Business News

FG launches NATEP to tap into $620 billion talent-sourcing industry

The Federal Government has launched the National Talent Export Programme (NATEP), an initiative targeted at creating a pool of talent that will make the country a force in the global talent-sourcing industry valued at $620 billion.

The Minister of Industry, Trade, and Investment, Dr Doris Uzoka-Anite, presided over the official launch of the initiative as part of the sideline activities of the 78th session of the United Nations General Assembly (UNGA).

The initiative, which is backed by Microsoft, is part of the government’s agenda of creating 1 million jobs through technical skills training.

The minister explained that the four-pronged objectives of the NATEP initiative are to deliver one million service export jobs over the next five years; to increase foreign exchange earnings and revenue for Nigeria; to create economic growth and stimulate the growth of ancillary industries and support services; and to improve skills and strengthen the Nigerian brand.

Describing the initiative as a special-purpose vehicle to position Nigeria as a leading global hub for service exports, talent sourcing, and talent exports, the Minister said:

While observing that the global talent-sourcing industry was valued at $620 billion in 2020 and is projected to be valued at $904 billion by 2027, Anite stated that with a youthful population and over 1.7 million graduates from higher educational institutions joining the workforce each year, Nigeria has the potential to provide high-quality talents for the global service export and outsourcing industry.

The Minister added that NATEP will focus on nurturing the Nigerian service outsourcing industry’s large pool of talented and skilled professionals to ensure that clients have access to a skilled and adaptable workforce that can meet their diverse business needs.

Also speaking during the launch, the Minister of Communication, Innovation, and Digital Economy, Dr Bosun Tijani, described the initiative as extremely timely.

Meanwhile, the Managing Director of the World Economic Forum (WEF), Saadia Zahidu, at the event expressed the hope that the forum will be able to provide support to NATEP through the continuous rescaling and upskilling of the workforce that will be a part of this initiative.