Foxconn Technology – the Taipei-based Taiwan company that assembles iPhone, IPad and many other electronic gadgets which are sold all over the world is investing $12 billion in Brazil. It has the potential to create 100,000 jobs, according to Brazilian officials. Brazil will offer tax incentives to electronics products makers in an effort to attract high-tech manufacturing into the nation.
As President Jonathan relishes in his re-election, this is the opportunity to get Nigeria ready so that such companies can invest in the nation and provide opportunities for our citizens. Instead of attracting many companies that come to sell and run sales offices in Nigeria, the likes of Foxconn that will actually build factories is what we should be targeting.
But for this to happen, many things must happen. Nigeria must revamp its education, develop strong intellectual property rights, and provide necessary infrastructure. Until we have all these challenges fixed, opportunities like Foxconn will not be discussed in our terrain.
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As wage rises in China and Asia, Nigeria with its population is well positioned to take advantage of these developments if it can position itself very. Just as KenCall Kenya has offered a lower cost alternative to European and North American call centers, the future of outsourcing could indeed be in Africa, because our wages are still comparatively low. There are many factories in Shenzhen in China that will examine the opportunity in Nigeria if we get the system ready, to invest. And Jonathan must do that.