NIPOST targets N10 billion revenue in 2024, vows to end missing mail 

The Nigeria Postal Service (NIPOST) has said part of its goals for this year is to generate N10 billion in revenue for the government even as it promised to address concerns about missing mail.

...master General of NIPOST, Ms. Tola Odeyemi, stated this on Monday as she unveiled an ambitious vision for the future of postal services in Nigeria, emphasizing the need for alignment with national objectives and enhanced service delivery.

While the Service has over the years generated little or no revenue for the government despite annual budget allocations, the N10 billion target, if met, will be NIPOST’s highest earning in a year.

A look at the 2024 budget shows that NIPOST got an N18.4 billion allocation from the government, all for recurrent expenditure.

Missing mails 

Reacting to concerns about missing mail, which is one of the reasons many Nigerians are skeptical about using NIPOST, Odeyemi said NIPOST plans to upgrade its technology infrastructure, including the introduction of an end-to-end tracking system to reduce human errors and build public trust.

“Yes, we are aware of the complaints about missing mail. We are going to upgrade our technology with an end-to-end tracking system. This enables us to know where things go wrong because this is a human system, so you experience some errors. But we will address the errors through improved technology,” she assured.

• She emphasized the current leadership’s commitment to transforming NIPOST into an entity that adds value to government activities and positively impacts the lives of ordinary Nigerians.

• Odeyemi stressed the importance of ensuring that NIPOST’s day-to-day activities align with the broader vision and mission of the current leadership.

 “We want to explore opportunities for efficiency and energize the NIPOST base across all the 774 local government areas. It has become necessary that we must deliver the minimum level of service that is expected from NIPOST,” she stated. 

• ...master General highlighted the recent signing of a Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) as one of the key initiatives to drive NIPOST’s growth.

• According to her, the partnership aims to reduce the cost of moving goods and services through NIPOST by 15% for the 22 million businesses registered with SMEDAN, a move expected to boost the economy and enhance productivity across various sectors.

What you should know 

NIPOST is one of the agencies under the Ministry of Communications, Innovation and Digital Economy.

Apparently dissatisfied with the current state of Service and its laxity in playing expected roles in the digital economy space, the Communications Minister, Dr. Bosun Tijani, last year asked Nigerians to suggest how the company can be repositioned.

• According to some of the suggestions, an ideal NIPOST would be one that operates like the Nigeria Inter-Bank Settlement System (NIBSS) in the logistics industry, serving as the open backbone infrastructure for licensed courier companies to power logistics for commerce and trade across the country.

• It was also suggested that NIPOST would need to actively support and integrate with e-commerce platforms to enhance online shopping experiences.

• This involves efficient last-mile delivery, returns management, and secure payment gateways.