FG creates 3 companies from NIPOST

The federal government has created three commercial ventures from the Nigerian Postal Service (NIPOST) just as it plans to establish the National Postal Commission (NPC) to regulate the courier industry, including NIPOST.

Recall that the National Council on Privatisation (NCP), in 2017, approved the reform and the restructuring of NIPOST.

The Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, in Abuja yesterday, said the three new subsidiaries are NIPOST Properties & Development Company; NIPOST Transport & Logistics Company, and the NIPOST Microfinance.

Okoh said BPE had completed the registration of the first two companies at the Corporate Affairs Commission (CAC).

He also said registration at CAC has started for the NIPOST MFB while working to obtain regulatory approvals from the Central Bank of Nigeria (CBN).

He said the on-going reform of the NIPOST would not attract job losses or retrenchment, but would rather create more jobs in the new subsidiaries that will emerge after the reform.

Okoh said NIPOST, after the reform, would still remain a 100 percent entity of the federal government as the reform only aims at commercialising its services.

President of the National Union of Postal and Telecommunications Employees (NUPTE), Rev. Nehemiah Buba, who paid a visit to BPE, expressed delight over the visit as some of the reform issues not known to the workers have been clarified by the Bureau.