can earn more than the 4 .8 billion dollars we are earning from our products and we are looking at five billion dollars in 2024,’’ He stated.
He added that trade in services had emerged as the driving force that shapes the global economic landscape of countries.
On her part, the Permanent Secretary, Ministry of Industry, Trade and Investment, Dr. Evelyn Ngige said outsourcing, particularly in the field of information technology-enabled services revolutionised the global business landscape.
Represented by the Director of Trade in the Ministry, Mr Suleiman Audu, the Permanent Secretary stated that the sector transcended geographical boundaries and enabled organisations to leverage expertise.
Matthew Ayoola, Edited By Grace Namiji
Written by: Bukky Alabi
FG Kapitalfm 92.9 Outsourcing Industry
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