TheCable

BY FEMI ADELUYI

The transformative journey of a nation begins with a single ambitious leap – and earlier this week, Nigeria took such a leap. The memorandum of understanding signed with Lab Four, a US-based company, represents a promise of economic renaissance, a blueprint for empowerment, and a manifesto of Nigeria’s global talent ascendancy.

As I reflect on this momentous agreement, I find my optimism not just in the potential creation of 50,000 jobs but in the broader vision it signifies. This MoU is not just a transaction; it’s a transformation – a pivotal turn in our relentless pursuit of a diversified, knowledge-driven economy envisioned by our foresighted leaders, His Excellency President Bola Ahmed Tinubu, GCFR, and the dynamic stewardship of the honourable minister of industry, trade and investment, Doris Uzoka-Anite.

The National Talent Export Programme (NATEP), spearheaded by the ministry, is strategically positioned to tap into the global outsourcing market, enabled by global trade and the digital revolution. The market is poised to expand from US$620.381 billion in 2020 to an astonishing US$904.948 billion by 2027. NATEP is not merely an attempt to make up the numbers of the global outsourcing industry, rather it a bold move to position Nigeria as a powerhouse in that industry.

In line with President Tinubu’s Renewed Hope Agenda, NATEP is a beacon of hope for job creation, particularly for our youth. It channels the vibrant energies of our youthful population into productive global engagements. This has a huge potential for impact when we consider the fact that our youth make over 60% of our nation’s population. It also integrates the need for inclusivity; NATEP targets 55% of women and 10% of people living with disabilities as beneficiaries of its initiatives. Our ambitious goal to create one million jobs reflects not just a quantitative target but a qualitative transformation that will harness Nigeria’s intellectual resources, enhance our brand identity, and boost our foreign exchange earnings.

For me, NATEP is more than just a programme; it’s a national movement! Through this movement, we are essentially scripting a narrative of transformation that spells a shift from an economy of dependence on resources to a services and knowledge-driven one, powered by a young and skilled workforce. We are poised to create 1 million jobs in 5 years, catalyze economic growth, and contribute toward GDP expansion.

India’s outsourcing and talent export movement started in the late 1980s but gained momentum about 30 years ago and has triggered a steep rise in the number of CEOs of Indian descent in the biggest companies in Silicon Valley, with many more in the top hierarchy of these companies. That movement has led to an increase of over 5 million percent in the annual value of the Indian outsourcing industry from $3.5 million in 1980 to $177 billion in 2022. Nigeria has all it takes to follow a similar trajectory and NATEP is Nigeria’s prime initiative for this.

NATEP has the following strategic pillars for developing a fertile ecosystem for talent growth and export: policy support; skills and talent pipeline; infrastructure & innovation; partnership and collaboration; talent export facilitation; finance & incentives; and monitoring evaluation research & learning (MERL). We are creating a conducive environment that will catalyse the growth of the BPO industry- enabling the private sector to create high quality micro, mini and mega BPOs across the country, such that each worker can have a BPO within 25km from their residence.

Our focus sectors encapsulated in the “IMPACT” acronym—I for Insurance, M for Medical, P for Professionals, A for Artisans, C for Creative, and T for Technology—have been strategically chosen to position global demand next to local supply. These sectors align with trends in the global labour market that provide great employment opportunities that the nation can take advantage of.

The annual remittances of over $20 billion from Nigerians living abroad already hints at the global footprint of our human capital, and the MoU with Lab Four, which is set to channel 50,000 BPO jobs into Nigeria, amplifies this capacity. We expect our efforts through this MoU to contribute up to $1.2 billion per year in support of the Nigerian economy.

The NATEP initiative is an invitation to every BPO, every talent exporter, and every job seeker to take advantage of the huge opportunities being created. The stage is set, and the world awaits the ingenuity and prowess of Nigerian talent. Register at www.natep.gov.ng, and be an active stakeholder in this transformative journey.

Through NATEP we are dreaming big, starting small but scaling fast! Together, we will not just chase the horizon of prosperity; we will redefine it, turning renewed hope into a vibrant reality for every Nigerian.

Dr Femi Adeluyi is the national coordinator of the National Talent Export Programme (NATEP), an initiative of the ministry of industry, trade and investment