NIPOST set to use property investment to generate money

The federal government will leverage on the massive infrastructure of the Nigerian Postal Service (NIPOST) spread across the country to diversify revenue streams of the Service to generating revenue into government coffers.

The Minister of Communications, Adebayo Shittu made this known at a one-day stakeholders’ conference organised by NIPOST held in Lagos on Friday.

The Minister said the NIPOST will delve into banking, property and development, transport and logistics, and that in a matter of 2 years, Nigerian Postal Service would be the leading federal government agency in terms of direct impact of the lives of Nigerians.

“NIPOST has many landed properties scattered across the country and they are going to be used for properties investments to bring a lot of money into the coffers of Nigerian Postal Service. We shall establish a Nigerian Postal Service property and development company.

“We are also establishing the NIPOST transport and logistics company and NIPOST e-government services company, which will carter to e-governance, particularly with the application and delivery of driving licences, vehicle documents and international passports,” he said.

Shittu noted that infrastructures such as good roads, postal addressing, ICT infrastructure are critical to e-commerce development.

“There is no gainsaying that the current situation in most developing countries remained poor. Most of our streets are unnamed and the houses remained unnumbered,” he said.

He, however, expressed optimism given strides by government through the Nigerian Postal Service in accelerating the development of digital addressing.

Shittu said the digital addressing effort by the FG is currently receiving worldwide acclaim.

Credit: TNG