NIPOST Expected To Generate N1trillion Annually – Minister


The Nigerian Postal Service, NIPOST is expected to step up the country’s economy and become a high profile Federal Government revenue source by generating a whooping sum of N1 trillion every year.

Barr. Adebayo Shittu, who is the Minister of Communications Technology, says this at the introduction of NIPOST stamp duty in Abuja. According to him, the current reform going on in NIPOST would enable it re-take the lost market and gain more ground in the courier and mail businesses.

Recall: FG’s Master Plan For Nigerian Postal Service, A Massive Revolution, See Details

In his statement, Mr. Shittu said,

“I am confident that with efficient management of this revenue source, we can add over a trillion naira to government purse every year.

“The full implementation of Stamp Duty is overdue. Records show that NIPOST earned more than N4.87 billion in 2013 with a little scratch of the Stamp Duties rates.

“This is the time to reverse the status of Nipost. The geographical spread of NIPOST places it at a vantage position to lead in providing financial inclusion service to the active poor.”

The Minister also expressed discontentment that NIPOST is placed on the Consolidated Public Service Salary Structure; where the work forces are not accrue to allowance as  applicable to similar revenue generating agencies such as Nigeria Custom Service and Federal Inland Revenue Service.

Shittu affirmed the desire for Nigerians toward the services of NIPOST, urging the new management to collaborate with private investors that possess the competencies and technology to make the dream possible.

Speaking further, “The ministry look forward to working with you as partners in progress. With the new PMG, managing the day-to-day affairs of the postal services sector, I believe we are ready to kick-start a new revolution in NIPOST with a clear policy direction already defined by the ministry,” he said.

On the implementation of the national Addressing Policy, Shittu promised to to bring some sanity into the numbering system to all kinds of buildings, especially in urban and semi urban settlements, as a means to ensure that mails are delivered faster and cheaper.

He was optimistic that a credible national Addressing Policy will aid planning and internal security, and that the agency posses the potential to contribute substantially not just to revenue generation but the revival of the economy.