Minister of Communications, Adebayo Shittu, through his Special Assistant on Media, Victor Oluwadamilare has debunked the plans by the Federal Government to privatise the Nigeria Postal Service, or lease it to foreigners.

Shittu said, “In putting the records straight, the government of the day has no plan whatsoever to either privatise NIPOST or hand it over to foreigners to manage. This can only happen in the imagination of those who concocted and orchestrated the rumour to achieve only their inordinate mischief.

“Our vision for the new NIPOST is a total transformation from being a mono-product service organisation to a one-stop multi-product service provider, with the ultimate aim of making it a cash-spinning establishment that can make meaningful contribution to the country’s revenue base.

“Such transformation will, no doubt, entail diversification of services, which will include rendering robust and all-inclusive financial services, utilising post offices across the country for rural telephony services, commercialising NIPOST’s fleet of vehicles, running a Public-Private Partnership and expansion of the stamp duties processes, among others.”

The Federal Government had last year revealed through the acting Head of the Civil Service of the Federation, Winifred Oyo-Ita that there were plans to privatise the Nigeria Postal service (NIPOST). Also stating that the plan was for the Nigerian Postal Services to possibly enter into public private partnership in areas such as courier services, money transfer, E-commerce and modernizing postal services.

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The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.