FG signs contract on NIPOST reformation

In a bid to kick-start the activities and the process of reforming, restructuring and modernization of the Nigerian Postal Service (NIPOST), the federal government has signed a contract agreement between the Bureau of Public Enterprises and the Transaction Adviser.

Addressing stakeholders at the venue of the contract-signing ceremony in Abuja on Monday, the Minister of Communications, Dr. Adebayo Shittu said, the event concludes the process of engagement of the transaction Adviser that will work with the steering committee and other stakeholders as well as kick-starts the activities and the process of transforming NIPOST.

Shittu maintained that it is the desire of the current administration to transform the postal sector into the most efficient and viable sectors in the Nigerian economy and one of the best in the world.

According to him, “the Postal Sector Reforms, Restructuring and Modernization of NIPOST is a collaborative project of the Federal Ministry of Communications, the Bureau of Public Enterprises and the NIPOST, which commenced with the inauguration of a steering committee and Project Delivery Team (PDT),” he said.

Adebayo further explained that the engagement of a Transaction Adviser to assist the relevant stakeholders in executing the assignment was approved by Vice President Yemi Osinbajo who is the Chairman of the National Council on Privatization (NCP).

Shittu therefore urged the Transaction Adviser to demonstrate competence, commitment and efficiency in executing the task within 3 months earlier than the 6 months deadline slated by the NCP, describing the project as very important.
He assures that the steering committee and all other stakeholders involved in the project are committed to working with KPMG to ensure the project is delivered as schedule.

In his address, Director-General of the Bureau of Public Enterprise (BPE), Alex Okoh, reiterated that the contract signing was a significant milestone towards the implementation of the Postal Sector Reform.

“The success of the Postal Sector Reform lies on the Transaction Adviser since the National Council on Privatization (NCP) has approved six-month timeline for the execution of the project,” Therefore, prompt delivery of the project, commitment and zeal should be implored to ensure that the reform will bring about the best of NIPOST that will be regarded as the best integrated postal service providers in the world.

The objectives of the transaction includes: preparing NIPOST for corporatization by providing advice and support for the short term restructuring of the enterprise. To ensure provision of the requisite advice and support required for the Federal Government of Nigeria to implement the restructuring and modernization of NIPOST in a manner that is consistent with relevant national policies; laws and international best practices. And to provide advice in core-operational areas so that the NIPOST can be effectively run in the post restructuring and modernization era, thus making it commercially viable and attractive to customers; while still discharging the social services expected of a government agency.

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