Chief Bola Ahmed Tinubu’s administration has announced plans to generate 500,000 new job opportunities aimed at addressing the nation’s youth unemployment crisis.
The initiative stems from a strategic collaboration with the U.S. Cybersecurity Institute, Lab Four, to establish 50,000 business process outsourcing (BPO) roles within the next three years.
During the signing of a Memorandum of Understanding (MoU) in Abuja, Doris Anite, Minister of Industry, Trade, and Investment, highlighted the significance of this partnership in bolstering Nigeria’s economy.
The job categories include telesales, customer service, virtual administrative assistant, marketing/social media assistant, and tech/cybersecurity positions.
Anite emphasized that these employment opportunities have the potential to inject up to $1.2 billion annually into Nigeria’s economy through employee remuneration, along with an additional $60 million allocated for the development of the BPO ecosystem.
Ms Anite stated, “The jobs generated through this partnership have the potential to annually attract up to $1.2 billion into the Nigerian economy through remuneration for the employed.
“In addition to about $60 million that it will provide to develop the BPO ecosystem through direct support to the individual BPOs.”
The minister said the four-pronged objectives of the NATEP initiative were to deliver one million service-export jobs over the next five years and increase foreign exchange earnings and revenue for Nigeria.
She noted that to successfully implement the mandate of NATEP, there was a need for strategic partnerships, both with institutions within Nigeria and those overseas.
“As such, our partnership with Lab Four will be one of the many partnerships we will have to ensure that Nigeria becomes a global hub for thriving micro, mini, and mega BPOs,” she disclosed.
Speaking further, Femi Adeluyi, the national coordinator of NATEP, assured transparency in the selection process, particularly targeting the small and medium enterprise (SME) sector.
Anthony Okhiria, executive director of Lab Four, reaffirmed the firm’s commitment to amplifying job creation efforts within Nigeria.
READ ALSO: APC Youth Leader Threatens Tinubu Over Wike, Promises To Withdraw Support
Recognizing Nigeria’s abundant human capital and burgeoning IT sector, John Dunham, a representative of the United States Embassy, lauded the initiative as a potential game-changer for the nation.
Dunham articulated, “Another very important part is the rapid growth of IT, entrepreneurs and exporters in the country, particularly among the young people.
“And I am happy to see that the U.S. is trying to encourage the growth of this sector; that will be a game changer for Nigeria,” he added.
The global talent-sourcing industry, valued at $620.381 billion in 2020, is forecasted to reach $904.948 billion by 2027, indicating significant potential for growth and impact in Nigeria’s job market.
