The federation terminated Keshi's contract having found out that the former Togo handler applied Ivory Coast job.
Jo, led Nigeria’s U-23 team to gold at the 1996 Olympics, said only a foreign manager can elevate the Eagles.
"I think the NFF need to hire a foreign coach to take charge of the Super Eagles,” he told Completesportsnigeria.com.
"The Super Eagles have failed to make much impact since they won the African Cup of Nations in 2013 and it has to do with the inability of the coaches to take the team to new heights.
"Personally, I don’t think Stephen Keshi has what it takes to take the team beyond where they are now.
"So the decision made by the NFF to sack him was the right one.
"The next task before them now is to carefully look for a capable foreign coach that can help improve the performance of the team."
Lars Lagerback is the last foreign coach to lead Nigeria. He was in charge of the Eagles at the 2010 World Cup.