FG approves partial sale of NIPOST

Adebayo Shittu, minister of communications, says the federal government has approved a partial sale of the Nigerian Postal Service (NIPOST). 

The minister made this known on Thursday while inaugurating the steering committee and the project delivery team for the postal sector reforms and restructuring/modernization of NIPOST.

He said the National Council of Privatisation under the chairmanship of Vice-President Yemi Osinbajo had set up a steering committee to ensure NIPOST was “partially” commercialised.

“Government has approved that NIPOST is partially commercialized in keeping faith with the Second Scheduled Part 1, Section 6(1) of the Public Enterprises (Privatisation and Commercialisation ) Act, 1991,” he said.

“In that regard, the government wishes to separate what hitherto had been the dual function of NIPOST as regulator and operator.

“When passed into law, NIPOST will concentrate on its function as an operator in Nigeria’s postal system; hence the need for reforms so that it can make its pitch for a share of the now deregulated postal market.”

Shittu said NIPOST will be expected to operate as a commercial entity with a strong corporate brand after the committee finishes its work in April.

“This committee is expected to take postal services in Nigeria to a new height in the face of the global challenge posed by new technology to postal services.”

The steering committee is headed by the minister while the project delivery team will be headed by Aliyu Maigari of the Bureau of Public Enterprises (BPE).

This is not the government’s first attempt at restructuring agencies to corporate brand.

At present, discussions are ongoing about planned concession of the four major airports to private entities.