Unbundling NIPOST ‘ll make it more viable – BPE

of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has said that ongoing reform of the Nigerian Postal (NIPOST) is to make it a more viable company.

OKoh, who made the clarification on Wednesday in Abuja at the of the sub- of the implementation for the postal sector reform, restructuring & modernisation of NIPOST said that unbundling of NIPOST will enable it operate on the principle of commercial viability, while the core postal function will remain with its parent company.

The three commercial ventures expected to emerge from its unbundling are: NIPOST Properties & Company; NIPOST Transport & Logistics Company and NIPOST Microfinance bank Limited.

The said the clarification became necessary to disabuse the minds of many Nigerians especially the workforce of NIPOST that the commercialization, reform and modernization of the was out right privatisation.

Okoh explained that in line with the reform process, the Bureau had completed the of three NIPOST subsidiaries while the process for at CAC and also that of obtaining regulatory approvals from the Central Bank of (CBN) for NIPOST Microfinance bank had also commenced.

The reiterated that the benefits of the reform of the sector include, the Provision of efficient postal services and utilisation of vast assets of NIPOST across the country; reduction in funding from the treasury in terms of subventions to NIPOST (c. N7.2 billion) and the and growth of ancillary services and business to enhance the overall efficiency of NIPOST to create more jobs.

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