Shettima: Govt’s Policies Strategic to Strengthen Nation’s Economy

•Launches Outsource to Nigeria Initiative to capture share of $8.79trn global BPO market

Deji Elumoye in Abuja and Segun Awofadeji in Gombe

Vice President Kashim Shettima has launched the “Outsource to Nigeria Initiative” (OTNI), saying the project is strategic to redirecting the talents and skills that abound in the country. Shettima said the initiative targeted capturing a significant portion of the global BPO market valued at $8.79 trillion. The vice president spoke yesterday during the launch of OTNI in Gombe State.

He stated that apart from creating millions of job opportunities and spurring Nigeria’s Business Process Outsourcing (BPO) and IT-enabled services sector into growth that had never been witnessed before, the OTNI will link global firms with the abundant talents and skills in Nigeria.

Shettima stated that the spotlight was now beamed on Nigeria following its “abundance of talent, a competitive cost structure, a rapidly improving ICT infrastructure, and a strategically advantageous location.”

Delivering his address titled, “Bringing the World to Our Doorsteps,” the vice president described his principal, President Bola Tinubu, as a visionary leader and “refined economic strategist”, who had a firm grip on the distinction between the current situation in Nigeria and the route within the global landscape.

Shettima 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.

He said OTNI was capable of turning around the economic fortunes of the country.

Shettima 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.”

Stating that it was time Nigeria recognised its potential, embraced and explored the markets that were yearning for the country’s unique contributions, the vice president pegged the BPO industry at $250 billion.

According to him, “The Outsource to Nigeria Initiative (OTNI) symbolises a pivotal alliance, a collaborative dance between the public and private sectors. This is a mission to produce millions of job opportunities and propel Nigeria’s Business Process Outsourcing (BPO) and IT-enabled services 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.”

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.

He stated, “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.”

The vice president said Nigeria was on the verge of carving its own narrative within the global BPO landscape, as well as solidifying its role as a key player in the international business arena.

Shettima said Nigeria had “a colossal talent pool exceeding 200 million people and complemented by competitive labour costs, an evolving ICT infrastructure, unwavering government support, and a strategic location in proximity to European markets.” He said these had positioned Nigeria “as a prime outsourcing destination”.

Earlier in his speech, Gombe State Governor Inuwa Yahaya stated that the decision to launch the “Outsource To Nigeria Initiative (OTNI)” in the state was not a mere coincidence. Yahaya said it “is a testament to the state’s burgeoning potential and the exemplary strides we have made in fostering an enabling environment for technology innovation and economic growth.”

Yahaya explained that the partnership with Outsource Global was an indication of the tangible support the state government was willing to provide to businesses that chose to invest in Gombe State.

“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.

On her part, Founder/CEO of OTNI, Hajiya Amal Hassan, pegged the value of the Global BPO & ITES Market at $8.79 trillion in 2024, with India and the Philippines dominating at least 60 per cent of the market.

Hassan said Nigeria boasted “the highest potential among key African countries,” and was expected to register the fastest growth in the African BPO industry backed by various tailwinds, even as the country’s “demographics are well-suited to take advantage of the current global trend in global business.”

Hassan explained that the initiative would be accomplished through streamlined processes, using OTNI’s “digital platform WorkNation to help partners find, train, and deploy talents according to their requirements.

“Our goal is to showcase Nigeria as the preferred outsourcing destination, connecting Nigerian youth to global job opportunities, attracting investments, empowering youth, and boosting the economy through business process outsourcing and IT services.”

Similarly speaking, Senior Special Assistant to the Vice President, Office and Coordination, Dr. Usman Mohammed, said the Outsource Initiative, with the Office of the Vice President as the anchor, was a game changer for Nigeria that had come to stay.

Mohammed pointed out that “by harnessing the power of the private sector and leveraging government support”, the government was “laying the foundation for economic growth”.

Describing the launch of the initiative as a transformation that promises prosperity for millions of young Nigerians, he said, “I stand before you, Sir, with pride and gratitude as we embark on this collaborative effort between the Office of the Vice President and Outsource Global. Together we are ushering in a new era of economic empowerment and opportunity for our nation in alignment with the Renewed Hope Agenda set forth by President Tinubu.”

A highpoint of the occasion was the launch and inspection of the Business Process Outsourcing (BPO) Centre by the vice president.

The BPO Centre, the first in the North-east geo-political zone, is expected to provide over 2,000 job opportunities to the youth population of Gombe State. It makes the state a hub for outsourcing services, leveraging the skills and potential of its youth.