TheCable

Vice-President Kashim Shettima will launch the outsource to Nigeria initiative (OTNI), a private sector-led, government-enabled programme, anchored by his office.

In a statement on his X account on Thursday, Shettima will launch the initiative on March 4, 2024, in Gombe state.

OTNI, according to the statement, is designed to create jobs in the business process and technology-enabled outsourcing sector and enable Nigeria to tap into a $350 billion global outsourcing market.

“The federal government has queued into the thriving global outsourcing market which has grossed almost $350 billion for seven top countries that engaged in it, with a view to tapping into its huge job opportunities for the nation’s teeming youths,” Shettima said.

He said the initiative is part of efforts and determination to actualise the agenda of President Bola Tinubu’s administration on job creation.

The National Bureau of Statistics (NBS), on February 9, 2024, had said Nigeria’s unemployment rate rose in the third quarter (Q3) of 2023 to 5.0 percent.

This represents an increase of 0.8 percent compared to the 4.2 percent recorded in the second quarter of last year.

According to the bureau, youth unemployment increased to 8.6 percent in Q3 of 2023 — from 7.2 percent in Q2 last year.

NBS said youth is classified as anyone between the ages of 15 to 24 years old.