FG targets $5bn from outsourcing industry in 2024

<p>Yakusak said trade in services had emerged as the driving force that shapes the global economic landscape of countries.</p>, <span>Executive Director of NEPC, Dr Ezra Yakusak. nepc</span>, <h2>The Nigerian Export Promotion Council (NEPC) on Wednesday in Abuja said that Nigeria targets to earn five billion dollars from the outsourcing industry in 2024.</h2>, <p>The Executive Director of NEPC, Dr Ezra Yakusak said this at the National Conference on International Trade-in-Service organised by the council, on Wednesday in Abuja.</p>, <p>According to Yakusak, the outsourcing industry has the capacity to boost human capital, drive the economy and bring about emerging technologies.</p>, <p>He said that some of the services outsourced are financial, advertising, courier, customer support services, logistics, etc.</p>, <p>“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.</p>, <p>“The country’s high population and relatively low labour cost, favourable time zone, and English proficiency make it an appealing location for business seekers to outsource certain tasks or functions,’’ he said.</p>, <p>According to him, Nigeria is moving gradually and focusing more on export of services because it is an area that has been neglected for a long time.</p>, <p>He said it was a sector where we could get high revenue exchange earnings.</p>, <p>“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.</p>, <p>“We are looking at five billion dollars in 2024,’’ he said.</p>, <p>Yakusak said trade in services had emerged as the driving force that shapes the global economic landscape of countries.</p>, <p>“In essence, the future of global trade is services,’’ he said.</p>, <p>Also speaking, Dr Evelyn Ngige, Permanent Secretary, Ministry of Industry, Trade and Investments, said that outsourcing, particularly in