December 2, 2024
The Nigeria Postal Servce, NIPOST achieved a boost in its revenue in 2024 by blocking loopholes and improving its service quality, which led to an increase in patronage of its services
The Postmaster General of NIPOST, Ms. Tola Odeyemi, said this when she highlighted NIPOST’s achievements for 2024, noting that the revenue increase was a major achievement for the Service.
Odeyemi, has said that the service implemented several reforms that led to a 275% increase in revenue in 2024
“One of the major achievements for us in 2024 has been a 275% increase in revenue from 2023.
“We achieved this by plugging a lot of the revenue leakages that we have by deploying PoS Terminal for payment in our high transaction areas, as well as ensuring that our quality of service goes up,” she said.
Odetola had earlier in the year declared that NIPOST’s target for 2024 was to generate N10 billion in revenue.
Though the Post Master General did not disclose the actual figure of the generated revenue at the end of the year, the 275% increase meant a significant growth for the Service, which had been on a consistent decline in the past years.
The most resent available data for NIPOST revenue was that of 2022.
According to the data released by the National Bureau of Statistics, NBS, NIPOST’s revenue declined by 17% from N3.6 billion in 2021 to N3 billion in 2022.
With a view to sustain its revenue growth, Odetola said NIPOST had started by renovating and upgrading some of its locations in Abuja, Lagos, and Kaduna which is key to the change the management want to see in NIPOS over the coming years.
“So what are some of the things that you should be expecting from the Nigerian Postal Service in 2025?
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“We will be rolling out our national addressing system and digital postcode., specialized logistics, such as agri-logistics and healthcare logistics, and a relaunch of our financial services.
“There will be infrastructure upgrades, which will take place across the Federation and there will be an increase in access to government services through your local NIPOS location,” she said.
NIPOST is one of the agencies under the Ministry of Communications, Innovation and Digital Economy and was dissatisfied with the current state of it Service and its laxity in playing expected roles in the digital economy space.
The Communications Minister, Dr. Bosun Tijani, on assumption of office in 2023, asked Nigerians to suggest how the company can be repositioned and serving as the open backbone infrastructure for licensed courier companies to power logistics for commerce and trade across the country.
