NIPOST Reports Revenue of N19.7bn in 2018

• NIPOST Reports Revenue of N19.7bn in 2018

The Nigerian Postal Service reported total revenue of N19.7 billion in 2018.

A break down of the report showed the organization generated N7 billion from its core operations, while a total of N12.7 billion was realised from electronic stamp duty.

The N7 billion from core operations was slightly smaller than the N7.04 billion reported in 2017.

Mr Bisi Adegbuyi, the Postmaster General of the Federation, said new communications technologies had spurned new business opportunities for the organization.

He said the passage of the new bill would herald a new dawn for the Nigerian Postal Service as well as the entire courier industry.

Adegbuyi said, “Unfolding events show how the sector is reaping from the booming and exponentially growing e-commerce segment, not to mention the utilisation of the vast network of post offices in creating financial and digital inclusion.

“Apart from the huge employment potential in the postal sector, the existence of the post office in all nooks and crannies of the country places NIPOST at an advantage over other organisations in Nigeria in terms of spread.”