Nigeria Postal Service to Unbundle into Five Companies

By May 28, 2018 Investment News

Nigeria Postal Service (NIPOST) will soon be unbundled into five companies, Minister of Communications, Barrister Adebayo Shittu has disclosed.

Speaking at the 4th series of the INDO-AFRICA ICT EXPO 2018 on Digital Transformation in Lagos, Shittu explained the plan is to transform NIPOST from transmission of letters and postal materials to a profitable venture.

The postal agency, he revealed, will give birth to NIPOST Banking and Insurance Company, NIPOST Property and development Company, NIPOST Transport Company, NIPOST e-Commerce Services and NIPOST e-Government Services Company.

“These five new companies are platforms within which investors can make enquiries, come in and invest; the opportunities within these five companies will be limitless, “Shittu stated.

The Minister called on the private sector, particularly those whose businesses are driven by Information and Communications Technology (ICT) to take full opportunity of the Indo-Africa ICT Expo.

According to him: “It is not enough for Nigerian businesses to be mere marketers of ICT products and services.

“They must rather collaborate with the right group to establish ICT platforms and factories that will promote skills training and employment opportunities in the country.

“Foreign ICT companies that want to do business in Nigeria must be prepared to establish ICT factories in Nigeria.”

Source: The Nation