FG Moves To Carve Out Five Companies From NIPOST
Image: Guardian NG

Communications Minister Adebayo Shittu has said five companies would be carved out of the Nigerian Postal Service (NIPOST).

Shittu said this on Monday where he noted that move was meant to ensure the profitability of postal services in the country.

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According to him, some of the new companies are in the insurance, banking, e-commerce and transport and logistics industry.

“The icing on the cake will be the reforms that we are bringing to NIPOST,” the minister told Punch.

“By the grace of God, in the next few months, five new companies will emerge from NIPOST. One will be the NIPOST Banking and Insurance Company; we have the NIPOST Transport and Logistics Company; we have the NIPOST Property and Development Company. We also have NIPOST e-Commerce Services Company, and we have the NIPOST e-Government Services Company.

“We have the steering committee of which I am the chairman. The National Council on Privatisation is expected to give approval for the appointment of a transaction adviser, who will put all the structures in place.”

In addition, he said “These initiatives will create more jobs for Nigerians. It will provide more services to Nigerians, particularly those who live in rural areas.

“It will also open new floodgates of revenue streams for the government.

“We have also secured funding for Galaxy Backbone Phase Two to provide interconnectivity to all Federal Government offices, agencies and institutions everywhere in Nigeria. Everywhere will be connected to one portal in order to aid our e-Government initiative.”