The Federal Government has approved a partial sale of the Nigerian Postal Service ( NIPOST ), according to the words of the Minister of Communications, Adebayo Shittu, on Thursday.
The minister said this in Abuja while inaugurating the steering committee and the project delivery team for the postal sector reforms and restructuring of/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’’ commercialized.
His words: “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.”
“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.”