Afrigather 
Omotola Odeyemi, Put up Grasp of the Nigerian Postal Service (NIPOST) was scrutinised by the Nigerian Senate on Tuesday over its poor income era.
The Senate threatened that if the company continues to function at a loss, it is going to privatize it totally. Sani Musa, Chairman of the Joint Committee on Finance, gave this warning through the 2024-2026 Medium-Time period Expenditure Framework public listening to on the Nationwide Meeting.
He expressed his dissatisfaction with the company’s lack of performance and abysmal income era, particularly from stamp duties.
In response, the committee has directed the Put up-Grasp Basic of the Federation to supply the names of all workers members of the organisation, allocation and wage to the committee for additional investigation.
The committee additionally gave NIPOST two years to ascertain a plan to revamp the service and alter the enterprise mannequin to attain self-sustenance somewhat than working at a loss. In any other case, the Senate will enact laws to make sure complete privatisation.
Learn additionally NIPOST staff shutdown head office in protest against Tinubu’s appointment of new CEO
The lawmakers have been sad with Odeyemi’s clarification of the company projecting N18bn as personnel value for the NIPOST 16,000 staff nationwide. Musa lamented that regardless of low influence, NIPOST might enhance its personnel value from N13bn in 2023 to N18bn in 2024.
A member of the joint panel, Ireti Kingibe, a Senator representing the FCT, tried to defend the continued existence of NIPOST as {a partially} funded federal authorities company, claiming that each nation deserves its vibrant postal company.
Nevertheless, Osita Izunaso disagreed with Kingibe, arguing that the NIPOST, as it’s presently structured, shouldn’t be inspired if the nation is focused on producing revenues to fund its annual budgets.
The Chairman of the joint panel dominated that the NIPOST CEO ought to ahead to the committee particulars of her marketing strategy to reposition the company as a extremely revenue-generating company. He warned that NIPOST ought to have been totally privatized prior to now as a result of no one is feeling their influence wherever within the nation.
The Senate committee gave NIPOST an ultimatum to develop a enterprise mannequin on how the company would generate satisfactory revenues for the nation by artistic concepts, as failure to take action would go away the Senate with no different choice than to advocate the complete privatization of NIPOST.
