Business
BPO To Boost Industrial CompetitivenessIn Nigeria
Business Process Outsourcing Academy will soon make its debut in Nigeria, in a move described as another effort at boosting the country’s industrial competitiveness.
The Head of the global operations of the BPO Certification Institute, Mr Sanjeeva Shukia, arrived Nigeria on Thursday as part of activities targeted at ensuring a smooth take-off of the academy.
The Nigeria BPO Academy is an initiative of Multimix Academy of Outsourcing Practitioners of Nigeria.
Justifying Nigeria’s need for the capacity building organisation, the Chief Executive Officer, BPO Academy, Mr Obiora Madu, said business processes outsourcing had become a key source of competitive advantage.
According to him, the increasing global competitiveness as a result of several business innovations has resulted in the transfer of some core and non-core business to outside service providers by many multi-national and international organisations.
He stressed that the development had impacted positively on the performance of such companies, noting that Nigeria must also benefit from the initiative.
Madu said that apart from helping Nigeria’s economy to grow and be in tune with international business ethics, the establishment of BPO would drive efficiencies in business, in terms of organisational excellence, responsiveness, branding, efficiency and customer relationship.
“For instance, in BPO, the outside provider does not only take on the responsibility to manage the function or business process, but also re-engineers the way the process has been done traditionally”, he said.
“India and China have dominated this industry, but as the cost of outsourcing gets higher in these countries, companies are looking for other possible destinations”.
The BPO boss said Nigeria had all it took to evolve a verile and competitive BPO outlet because of the availability of cheap labour, skilled manpower, huge market for western products and cultural affiliation with the western world.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.