“The political environment is beseeched with so much instability.” Nigeria
With its population and endowed natural resources, Nigeria should ordinarily be an attractive hub for outsourcing.
Statistics show that the global market size of outsourced services in 2018 was valued $85.6 billion. Revenue from global Information Technology Outsourcing industry in 2018 was $62 billion, while revenue from global Business Process Outsourcing industry was $23.6 billion. At the gathering of outsourcing professionals recently at the 2019 Outsourcing Expo, experts argued that based on certain factors such as financial attractiveness, skills, and availability, and business environment scores could vividly bring Nigeria on the front burner as the next outsourcing hub.Globally, India, China, Malaysia, and Indonesia are among the countries leading the outsourcing business while in Africa, Egypt, Mauritius, Morocco, and Kenya top the list.
“The political environment is beseeched with so much instability. Our economic environment is beseeched with so much policy flip-flop while the social environment is beseeched with high level of unemployment with exclusive governance; people are left on the fences and are now repelled against the system, which has proliferated as insecurity around the country. These things distract and prevent Nigeria from being the preferred destination for investment.
On the business and legal structure in outsourcing, the Managing Partner, Hybrid Solicitors, Bimbo Atilola, disputed that outsourcing promotes casualisation and discourages career growth as argued by some labour leaders.
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