Nigeria urged to explore BPO
Nigeria is urged by several experts to boost its services exports and explore the Business Services Outsourcing (BPO) industry to increase employment and economic development.
According to Joachim MacEbong, a senior analyst at SBM Intelligence, the country must learn to be export-focused to achieve prosperity for its large population.
He also stated, “We need to address our hostility to foreign capital. Having more French speakers could help Nigeria take advantage of the AfCFTA (Africa Continental Free Trade Agreement) by clearing the language barrier against services.”
Meanwhile, economist and Editor-in-Chief at Stears Business, Tokunbo Afikuyomi also commented that Nigeria did not have services orientated for demand in the international market.
“What we should do is follow the Indian model by becoming the world’s alternative services hub. Nigeria is the fourth largest English-speaking country, with a favorable time zone and lots of cheap labor,” he added.
Afikuyomi concluded that World Bank data showed that if Nigeria used the services angle to take advantage of the AfCFTA, an estimated 200,000 jobs could be created.
