NIPOST Aims for N10 Billion Revenue Target in 2024

NIPOST outlines its strategy to achieve N10 billion in revenues by 2024, aiming to boost its financial performance.

On Monday, September 2nd, Mrs. Tola Odeyemi – the Postmaster General of the Federation and CEO of NIPOST (Nigerian Postal Service) stated that their goal for this year is to generate government revenue amounting to N10 billion.

Mrs. Odeyemi states that NIPOST’s current leadership is actively working towards transforming the image of the organization, with a primary objective to improve government initiatives and positively influence the lives of everyday Nigerians.

According to Odeyemi, NIPOST has partnered with SMEDAN by signing a Memorandum of Understanding (MoU) to slash the expenses associated with transporting products/services for 22 million SMES registered under their organization. This agreement will decrease costs by 15 percent and ultimately lead to increased economic growth and enhanced productivity in all facets of the national economy.

At the commencement of a three-day Strategic Management Retreat for NIPOST’s management team, directors, and postal managers from all 36 states and FCT, she delivered her comments.

DRACC Aco Estate, Lugbe in Abuja was the venue for the retreat.

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“Empower, Innovate, Shape: Nigerian Post optimized for Excellence” was the theme of the Retreat as stated by her.

She observed that it aimed to ensure coherence between our daily tasks and the vision and mission of the current leadership.

“Our aim is to seek out avenues for enhancing efficiency and invigorating the NIPOST foundation throughout all 774 local government areas. It’s imperative that we provide at least the standard level of service anticipated from NIPOST,” she stated.

According to Mrs Odeyemi, NIPOST will enhance its technology infrastructure in order to advance its mail delivery services and foster trust among the public. She explained that reports of undelivered mail received by management are often caused by human mistakes.

Odeyemi stated that they have acknowledged the issue regarding missing mail and plan to enhance their technology by implementing an end-to-end tracking system. This new system will provide insight into where errors occur as it is currently a human-operated process prone to mistakes. Nevertheless, through increased technological advancements, they aim to rectify these issues.

The head of NIPOST disclosed that the organization is making considerable progress towards reintroducing its e-commerce, financial offerings, NIN registration and enrollment services through all its facilities across Nigeria’s 774 local governments.

According to Odeyemi, NIPOST is currently operating with limited resources despite the amount of work being done. To tackle this issue, a key change she hopes to implement involves boosting revenue through last-man delivery services for certain government-related tasks and NIN registration. This service will be offered at all locations under NIPOST’s jurisdiction.

Our financial services are being relaunched, providing the convenience of conducting basic banking activities such as bill and utility payments, cash withdrawal or deposit at any NIPOST branch.

As part of our efforts to benefit Nigeria, we aim to expand our involvement in e-commerce logistics and haulage services across all of our locations.

As a part of the Renewed Hope Agenda, we have collaborated with SMEDAN to ensure effective functioning of NANO, Micro Small and Medium Enterprises (MSMEs) across Nigeria. Their primary objective is to enforce this mandate skillfully.

Participating in the economic diversification involves engaging in the transportation of goods, a crucial aspect of this industry that enables efficient delivery from production to customers.

The goal is to help individuals transport merchandise with lower expenses. Recently, we entered into a Memorandum of Understanding (MoU) with SMEDAN. Those who register their over 22 million businesses will receive a discount of 15% on prices from us.

Our goal is to serve as the facilitating platform for enhancing trade and commerce in the nation.

In addition, our range of agro logistics offerings will cater to agrarian states abundant with agricultural produce. Our objective is twofold: support farmers in delivering their yields either directly to the market or through an aggregator while ensuring availability from farm-to-table or farm-to-business.