FG gives NIPOST N1trn revenue target

The Federal Gov­ernment through the Minister of Communications, Ade­bayo Shittu, has charged the new Chief Execu­tive Officer (CEO)/Post Master General of the Nigeria Postal Service (NIPOST), Mr Bisi Adegbuyi, to raise the revenue base of the agency to one trillion naira annually. The min­ister gave the charge in Abuja over the weekend.
He urged Adebuyi to think out of the box with radical ideas and team work to attain a rapid turn-around and an ef­ficient NIPOST.
“The full implementa­tion of the Stamp Duties Act is overdue. Records indicate that NIPOST earned N4.87 billion in 2013 with a little scratch of the stamp duties rates.
“I am confident that with efficient manage­ment of this revenue source, we can add over a trillion naira to govern­ment’s purse in a year”, Shittu said.
While tasking Adebuyi on the challenges ahead of him, he stressed on the need to meet up with the reform promises made to Nigerians.
Enumerating some of the challenges faced by NIPOST to include in­efficient management structure, low level of in­vestment, intense com­petition from alternative courier service provid­ers, amongst others, the minister stressed that the ministry will collaborate with NIPOST to ensure its new postal sector re­form policy succeeds.
Speaking earlier, Ade­gbuyi gave the assurance of bringing to limelight the confidence reposed in him to reposition the agency.