ByÂ Nume Ekeghe
Experts have stressed the need for firms to embrace outsourcing as a cost-saving measure.
They pointed out that from the banking,Â oil and gas, manufacturing toÂ informationÂ technology and telecomsÂ sectors, the experts pointed out thatÂ companies are increasinglyÂ adoptingoutsourcingÂ in theirÂ businesses.
The expertsÂ made these remarks at theÂ 2018Â outsourcingÂ expo which took place in LagosÂ recently.
TheÂ Managing Director,Â Karios Business Services Limited,Babatunde Fajimi,Â predicted thatÂ outsourcingÂ business would continue to grow.
According to him, a recent survey revealed that the sub-sector hadÂ assumed a critical place in assisting corporate Nigeria.
â€œOutsourcing has been proven by scholars to transformative and also an investment that anticipate financial return. It is a voyage that transcends profit and once trust is broken, it will be difficult for both the user and provider to move smoothly,â€Â he said.
Also, the Executive Chairman, GMC Logistics Limited, Mr. Sonny Allison, said outsourcing hasÂ a lot of benefits,Â just as he identified job creation as one of such benefits.
According to him,Â there wasÂ theÂ general notion about outsourcing increasing unemployment and workplace stress, which he described as false.
HeÂ argued thatÂ outsourcing helpsÂ inÂ increasingÂ workplace efficiency andÂ jobÂ creation.
On his part,Â Senator Gbolahan Dada, Â representing Ogun West Senatorial District, highlighted the need to cut cost and increase revenue in order to grow the economy.Â This, he said, could be achieved through outsourcing.
He said wealth creationÂ wouldÂ be possible through the development of policies toÂ support outsourcing.
He said:Â â€œNigeria has a large population made up of brilliant minds and talents that could be used for the nationâ€™s advantage. Unfortunately, most of them have left the country in search of greener pastures.â€
Access Bank Harps on Improved Awareness on Green Bond
Access BankÂ Plc has urged the federal government to increase awareness on green bond, sayingÂ Nigeria hasÂ theÂ potentialÂ to dominate theÂ market.
Speaking at aÂ forumÂ on Nigeriaâ€™sÂ GreenÂ Bond Market Development programmeÂ that was hosted by the bank in Lagos,Access Bankâ€™sÂ Executive Director, Risk Management,Â Mr.Â Greg Jobome, stressed the need forÂ more NigeriansÂ to be carried along inÂ the green bond market.
According to him it would be very helpful “if we involve the man on the street and they understand what the green bond is about, but if the government keeps it for experts, treasurers, dealers, analyst, they will miss it.
â€œWe have to make it all encompassingÂ because it is about sustainable development goals. It is aboutÂ our children and the kind of world they will live in.
“The little steps we are taking now will hopefully lay the foundation blocks for our world.”
Furthermore,Â Jobome noted that withÂ Green Bond occupyingÂ only 0.2 perÂ cent of the global bond market, â€œwe are not so far behind and we have the opportunity than the restÂ of the world.â€
He added: â€œThe potential is bigger for Nigeria and Africa, so if we do it right, we will actually dominate the statistics.”
According to him,Â there are huge projects that wouldÂ directly impact the masses that the government can undertake with the proceeds of aÂ GreenÂ BondÂ offering.
â€œThere are a lot of things that t we can do now that rest of the world, particularly the developed countriesÂ cannot do.
“If you build a mass transit in the United Kingdom, the impact will not be up to one percent of the impact of the same infrastructure in Lagos.”
Continuing, heÂ said: â€œAnyone can buy the green bond and we need to get everyone to make that choice of sustainable investment because the interest is almost the same with the regular bonds.”
Speaking on the role of standards and benchmarks for the Nigerian Green bond Market, Country Treasurer, Access Bank, Sunmbo Olatunji, said thereÂ was need toÂ make the market for Green BondÂ liquid.