BPE August 5, 2021

NIGERIA POSTAL SERVICES (NIPOST)

BACKGROUND

The postal sector is a critical part of every country’s information and communication infrastructure and its role is crucial in the  economy if driven by information and communication technologies. Declining mail volumes and increasing competition from private sector operators have rendered core postal services financially unviable and unsustainable. This has, world-wide, inevitably led to the inclusion of postal financial services in the reform of the postal sector world-wide to increase the viability of the sector.

Postal agencies in most countries have become very active change agents by engaging in the provision of basic financial services particularly to the unbanked rural areas of their countries using their vast postal networks, taking advantage of the associated low operational cost to achieve geographical and financial spread.

The reform in the postal sector became imperative when public confidence in the country’s postal system was eroded due to the inability of the public postal Shareholding Structure .

The Nigerian Postal Service (NIPOST) is a 100% Federal Government of Nigeria-owned parastatal in the Ministry of Communications & Digital Economy.

CURRENT STATUS

The Nigeria Postal Services Bill was passed by the Senate on Thursday, 19^th July, 2018 and was awaiting Presidential Assent by President Muhammad Buhari before the inauguration of the 9th Assembly.

FUTURE PROSPECTS

• NIPOST would establish three non-postal limited liability companies to be registered at the Corporate Affairs Commission (CAC) namely:
• NIPOST Properties & Development Company Limited;
• NIPOST Transport & Logistics Services Limited; and
• NIPOST Microfinance bank.

PRODUCT OR SERVICES

The mandate of NIPOST is essentially in the business of:

• providing postal and allied services to individuals and corporate bodies within and outside the country;
• Facilitating and maintaining both business and social contact and transactions;
• performing all the incidental services of receiving, collecting, sending, dispatching and delivering, written and printed matter, parcels and like materials, from one place to another across the World;

Representing Nigeria in international organizations, affiliates and conferences which include the Universal Postal Union (UPU), the Pan African Postal Union (PAPU), The West African Postal Conference (WAMCO) e.t.c