Experts have urged outsourcing firms operating in the country to focus on the aviation, education, and telecommunication sectors to grow and scale their businesses in 2020.
The experts who spoke at the Association of Outsourcing Professionals of Nigeria (AOPN) interface event held in Lagos recently say that operators of outsourcing firms need to pay more attention to sectors that records growth irrespective of the performance of the Nigerian economy.
“Sectors such as aviation transportation, education telecommunication will continue to grow no matter the performance of the general economy,” said John Chukwu, chief executive officer, Cowry Asset Management Limited during a presentation on the economic outlook for 2020.
“The service sector is the largest in the Nigerian economy and it accounts for more than 58percent of the GDP,” Chukwu said.
He stated that the Nigerian economy is largely diversified, adding that the missing link is Nigeria’s inability to earn foreign exchange through the service sector.
He added that if the country is able to advance its service sector to compete in a level that can be matched anywhere in the world, then Nigeria will be able to create new jobs.
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Speaking also during the AOPN event, Taiwo Ajibola, managing director, MDS Logistics called on outsourcing firms to seek collaborative planning and shared value in delivering services, noting that relationships are always a win-win situation.
Ajibola also urged them to look at the upper production chain and understand where the value is and how to harness it.
He stated that the government has started well by setting up policies but that such policies need to be followed with actions and enforcement of standards as well as regulations.
“By the time the government does this; they create a level playing field for foreign companies to see that Nigeria is a place where they can outsource their processes too,” Ajibola said.
“The government also needs to provide the right environment for outsourcing businesses to thrive,” he added.
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Madu Obiora, president of AOPN said the event was organised to as part of the organisation’s annual program that brings services providers, buyers, and HR agencies together to deliberate on issues and outlook for the coming year.
“We are trying to build the interface between the private sector and public in the outsourcing industry and also give an outlook for the New Year, looking at economic realities,” Obiora said.
“The industry is a baby that is growing and is not likely to stop growing but can it grow at the rate it is supposed to grow?” he asked.
“When you look at the numbers it is not likely to grow at a global level but with individual organisations, lots of progress can be made,” he added.
He stated that within the first quarter of 2020, the outsourcing industry will have a policy that will proceed into a bill.
