Business Hilights
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FG to unbundle NIPOST to 5 firms from ongoing commercialisation scheme—Shittu

The Minister of Communications, Barr Adebayo Shittu has once again, restated the resolve of returning the hitherto moribund Nigerian Postal Service (NIPOST) to relevance with ongoing modernisation and commercialization programme.

He said the diversification drive for NIPOST is borne out of government’s desire to make good use of the multibillion naira infrastructure owned by the agency which is now a victim of technology disruption.

In an interview in Abuja, Shittu averred that “In NIPOST, we are embarking on rapid modernisation and commercialisation. We will have a NIPOST banking and insurance company, a property and development company, transport and logistics company, an e-commerce service company, and e-government services company”.

Business Hilights recalls that earlier last month, the management of the National Council on Privatisation (NCP) chaired by Vice President Yemi Osinbajo approved the appointment of a transaction adviser for the commercialisation of the Nigeria Postal Services.

Before now, the Minister had assured Nigerians that he is working on a strategic drive to convert the ailing agency to a government digital banking services provider considering the reach of the outlets across the nation.

Some analysts had said that serving as a bank would grow the nation’s quest to financial inclusion as the bank would have served as the only bank with the highest number of branches in the country.

Trouble of service delivery for NIPOST started since the advent of GSM revolution which pushed up use of sms and even phone calls to relegate letter writing to the lowest traffic ever.

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